why do consumers get suckered into buying extended warranties..

[Dancing Fire]

from those salesperson?

don't people know that's how they make money? not from the products they sell,but from selling the extended warranties on the products.

IMO...if you feel you needed to purchase an extended warranty on that product then you should consider buying another brand.the biggest suckers are the ones that buys extended warranties on electronics products.

 

[Moh 10]

I never buy them.

It is gambling, and the odds are with with house.

 

[geckodani]

Depends on what it is and what the warranty covers. We spent $10 for an extended warranty at Best Buy, and got a whole new Xbox 2 years after the factory warranty expired when the hard drive fried. Would have cost a heck of a lot more to replace it!

 

[Moh 10]

Sure, it is worth it if you are one of the ones who end up needing it.
But it is not worth it if you are not.

There are more who don't need it than need it - but ALL have to pay.
It is HUGE profit center.
It's a numbers game and overall the odds are with the house.

If you think of it as paying for the "peace of mind" then so be it.

 

[D&T]

I won''t buy the extra warranty especially on Jewelry - better to buy insurance instead.

 

[Dancing Fire]

i laugh when the car salesman say...you should buy a 5 yr extended warranty for your new car.
i say...do i look like a sucker to you?

the car already comes with a 3 yr/36K from the factory.a 5 yr warranty would only equal to a 2 yr extended warranty,not 5 yrs.

 

[Hudson_Hawk]

I would never buy a used car without an extended warranty. I''ve needed to use my warranty on every used car I''ve ever owned. As the mileage gets higher so does the cost of repairs. On a new car I wouldn''t bother getting the extended warranty as they all come with warranties.

 

[Hera]

Because it''s wise sometimes. I always do research on what items are more prone to breakage. For instance, I would definitely buy extended warranties on netbooks and laptops.

 

[Tacori E-ring]

I bought one for my laptop. I personally think it is a smart move. I think sometimes they are also good for cars. Besides that I don''t buy into them.

 

[purrfectpear]

Date: 7/20/2009 3:13:21 PM
Author: heraanderson
Because it''s wise sometimes. I always do research on what items are more prone to breakage. For instance, I would definitely buy extended warranties on netbooks and laptops.

ORLY? They usually come with a one year warranty. If it''s a lemon it''ll conk out before 12 months have passed. If it makes it to a year, it''ll make it for longer than you care to own it, unless you''re into using really old technology. I replace my laptops at least every 4 years and just give the old one away to a women''s shelter.

 

[Amethyste]

in my case, it was a new car model and make. it came with a pretty limited factory warranty, so I purchased an extra 3 since i really didnt know how much a certain repair would be since there were no data to base my decision on. It didn''t break the bank to do and it gives me a little piece of mind. Purchasing extended warranty is like the lottery, but the opposite way lol.

When Sh*t hit the fan, you are glad you are standing under an umbrella!

 

[DiamondSmitten]

It doesn''t seem so crazy to me. I bought a laptop for about $1000 in 2006. The extended 3 year warranty was about $200. about 18 months later the computer fell off of my bed and the monitor broke off of the base. I took it to Best Buy and they said it was too expensive to fix and let me pick out a brand new computer of comparable technology from the store. I got more ram, a bigger hardrive, an all around better computer and I didnt have to put out ANY more money at all. Without the warranty I would have had to put out another 700-1000 depending on the computer I picked out. The $200 dollars I paid for the warranty was well worth it. My little brother now has the replacement computer and I have a MAC from Best Buy. I once again got the extended warranty. Their warranties now cover a battery replacement which is at least worth $100 on the MACs making them even more worthwhile. Yes there is a chance you can get an extended warranty and not need it, so of course it is a gamble. But the warranties on the computers don''t cover accidents like the one I mentioned above.

 

[atroop711]

I bought my parents a new range and dishwasher...and I got the extended warranty. For some reason my parents ALWAYS end up using the extended warranty...thank god..if not they would have broken appliances. Seems like their appliances conk out the day after the warranty is up

 

[Hera]

Date: 7/20/2009 4:48:12 PM
Author: purrfectpear

Date: 7/20/2009 3:13:21 PM

Author: heraanderson

Because it''s wise sometimes. I always do research on what items are more prone to breakage. For instance, I would definitely buy extended warranties on netbooks and laptops.

ORLY? They usually come with a one year warranty. If it''s a lemon it''ll conk out before 12 months have passed. If it makes it to a year, it''ll make it for longer than you care to own it, unless you''re into using really old technology. I replace my laptops at least every 4 years and just give the old one away to a women''s shelter.

I think you''ve been very lucky. Sometime this week, I will be packing up my laptop to send for repairs per my extended warranty. I''m really glad I bought it!

.

 

[Dancing Fire]

Date: 7/20/2009 4:48:12 PM
Author: purrfectpear

Date: 7/20/2009 3:13:21 PM
Author: heraanderson
Because it''s wise sometimes. I always do research on what items are more prone to breakage. For instance, I would definitely buy extended warranties on netbooks and laptops.

ORLY? They usually come with a one year warranty. If it''s a lemon it''ll conk out before 12 months have passed. If it makes it to a year, it''ll make it for longer than you care to own it, unless you''re into using really old technology. I replace my laptops at least every 4 years and just give the old one away to a women''s shelter.

yep, for what you paid in warranty could buy you a new/better computer in just a few yrs or close to it

 

[Lilac]

I bought an extended 3 year warranty on my laptop - it''s a Mac and everyone said I was crazy because "nobody has problems" with them.

