Extended Warranties

[Cobster]

in some cases they're worth it, some not, it really depends if you can afford it or not.

but it is "pure profit" as someone put it in the posts above.

read my post, 2 above this one.
about the cost of the actual product, point it out to the manager or supervisor when wheeling & dealing for a better price and make them squirm

 

[Cobster]

another thing, everyone's warranty (meaning the manufacturer of the product) varies.

some consider a certain amount of dead pixels in a certain "viewing area" as the criteria.

call the manufacturer to find out exactly what their definition of a viewing area is and what constitutes warranty coverage.

ie - samsung dlp - if a pixel is dead and can be noticed at 9ft, then they'll fix or replace the unit.

 

[The Shake]

You must have been sleeping. I didn't exactly leap on the opportunity myself. I made it onto the 5th page.

Not sleeping - just lazy.

 

[clules]

About 8 years ago, I worked for a company called STEREO PEOPLE. I made 1% commission on all Video products, including TV's, VCR's, etc. 2% on all AUDIO products, i.e. Radios, Walkman's, etc. 50% on all Extended Warranties.

We had a special agreement with all of our suppliers. It didn't matter how old the product was, if it was on Extended Warranty we sent it to the Service Department of the Supplier. They tried to fix it for us for FREE. If they could not then they would give us a current model as a replacement for a special discounted price. It did not cost the store a penny, unless it had to be replaced.

Even then it was worth it for the store because we told the client that the old extended warranty expires if the product is replaced (look at the fine print). We then sold them a new extended warranty on the replacement.

In my first year I sold over $200,000 in product and $60,000 in extended warranties and I was only working part time.

 

[shakenbake]

My advice on electronics - Never buy an extended warranty . . . 3-4 years ago I went on an electronics buying binge: PC, Printer, TV, Camera, DVD, etc. and bought extended warranties on all of them . . . most from Future Shop. My primary complaint was the time it took for diagnosis and repair. If it is a complicated problem, and their in-store technician can't resolve it, they send it out for repair. The net result is you are left waiting for weeks if not months for repair. I don't know about you but I can't function without a PC for more than a day or 2.

My advice is to decline all extended warranties for electronics and instead use your local small repair shops, as long as it is not a major component your better off.

Do you believe that they really send the items out? HA! Regional office did not have ANY record of my printer being in their central service facility when I asked for a reason why they thought my print heads were dead. maybe, the only thing dead was the brains in one of their technicians who misdiagnosed the problem. Or, maybe they wanted to score a good printer for free, at my expense.

shake it and bake it

 

[shakenbake]

Want a tip to save you tons of money.

But it on your Mastercard, or Visa, whenever you make a purchase on those cards (American Express included) they'll match the warranty of the product for an extra year, to factory specifications
Find out about it, it's true

So you can essentially get 2years warranty for nothing.

You got it! I always use my Amex for that reason. But, check with the card issuer, just to make sure. With some cards, you may have to pay a bit extra, in terms of an annual fee. However, you save a lot in terms of money and headache. I'd rather do business with Amex, Mastercard and Visa than with the likes of BB and FS for extended warranties, because they have a vested interest in the satisfaction of their customers/cardholders, I assume.

 

[Everyone Else]

Way back in this thread
someone (FLT?)
made a very good point.

An extended warranty is a form of insurance
and many of the arguments against warranties
also apply to insurance.

It is statistically a waste of money
to insure any risk you could comfortably absorb yourself.
The insurer knows better than you
what costs you might incur,
plus they add on losses they will have due to fraud,
plus they have to pay top dollar for repair/replacement,
plus they add on their profit.

One way to help reduce insurance overcharge
is by demanding a higher deductible
on car and home insurance.

If you can afford a few escort meetings a year,
no way your car deductible should be less than $1,000
Check the premium savings and you'll see.

Be warned, your insurance agent will do his best
to argue you out of it.