I never buy extended warranties. Over a lifetime, you will save a bunch even if you on occasion have to replace a few things earlier than normal. It is an effective sales tactic because it preys on fear.

Insurance is best used for high cost items that are way too expensive to unexpectedly have to replace like houses and perhaps cars...not appliances.

quote:

Originally posted by MikeGLI:

quote:

Originally posted by absolut18:
Purchase your appliances with an Amex card. It extends the manufacturers warranty by 2 years.

This was going to be my advice as well, but I'm not sure this information is accurate. I believe they double the manufacturers warranty up to two years. If the warranty on something is 90 days, Im not sure you get a years worth of warranty, I think they just double the manufactures warranty with limitations.

I stand corrected. They double the manufacturers warranty on anything under a 2 year warranty. They will add 2 years onto anything with between a 2 and 5 year warranty. Thank you MikeGLI.

Would it be profitable to sell a warranty if they didn't make a hefty profit off them? Odds are in your favor. I usually buy lesser "fancy" models. In a pinch I'll toss and replace.

quote:

Originally posted by Fredward:
Would it be profitable to sell a warranty if they didn't make a hefty profit off them? Odds are in your favor. I usually buy lesser "fancy" models. In a pinch I'll toss and replace.

I'm in this boat with kitchen appliances. I don't want all the fancy shit in them. I buy them with my AMEX like absolut18, get my two years and everything after that I figure I'm playing with house money. I don't buy garbage appliances but I'm sure as fuck not buying a refrigerator with an integrated TV and 8 doors.

If there is a Best Buy in your area you might check them as well. When we were shopping for our fridge it was interesting to see the price difference in the extended warranties. We ended up buying a Samsung from Best Buy and have had to use the Geek Squad extended warranty twice so it was worth it for us.

Samsung Washer and Dryer, opted for extended warranty. Dryer has had the Thermocouple? Blow out twice, and a new digital board or something go bad. Washer just started acting up, so far two visits now for randomly leaving pools of water in the drum. Never Samsung again.

On a car note, 2012 Ford Fusion, front end "went out" at less than 60k miles. Not sure what that means, but the dealers original quote of $3600 to replace everything was reduced to $100 because I had the extended warranty.

It depends on what your buying. I almost never buy the extended warranty but I did get it once on a CharBroil Infrared grill that I purchased at Lowes.

A few months after the OEM warranty expired the 3rd burner stopped working. I called the warranty line, they confirmed this issue was covered, and asked me to bring it in. I declined since I had no way to transport a large assembled grill and I paid for them to deliver it to me in the first place.

They attempted to have a tech come out and look at it. After 2 weeks of being unable to find a tech who could even look at it they refunded me the entire purchase price. I then repaired the grill myself for about $20 and put the balance of the refunded money to another new grill purchase a few years later.

quote:

Originally posted by ScreamingCockatoo:
If you buy anything Samsung, you better buy the warranty.
Or pay more for something else and skip the warranty.

I would strongly advise the same if buying anything GE.

quote:

Originally posted by MNSIG:
I have no experience with the Lowe's plan, simply because I think extended warranties are generally a bad deal. Yes, it sometimes can work out in your favor, but the retailers don't push them because we come out ahead.

Bingo!

In one word "no". Flip a coin and take your chance as to brands. There are lemmons in all brands.

thanks guys for the replies its in i am back in business and i am going to bite the bullet for the couple hundred bucks they dont make them like they used to

YouTube makes fixing appliances quick, inexpensive and no waiting on a service tech or parts (Amazon). I’ve fixed washer, dryer, oven and nuker. Also cars and a materials (metals) hardness tester. All under $10-20 each.

Amazing world we live in ... as my eldest son says: ”We live in the future!”

Make sure you have a paper hard copy of your warranty. As was stated earlier they will claim to have no record of it thus rendering it useless.

We used it on two washing machines. One they replaced and one they gave us back our money as the machine was no longer being made.

quote:

Yes, it sometimes can work out in your favor, but the retailers don't push them because we come out ahead.

are "we " the consumers?
or
are "we" the retailers?