Check if one of your credit cards extends the warranty or offers damage replacement? Often they double the warranty. I collected a new tarp for my shelter logic garage when the original starting tearing at the end of the second summer. Took some paper work but was worth it.
Should I buy an appliance extended warranty?
- Thread starter HonorAndHonesty
- Start date
- Status
Originally Posted By: madRiver
I have done incredibly well in life simply stashing money every month($250) into my self warranty fund. I don't fret over a $1500 car repair, failed washer or replacing my boiler or a $500 car deductible. Withdraw money and move on.
That's what we do. And honestly the "500 dollar control board on this high tech new fangled" machine can usually be had for under 100 bucks online. Parts are fairly cheap and I dont mind working on the stuff.
The Maytag is running again, like new, sans grinder. Its just the steam venting issue, I have to replace it, its going to cause mold if it keeps it up.
I have done incredibly well in life simply stashing money every month($250) into my self warranty fund. I don't fret over a $1500 car repair, failed washer or replacing my boiler or a $500 car deductible. Withdraw money and move on.
That's what we do. And honestly the "500 dollar control board on this high tech new fangled" machine can usually be had for under 100 bucks online. Parts are fairly cheap and I dont mind working on the stuff.
The Maytag is running again, like new, sans grinder. Its just the steam venting issue, I have to replace it, its going to cause mold if it keeps it up.
Why buy an extended warranty when you can get it Free?
I use my Citi credit card when buying things with warranty. My American Express also has lots of benefits. Check your credit card.
Included with Your Card:
Warranties run out. Get an extra 24 months added to your warranty when you purchase items at least in part with your Citi card and/or ThankYou® Points. If your eligible item breaks, we’ll repair, reimburse or replace it, up to the amount charged on your Citi card and/or ThankYou® Points or up to $10,000 per item, whichever is less. Also they will check for like 2 months to see if anyone offers a better price on your purchase and will refund the difference.
Also:
Go ahead and shop! If an item you paid for with your Citi card and/or ThankYou® Points is damaged or stolen within 120 days (90 days for New York residents) of purchase or delivery (whichever is first), we may repair it or reimburse you up to the amount paid with your Citi card and/or ThankYou® Points, up to $1,000 per item, up to $50,000 per year, per Citi card account.
They also search for a better price for 60 days from your date of purchase. And refund difference.
Why buy an extended warranty when you can get it Free?
I use my Citi credit card when buying things with warranty. My American Express also has lots of benefits. Check your credit card.
Included with Your Card:
Warranties run out. Get an extra 24 months added to your warranty when you purchase items at least in part with your Citi card and/or ThankYou® Points. If your eligible item breaks, we’ll repair, reimburse or replace it, up to the amount charged on your Citi card and/or ThankYou® Points or up to $10,000 per item, whichever is less. Also they will check for like 2 months to see if anyone offers a better price on your purchase and will refund the difference.
Also:
Go ahead and shop! If an item you paid for with your Citi card and/or ThankYou® Points is damaged or stolen within 120 days (90 days for New York residents) of purchase or delivery (whichever is first), we may repair it or reimburse you up to the amount paid with your Citi card and/or ThankYou® Points, up to $1,000 per item, up to $50,000 per year, per Citi card account.
They also search for a better price for 60 days from your date of purchase. And refund difference.
Why buy an extended warranty when you can get it Free?
Last edited:
Don't. The cost on the warranty is likely 5$. Ie. Its all profit. Most will fail by year 6 or beyond. They do their research
I got a warranty maybe twice and a discounted warranty at that, both for portable electronics. Appliances, cars and computers is a no across the board for ext warranties.
I got a warranty maybe twice and a discounted warranty at that, both for portable electronics. Appliances, cars and computers is a no across the board for ext warranties.
Originally Posted By: 5AcresAndAFool
Originally Posted By: dishdude
Originally Posted By: Leo99
Originally Posted By: dishdude
Not on appliances, I don't think I've ever had one break. I bought it for some trees, a pressure washer and a robot vacuum. I figure if something is going to break, it'll be one of those two and the trees I can't fix!
