what do you think of extended warranty

[PILOON]

Only once did I purchase extended warranty.
That was on an Audi Turbo auto that at the time came with a 3 yr bumper to bumper total all inclusive warranty. While a great auto it did have a bad rep at that time hence the 3 yr coverage.
Yes it included tires, brake linings, all fluids windshield wipers etc.
Since I became real friendly with the shop manager (we both had MG B's as fun cars) he strongly urged me to buy an extra year for $600. which I did!
Well that sure paid off, the turbocharger blew up, then a wheel bearing shattered, the alternator quit and fried the battery and in the last month of coverage the transmission failed.
While on one repair, a mechanic poked a hole in the rad so that got renewed as well.
All in all they paid out a little over $7000. to keep me on the road.
I had purchased it as used at 18 months for $10,000.
Being the type class of car they allowed me $7000. in trade on a new GM product.
I traded it in B4 the last month of extended warranty to avoid any comebacks and actually made out very well all considered.
Do the math and my cost of owning for 2.5 yrs was extremely reasonable.
An at every shop visit they provided a loaner.

BUT: that was the one and only extended warranty that I ever purchased!
The birdy did whisper to me. L.O.L.
Oh, yes I did drop off a nice Xmas 'gift' as he sure deserved it.

 

[beppington]

Just me . I don't buy extended warranties on any products I buy.It's insurance. The insurance company is betting nothing happens & most times they win. Insurance companies aren't in the business to lose $$.... Self insure & save your $$$

Following that logic, I guess you have nothing insured?

Anyway, I do have some things insured but never buy extended warranties. And at 43, so far so good. I always felt they were a waste, & Consumer Reports confirmed that one time. And another time a very aggressive salesman at Circuit City was almost trying to intimidate me into buying the extended warranty for a new TV I was buying. He was a big, tall dude, & every time I said no thanks again, he got a little closer & a little closer to where he was talking from almost straight above me! HAHA! I just kept saying no & he finally gave up. Oh, & the price of it started out at $300, then he "asked his manager" who told him he could lower it to $250 (cuz I'm super I guess), I said no, & on & on until it was down to $100. I still said no & they just couldn't believe it. At that point he prob coulda lowered it to $5 & I still would've declined, on principal alone, aka "Your sorry tactics ain't squeezin' another dime out of me."

 

[Gale Hawkins]

I normally pass if they cost much. This week I did spend $20 for one on our new HF $100 800 watt generator. It is covered for 90 days and I could add 730 days for only $20 plus it is a HF power tool. :laughing:

 

[Mike476]

Stopped buying them years ago, when I was very young I purchased one for a Goldstar TV thinking it wasn't the best quality and for the price of the extended warranty I may need it, the thing lasted 15 years and I was out the $50, haven't bought one since.

You can buy printers for less money than it costs to replace the ink, laptops for almost as much as the cost of the battery and TVs for the price of an extended warranty.

For vehicles and larger items, there are a lot of ways to do your research today that didn't exist 20 years ago, not a guarantee you're not going to experience any problems and there is some misinformation out there but the best insurance is being well informed before making a major purchase.

 

[Mace Canute]

When I bought my house in 1981, I had to buy washer & dryer and fridge & stove. I bought the extended warranty for them but they are still going strong today, only had to replace a stove element once and I found that in a stove somebody had dumped off at the local scrap yard...cost $0.00. A while after I moved in to my house, I sprung for a bigger TV and the salesman wanted to sell me an extended warranty for it too but I turned it down. As I told him at the time, electronics tend to either work a long time or they fail relatively fast and if it did fail, it would be covered under the basic warranty. He was actually quite ticked off that I refused to buy the extended warranty! The TV store went out of business even before the regular warranty expired, so even if I had bought it and needed it, I would have been hooped. I'd never buy an extended warranty and I would always advise anybody to pass on it.