A year later my computer crashed. I needed a new one - the guys at the Apple store said there was no damage (I hadn''t dropped it, there was no water damage, NOTHING they could find that would cause it to just totally stop working). But they replaced my laptop because of my extended warranty.

6 months later my charger stopped working - instead of paying another $100 for a new one, I got a new one for free.

So far my extended warranty has saved me the cost of buying a new laptop and a new charger. I think on some things extended warranties are a waste of money, but on other things they can save you a TON of money later on.

 

[HollyS]

DF:

As someone in the auto industry, I am well aware of BAD extended warranties and the people who push them. I''m also well informed on the GOOD extended warranties, and how they''ve saved some of our customers literally THOUSANDS OF DOLLARS in repairs.

Are the insurance companies banking on the fact that most people will never have to use the warranty? You betcha. And yes, dealerships do make a profit on selling the warranties. But, and I can only speak for TX, the customer is fully informed about WHAT it covers, WHEN it goes into effect, and HOW you can buy it as ''aftermarket'' for cash and not tie it into your loan where you''ll pay interest. Disclosure is the law.

The customers who have problems are the customers who don''t listen to the finance manager, or don''t read the fine print. EVERYBODY should ALWAYS read ALL fine print. Before signing. Even if it irks the salesman, finance manager, whomever.

And, of course, if you don''t need it, don''t buy it. There is NEVER a need for an extended warranty on a new car. It isn''t applicable until the manufacturer''s warranty is up. Buy it later. If it will give you peace of mind to have one.

 

[Dancing Fire]

Date: 7/20/2009 6:36:11 PM
Author: HollyS
DF:

The customers who have problems are the customers who don''t listen to the finance manager, or don''t read the fine print. EVERYBODY should ALWAYS read ALL fine print. Before signing. Even if it irks the salesman, finance manager, whomever.

And, of course, if you don''t need it, don''t buy it. There is NEVER a need for an extended warranty on a new car. It isn''t applicable until the manufacturer''s warranty is up. Buy it later. If it will give you peace of mind to have one.

now a days i would need to hire a lawyer to understand all them fine prints.

 

[Hera]

Date: 7/20/2009 6:33:02 PM
Author: Dancing Fire

Date: 7/20/2009 4:48:12 PM

Author: purrfectpear

Date: 7/20/2009 3:13:21 PM

Author: heraanderson

Because it's wise sometimes. I always do research on what items are more prone to breakage. For instance, I would definitely buy extended warranties on netbooks and laptops.

ORLY? They usually come with a one year warranty. If it's a lemon it'll conk out before 12 months have passed. If it makes it to a year, it'll make it for longer than you care to own it, unless you're into using really old technology. I replace my laptops at least every 4 years and just give the old one away to a women's shelter.

yep, for what you paid in warranty could buy you a new/better computer in just a few yrs or close to it

$199 for a powerful laptop (for an addtl 3 years)? Even a crummy laptop, I don't think so

 

[radiantquest]

I always buy the extended warranties because I have found that they cover things that aren''t otherwise covered. I usually get my moneys worth too.

I am in retail and you are misinformed when you think that a salesperson does not make money off the product and only off of the extended warranty. I make more on the product and the extended warranty is very reasonably priced for what it is. Theres not much profit there. Most times it is the product that has the most profit. Extended warranties are profit too, but not as much. If someone is making a set commission on say a $40,000 car and and then they sell an aftermarket product that costs $500. Do you really think they are making more on the aftermarket product?

 

[luv2sparkle]

We buy them for certain things. My washer and dryer, for instance. With 5 kids it gets alot of use. Always buy them for laptops, and gaming systems from best
buy. We have got free systems every single time. Wouldnt buy them for a car. I dont think they are a stupid thing to do at all.

 

[oneandahalfrock]

I think that it can be worth it depending on what it is/what it covers...
It''s almost like insurance as some have said- maybe you won''t use it, but if you do, you''ll be glad you had it.
I bet you have car insurance DF- when was the last time you got in a crash...?

 

[Dancing Fire]

Date: 7/20/2009 11:48:38 PM
Author: oneandahalfrock
I think that it can be worth it depending on what it is/what it covers...
It's almost like insurance as some have said- maybe you won't use it, but if you do, you'll be glad you had it.
I bet you have car insurance DF- when was the last time you got in a crash...?

yes i do, it would be against the law in Ca for not having auto insurance.

 

[arjunajane]

Yep, I''m in the camp that''s glad I got mine for my laptop.
I''ve had to use it twice already, once for a whole new HD, so I would''ve
been looking at buying a new computer otherwise. Maybe some folks
can afford to replace everything after 3-4 yrs, I know we can''t!

I also agree this same argument could be applied to home/car insurance -
very few percent ever need to utilize it - yet most have it, and
when they do need to use it are very glad they maintained it!

 

[Lynnie]

Shh... don't tell anyone...

Our TV conked out on us about 2 weeks after the 2-year factory warranty was up. We had not bought an extended warranty; we didn't think a brand new $1500 TV would die within 4 years. It would've cost us $1000 to fix the part that broke

Our tv repairman was very PO'd at the maker of out tv... apparantly he thinks they are all pieces of crap and rip off (hint - it begins with an S and ends with a Y). So he 'fudged' the paperwork somehow so it was still under warranty.

My 1985 20" Sylvania TV is still kickin' though