Extended warranty?

[Firefighter Kubota]

Seem like a no brainer but still wondering if I should extend my warranty....

another year for $600, same coverage as the original...

my B is on ly 2 yrs old with 150 hrs..

Yeah, no brainer...

 

[ray66v]

One thing people forget about extended warranties, the companies that offer them do so as a profit making venture, not a community service. This means they come out on the winning end.

The odds are that you won't need the extended warranty for repairs exceeding the cost of the warranty. So the warranty company profits on the deal.

Someone always steps up and says: "Well, (insert name here), got the extended warranty, and it was a good thing he did, because they replaced this and that, and it would have cost him a fortune.

Conversely, you never find a group of guys bagging about how they spent hundreds, sometimes thousands, on extended warranties they never used, leading some to the assumption that it does not happen.

If volunteering to be robbed by the warranty company gives you piece of mind, the option is available.

It is however, a crap shoot.

 

[TripleR]

I quit buying extended warranties years ago and have saved enough money to replace/repair anything I own except maybe a new truck.

I agree, you will hear from those who have come out ahead on some item, but over a lifetime, you will be ahead by not buying them.

The only reason I can see for buying one is if your finances simply will not permit you to cover the cost of repairs in which case you might want to re evaluate your spending priorities IE "wants" v "needs".

 

[brin]

I'm still mad as heck !! 5 yrs. ago when Plasma TV's really got hot we bought a 42 inch at Circut City ( Now bankrupt ) and the salesman convinced the wife and me that Plasma's were expensive to fix and we better buy and extended warranty. So we paid $500.00 more for a 3 yr. extended warranty...Guess what..Never needed it and the TV has been great..so I don't ever buy extended warranties and I agree it is a crap shoot but I think the odds are you will never need it. I think you should go by the condition your tractor is in..

 

[Firefighter Kubota]

Sorry, if I mis spoke..this in an extension of the Kubota basic warranty, from Kubota...

 

[TripleR]

Sorry, if I mis spoke..this in an extension of the Kubota basic warranty, from Kubota...

Still a gamble and the house always wins. I am sure others will disagree. I use to subscribe to Consumer Reports and they advise not to buy them. I am 62 and when I was much younger I almost always bought extended warranties, but only use one. I paid something like $1800 and got a $300 repair paid for it, so I don't do it anymore.

Just my opinion and your results may vary.

 

[BotaBX24er]

Pick and choose what you buy the extended warranties for. For a tractor that has had a good reputation and has not had any negative mention of breakdown, PLUS the fact that you've probably babied it . 150 hours in 2 years? so that $600 to cover an average of 75 hours? Chances of something over $600 breaking in that time period is slim, but as others have said, it's a crap shoot...

I would not, but that's just another man's opinion...

 

[red4now]

Those consumer electronic extended warranty offers are a pain. Just having to listen to the pitch makes you realize they are a money making play. Picked up a couple of those tiny button batteries and the guy tried to sell me on an offer of some sort. Come on they are batteries!! They wouldn't offer it unless it made them money as was suggested. The odds are in their favour.

 

[bstrom]

Keep the 600 dollars aside for any small repairs you might need in the next year.

 

[Firefighter Kubota]

Keep the 600 dollars aside for any small repairs you might need in the next year.

Thinking I will!!! or through one heck of a party

 

[bstrom]

Just keep the drunks away from the tractor!

 

[JOHNTHOMAS]

Keep your money.

 

[Bird]

It's just like any insurance policy; fire, theft, and collision on your car, hospitalization, fire insurance on your house, life insurance, etc. One of my grandfathers said he'd never buy life insurance because that's betting against yourself. His thoughts were that if you bought life insurance, you were betting you were going to die and the insurance company was betting you weren't.

So you simply have to decide what's the worst thing that can happen if you don't have an extended warranty (or any other kind of insurance). Can you afford that on your own? You then consider the odds of it happening (and you'll never really know other than a guess). And then decide whether the premiums are low enough to be worth the peace of mind.

I agree with the others. We all know the insurance folks are in business to make money. So it's usually not worth the cost, in my opinion, but then sometimes . . . . ..

 

[keyman1808]

How many times did you use your exsisting warranty?? Me all I used it for was a 75 cent o ring thats it. I also had a leak but the dealer reneged and said its not covered. but thats a different post all together.

 

[Cat_Driver]

I never buy insurance and have never needed it on anything I have ever purchased so I have saved thousands of dollars if you include all my vehicles and electronics.

Now my brother on the other hand buys insurance on everything including computer printers, cell phones, cars etc. and always, always, always makes out.

Just recently when I talked to him he had his vehicle in for service as the insurance was about to run out and they put in about 3K worth of repairs. New steering box, compressor, and on and on. All total for the three years 60K miles cost him I think $1,500 and has made about 6K above that over the last few years. I don't get it.

 

[Travelover]

My basic rule is to never insure against any expense that I can handle myself. That includes extended warranties as well as auto and home insurance deductibles, towing insurance, etc.

As some one earlier stated, they have to make money selling it and if most people collected more than they paid in for premiums, it would be a loser deal.

 

[bstrom]

If the tractor has 150 hrs in two years, with no big problems, I personally would not extend it. It's broken in and the next 75 hrs or so you put on it is a drop in the bucket. Good luck with your decision.

I hate insurance and try to only buy it to cover things I could never pay for like my house, if I injured someone, got injured, etc. Then it's almost worth it to be in a risk pool. Most of the rest of it is a big rip, unless you know how to scam the money people and that isn't me.

 

[Firefighter Kubota]

Just keep the drunks away from the tractor!

Uhm, then I'd never get on it!!! Best time to put the neighbors kids in the bucket and drive around!!!

 

[haroldW]

Making a significant home or consumer electronics buy is absolutely a big decision. Several retailers are getting to the extended warranty sport. Extended warranties are basically short-term insurance on your transactions. More often than not, they're themselves very expensive. Most consumers are not aware that the charge cards they already have may provide totally free extended warranties and this provides the chance to extend the warranty without extending your wallet. And this is now exactly what you need to have worry free purchases for your home and materials improvement.