Trees?
Yes, the green leafy things. They're not common around here.
A lady brought her dried up live Christmas tree back to Costco for a refund and got it. A week after Christmas.... True story.
If true, it's a major ding to Costco's reputation. I'm paying more than I should because 1% of customers are jerks. This is a similar story to the Nordstrom's customer who took back dirty dishes after a party, a reason I've never shopped at Nordstrom's.
As to extended warranties, I've heard that the best of them pay back fifty cents on the dollar. Just got a warranty repair on a Hotpoint refrigerator. Glad it happened a month before the warranty ran out, but I wasn't tempted in the least by a flood of emails from GE touting the extended. I can afford a couple of hundred dollar repair, I'll take my chances.
Originally Posted By: dishdude
Originally Posted By: Leo99
Originally Posted By: dishdude
Not on appliances, I don't think I've ever had one break. I bought it for some trees, a pressure washer and a robot vacuum. I figure if something is going to break, it'll be one of those two and the trees I can't fix!
Trees?
Yes, the green leafy things. They're not common around here.
A lady brought her dried up live Christmas tree back to Costco for a refund and got it. A week after Christmas.... True story.
If true, it's a major ding to Costco's reputation. I'm paying more than I should because 1% of customers are jerks. This is a similar story to the Nordstrom's customer who took back dirty dishes after a party, a reason I've never shopped at Nordstrom's.
As to extended warranties, I've heard that the best of them pay back fifty cents on the dollar. Just got a warranty repair on a Hotpoint refrigerator. Glad it happened a month before the warranty ran out, but I wasn't tempted in the least by a flood of emails from GE touting the extended. I can afford a couple of hundred dollar repair, I'll take my chances.
Last edited:
The extended warranty is only good for however long the company you bought the appliance from is in business. They fold up shop, your warranty gets folded up too.
Originally Posted By: fdcg27
"Extended warranties", really service contracts that may be difficult to collect on are no more nor less than cash grabs by retailers. That's why they're always pushed at checkout time.
If you want to avoid buying junk appliances, CR is your friend as is a quick googling of whatever you propose to buy.
They also are nearly worthless when you need them.
Trust me, they WILL find a way to deny your claim.
"Extended warranties", really service contracts that may be difficult to collect on are no more nor less than cash grabs by retailers. That's why they're always pushed at checkout time.
If you want to avoid buying junk appliances, CR is your friend as is a quick googling of whatever you propose to buy.
They also are nearly worthless when you need them.
Trust me, they WILL find a way to deny your claim.
Now that just takes the cake. Sounds like a lady that would rob Santa Claus too.Hope she gets coal in her Xmas stalking next year and if she is a larger gal some Slimfast.
Extended warranty questions always come down to the fundamental choice you make when buying major purchases or expensive to fix items (laptops, cellphones).
Either you never buy them, pocket the savings and create a "pool" of saved money to pay for repairs out of pocket (cheapest, but can lead to scrambling to pay for a repair) or you always buy them. Mixing and matching that strategy is gambling and you probably will lose.
So decide what your ability to pay for repairs is and what your comfort level with breakdowns are, and choose one strategy, and stick with it.
Extended warranties on inexpensive or short limited-lifetime items is almost always a bad economic decision. Set a dollar amount where you never purchase the warranty and are willing to just replace the item instead. Warranty above, no warranty below (assuming you decide to use extended warranties at all).
Either you never buy them, pocket the savings and create a "pool" of saved money to pay for repairs out of pocket (cheapest, but can lead to scrambling to pay for a repair) or you always buy them. Mixing and matching that strategy is gambling and you probably will lose.
So decide what your ability to pay for repairs is and what your comfort level with breakdowns are, and choose one strategy, and stick with it.
Extended warranties on inexpensive or short limited-lifetime items is almost always a bad economic decision. Set a dollar amount where you never purchase the warranty and are willing to just replace the item instead. Warranty above, no warranty below (assuming you decide to use extended warranties at all).
Pay the extra money towards a Speed Queen; you won't need the warranty. FWIW I bought a new SQ washer and dryer in 2009 and they have never given me any issues. I do about 4 loads per week.
