Are extended warranties worth the money?

Just a point, i puchased a new desktop computer just over 2 yrs ago, bought an extenderd warranty(5 yrs) on the whole thing for $325(had second thoughts). $2000 purchase price. Had the option to cancel at any time, was giong to but didn't. The monitor didn't fire up one morning ????, made a phone call and they said OK, will mail a check for price of monitor($329 no questions asked). My computer is still covered for 3 yrs, cant complain. How often do you use the product that you are purchasing the warranty for?

Another Point , Client bought the extended warranty on a Laptop , Complete care .. the company handle 800 pound pump for some reason Im not sure .. anyway the story is that one of those pump accidentaly dropped on that laptop , im not sure of how it happen , maby a prank or something but anyway , the laptop was fully replace except for the 2 doors under the laptop that gives access to the ram and Wireless card. Some Company will ask you to buy Warranty on a 9.99$ Calculator , those are not worth it , but 2000$ Laptop on a construction site , that's another story

well i think a used car with lots of options is a good thing to buy a warranty 1600.00 waranty = 1 motor 2 window motors and other stuff .the end result was 14000.00 later i paid for it many times over .i was and still driving an envoy .if it has a lot of the powered stuff take it if its doesnt take the risk .actualy i am a car salesman no one has problems with cars that have less of the goodies .thats my five cents this morning thanks

I bought a warranty on my new laptop 2 years ago. After one year of use, the laptop was replaced because it was not usable. I received my entire purchase price and was able to buy (a better) laptop as a result.

Price on the laptop - $1,500. Price of extended warranty - $300.

It was absolutely worth it.

Every consumer book i've read says that extended warranties are a total waste of money. I figure if the product lasts long enough to surpass the manufacturer warranty then there's a good shot it was made right and will last longer than any extended warranty i could buy. I'd really recommend http://www.chimpout.com/forum for some information on the subject. They do a good break down on the good points and bad points. But for me, i'll save my money and take my chances.

Nick Erpleese link is to a disgusting racist site. No point in saying anything to Nick, obviously not his real name. Bigots just don't get it.They're not bright enough. To all others avoid giving this garbage site any hits.

Bought a used pickup and the extended warranty, now two teansmissions, replacing the transfer case etc for the 4WD, and replacing the head gasket at a cost to me of $200.00 including towing was it worth it, U bet, just wish that the downtime, over 2 months was claimable too.

We bought warranty from Dufresne for all our furniture and appliances. We bought the extended warranty to protect us incase something did go wrong. And this is what the sales agents' advocate when purchasing warranty. "To protect the conumer". Hmmm, I beg to differ.

We have had nothing but complete disaster with this company and the insurance company we bought the extended warranty for. We have had problems with the stove since we bought it last year. Dufrense just kept sending a repair man to repair it. We had loss of use all summer last year on the stove, thank goodness we had a BBQ. And now the problem has progressed worse! Now we are on extended warranty and instead of replacing an "unrepairable stove" the insurance companies INSISTS just to keep repairing. (Stove has now been repaired with the SAME piece 6 times!)

My theory. It was a complete waste of money to purchase extended warranty. It looks like we are going to have to purchase another stove as the final result :S

I sell Extended Service Plans to everyone. Its up to you to buy it. I offer it to you cause its my job to be consistent with company policy. Its not neccessarily that I am offering you the priviledge of purchasing the extended service plan to benefit you. If you come in to the store and you have a bad attitude and I don't feel you deserve my service, or I simply don't like you, I will intentionally not even offer you the priviledge of purchasing an Extended Service Plan because I want you to foot the bill for the repairs full cost when your product breaks down. And it might be a mighty bill too but I believe you deserve it. You might be thinking I am doing you a favour by not even offering it to you during the sale, but I am actually intentionally doing a big disservice to you and happy to oblige. Wolf in Sheep's clothing.
If I think you are a nice person and if I listen to your concerns and needs during the sale, I will encourage you to buy the ESP and even take the time to explain to you the benefits as to why you really need it. I am not going to say you are buying a lemon product but I will continue to encourage you to purchase the ESP nicely, hoping you get the subtle hint. For example, if you buy an XBOX 360 from me, I will definitely encourage you cause the ring of red fatal error is almost guarantee to come out within 3 years. But if you were a bad customer, I would not offer the ESP to you. You deserve instead to buy another Xbox 360 at full retail cost. See you in a number of months!
If you are an average customer who comes in and after I explain to you the benefits of the ESP,and you did not buy it, I wish that the product you buy will break down on you and teach you a lesson for wasting my time.

Honestly folks, here is my two bits on how to decide to buy an extended warranty.

Take the price of the product, the warranty period and decide: If this product were to break down on me after the warranty period is over, is the amount of money I spent on it disposable?
If yes, don't buy the extended warranty. If no, then buy the extended warranty.

For example: You buy a 42 inch plasma tv from me for $1200. It comes with a 2 year warranty from the manufacturer. Sure it may be a hassle to try and claim warranties and I may have some out of pocket expenses like S&H and insurance, but its two years. Every warranty in the world including extended ones have hassles anyways too. If after two years and 4 months in and it breaks down, its unrepairable. Can I easily get enough money to buy another 42 inch plasma? If yes, I should not bother with the extended warranty. If no, then I better buy the extended warranty which would cost me only a fraction of the purchase price. Plasmas are not repairable, just replaced. How much is the plasma tv worth to you after 2 years and 4 months. Don't you like new things and technology? Sure I do. If it cannot be repaired, its replaced with equal or with a comparitive model.
As a smart consumer,if you realized that plasma is not repairable, so you automatically will get a replacement, whether new or refurbished. You would definetely want to buy the longest extended warranty offered on it and wish your plasma would break down as soon as two years have elasped so you can get the next generation tv for only a fraction of the real cost.

Another example: If you buy a laptop from me for $499 and it comes with a one year warranty. And it breaks down on me after 18 months, is the $499 just pocket change I can easily come up with to buy another laptop? If yes, don't buy the extended warranty. If no, then buy the longest one possible cause the most common issues are HDDs, keyboard and screen not working. Motherboards are increasingly becoming another issue. The extended warranty for 3 years is $280. Its more than half the cost of my laptop purchase price. Should I buy the extended warranty as I do not have much money to buy another one if this breaks down after a year? Yes you should buy the extended warranty.
Why? A new hdd cost $85 or higher, labour to put it in averages $80 an hour, new motherboard costs $400, new screen may cost more than the laptop cause the labour charge and part will exceed the purchase price, and the customer is not a qualified technician so no DYI allowed.

Smart consumers do their research and make informed decisions. Are you a smart consumer? To become one, take my advice.

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