[jnieman]

When buying new appliances do you buy the extended warranty?

[FenneyGuy]

Never. I can't justify the cost.

[retiredguy123]

Originally Posted by jnieman

When buying new appliances do you buy the extended warranty?

Absolutely not. I consider extended warranties of any kind to be a total ripoff. Also, home warranties are a ripoff.

[Mrs. Robinson]

You have to know that most warranties are sold to benefit the seller, not the consumer.
Otherwise, they wouldn't be available to buy.

Take the price of the warranty and put the money in your underwear drawer.
Put it in every year and you will be way ahead of the game if, in fact, you ever have a repair problem.

[l2ridehd]

I have never bought product warranties. I have been burned a couple times but overall have saved a lot of money. I stopped buying collision insurance many years ago and again am way ahead even if I roll one up in a ball tomorrow.

I had one moment of weakness about 12 years ago and have always regretted it. I had just got married and was buying my new wife a car. I ended up getting her a certified used car, a Mercedes. We got the price set and was with the finance person because at the time they has a .001% finance rate and we got the hard sell for the extended warranty. They started at about $3500 and I said no. I kept saying no until they were at $1200. Then my new love said she wanted it and would pay for it herself because it was a 100% bumper to bumper for as long as we owned the car. I gave up and bought it.

Always did the regular service at the dealer. After about three years the check engine light came on I took it in and it was an oxygen sensor gone bad and cost was zero because of the extended warranty we had bought. Hummmm, mabe a good deal. About 3 months later another check engine light. Took it in again and it was another oxygen sensor on a different cylinder. Upset, but it was paid for again by the warranty. Well, you guessed it, three months later another one. This time I was really PO'ed and asked why don't you just replace all 12 of them.

And the answer was? Well if you didn't have the extended warranty and were paying for the service we would. But the insurance only allows us to replace the bad one. She now agrees with me and we will never again buy those warranties.

[simpilot]

I disagree with never buying collision insurance the reason being if you're involved in a not at fault accident the insurance company pays to repair your car within days and the insurance company is your advocate if it goes to court. Without collision you're pretty much on your own and you might never collect a dime. That happened to me when my car was totaled when rear ended by an uninsured driver. I sued the other driver and got a judgement for $5,000 (almost 30 years ago) but he didn't have two nickels to rub together. Many people are under the impression that courts award you money. They don't. You get a judgement and it's up to you to collect.

[tcxr750]

We bought a new clothes washer and have gotten several offers to buy a warranty from the manufacturer. Beside being over priced the warranty only lasted the first few years of ownership. Rip off!
Regarding car warranties.... I bought a new Chrysler in 2014 and bought the Chrysler lifetime warranty (my lifetime). I plan to keep the vehicle more than ten years. Having owned two other Chrysler vehicles over the past 15 years and having purchased the Chrysler extended warranties, I’ve learned that the price of the warranty was recouped in a few years worth of needed repair work.

[leftyf]

My extended warranty on my dishwasher paid for a replacement. I just don't think appliances are made as well today.

[retiredguy123]

Originally Posted by simpilot

I disagree with never buying collision insurance the reason being if you're involved in a not at fault accident the insurance company pays to repair your car within days and the insurance company is your advocate if it goes to court. Without collision you're pretty much on your own and you might never collect a dime. That happened to me when my car was totaled when rear ended by an uninsured driver. I sued the other driver and got a judgement for $5,000 (almost 30 years ago) but he didn't have two nickels to rub together. Many people are under the impression that courts award you money. They don't. You get a judgement and it's up to you to collect.

I'm confused by your logic. If you have collision insurance, and the insurance company pays to fix your car, why do you care what happens in court? The reason to not buy collision insurance is to save the premiums and pay for repairs yourself, if you can afford to do that.

[retiredguy123]

I knew a family member who worked at Best Buy. Their employee cost for an extended warranty on an electronic item was 2 dollars, but the retail cost to a customer was 20 dollars, 10 times as much.

[asianthree]

Our extended warranty on our dryer for 5 years was $84. Six days after regular warranty expired dryer stopped working. New dryer in 3 days, worth $84. Compared to $800. For new dryer

[billethkid]

Like most/all insurance type benefits, extended warranties too depend on actual claims being the isolated cases.

Not much of a gamble for the majority.

Save your money.

[600th Photo Sq]

Originally Posted by retiredguy123

I knew a family member who worked at Best Buy. Their employee cost for an extended warranty on an electronic item was 2 dollars, but the retail cost to a customer was 20 dollars, 10 times as much.

In the Military the term " RHIP " or Rank has it's Privileges ... In the case you are quoting about the employee ..." EHIP " ....Employee has it's Privileges. Pretty simple to me.

[jnieman]

We bought a range and overhead microwave. I think the microwave warranty was going to be $86 and the range warranty $130. That is $216 for warranties. The microwave only cost $279 to begin with. I think I will just take my chances. My current range lasted ten years and is still going strong. I just broke the front door and it shattered. They will donate it to habitat who will fix it and give it to someone in need.

[1mimimary@att.net]

I never did, but after replacing a dishwasher, stove and a microwave in the last 2 years -- I highly recommend it!! Warranties today are good for only one year. Repairs are costly and you pay up to $100 just for the service call. I would caution you and anyone else reading this post -- DO NOT BUY ANY NEW SAMSUNG APPLIANCE! I have replaced them all, with the exception of a french door refrigerator that is now 7+ years old. Not building them like they used to, unfortunately. (My son in north Alabama bought a new house that had Samsung. Had to replace them all. Same thing with my sister who also lives here. )