Last edited:
I would say that more times than not these warranties have microscopic fine-print legal mumbo jumbo that allows them to weasel out of paying what they should and low ball the estimate. Any new appliance shod already have a manufacturer's warranty for the first year or 2 and most credit cards will double that.I have a USSA credit card and it does that.Have never had to use it though,so not sure how well it would work and they might try and weasel out of paying as well. Most of these warranties have a pattern of screwing over the consumer.Many many bad reviews on google,yelp etc. IMO these extended warranties are more sizzle than steak.
No extended warranty for me! When this junk they make today goes bad, I just take it the dump and buy another brand of equally bad junk. LOL
Most insurance targets 50% payout, 50% overhead/profit.
'Extended warranty' insurance is often over 90% overhead. Half or more immediately goes as store profit and sales commission. That immediately makes it worse than regular insurance. The rest seems to go toward writing fine print and weaseling out of the few things that are covered.
The only time the odds are better is if you know something about your specific situation that the insurance company doesn't take into account e.g. your power is prone to spikes.
'Extended warranty' insurance is often over 90% overhead. Half or more immediately goes as store profit and sales commission. That immediately makes it worse than regular insurance. The rest seems to go toward writing fine print and weaseling out of the few things that are covered.
The only time the odds are better is if you know something about your specific situation that the insurance company doesn't take into account e.g. your power is prone to spikes.
"A lady brought her dried up live Christmas tree back to Costco for a refund and got it. A week after Christmas.... True story."
That is crazy. I am guessing that the customer service people probably figured it was easer just to give her the refund and get her out of there rather than have it escalate to something psycho. I would certainly hate to work at a retail customer service. Most customers are probably honest and decent, but there is always that 1% of idiots that they have to deal with, Especially the day after Christmas when all of the returns come in.
That is crazy. I am guessing that the customer service people probably figured it was easer just to give her the refund and get her out of there rather than have it escalate to something psycho. I would certainly hate to work at a retail customer service. Most customers are probably honest and decent, but there is always that 1% of idiots that they have to deal with, Especially the day after Christmas when all of the returns come in.
Most manufacturing defects should show up during the normal warranty period. The money you would spend on contracts for say, eight appliances, would easily cover the cost of a new appliance IF one should fail. Set aside the money you would pay for extended warranties into your own account.
The only appliance that I'd even consider buying an extended warranty on would be a refrigerator.
Why? It MUST run... or else. A broken dishwasher is an inconvenience. A broken stove is an inconvenience.
A broken refrigerator is bad. A bonus would be if the extended warranty would also cover for food loss.
Why? It MUST run... or else. A broken dishwasher is an inconvenience. A broken stove is an inconvenience.
A broken refrigerator is bad. A bonus would be if the extended warranty would also cover for food loss.
Nothing but an insurance policy and try to collect on one. CU has always advise against extended anything.
The one time my wife went furniture shopping without me she bought the warranty. When she went to use it a few years later wasn't worth the paper it was printed on.The rule of thumb is only insure what u can't afford to replace.
I have never bought an extended warranty and don't want to. However, I have read enough horror stories lately regarding new televisions that I will have to consider very carefully the next time I buy one. I prefer to try and buy quality if I can and wouldn't hesitate to drop $1000-$1500 to get the one I want, but I'd hate to have to pay for another one any sooner than 5 years. If an extra $100-$150 would prevent that...maybe. Thankfully, my two 2010 Samsung LCDs are still going strong.
Originally Posted By: 5AcresAndAFool
But....After my 2 year old MAYTAG dish washer debacle.
IMO, there is your problem. We have a local mom-and-pop place that sells Maytag, so we thought we should give them business.
Two washing machines and a 'fridge later, I vowed I will never buy that brand again.
But....After my 2 year old MAYTAG dish washer debacle.
IMO, there is your problem. We have a local mom-and-pop place that sells Maytag, so we thought we should give them business.
Two washing machines and a 'fridge later, I vowed I will never buy that brand again.
- Status
