Most products come with a year warranty if you purchase them new, right? It also seems that you can buy an extended warranty for just about anything.
The first time I remember being offered an extended warranty was when I bought a Walkman. I’m dating myself! Does anyone even own Walkmans anymore? Trust me, at the time it was pretty state-of-art with its automatic cassette-flipping abilities. The salesman offered me additional insurance and I went for it because I would have been devastated if anything happened to my favorite new toy.
Since then, I usually choose not to buy extended warranties. Partly because I don’t want to pay more, but also because I figure if the item of the moment breaks down after a year, it will probably be outdated anyway.
There has been one notable exception. When I was offered an auto warranty, I bought it. I’m not so sure it was a good idea for me because I hardly drive (after seven years the car only had 30,000 miles) and I’m pretty good about doing the scheduled maintenance.
Recently, I bought a camera that cost a few pennies and I did not buy extra insurance for it. I hope I don’t jinx myself. Of course, now I’m walking around terrified that I’ll drop it or something. But no! I’ve decided that won’t happen.
I think for the most part I am not partial to buying added insurance. How about you? Do you regularly buy the extended warranty for electronics? Have you ever bought a car warranty? Did you have to use it?
This post was sponsored by Fidelity Automotive Solutions. The ideas and opinions are my own.
Something’s up with my comment…it didn’t post. Anyway. I was gonna say that I do remember walkmans..and when they went really hi-tech…DICSmans. 🙂
I might still have a Discman laying around somewhere.
My husband got super-conned while I was in the last trimester of pregnancy to get the extra warranty on my current car -“Oh! It covers EVERYTHING.” but it covered SQUAT when we tried to use it six months later. Ugh. Not a fan. Also, hubs not allowed to negotiate for cars any more. And he AGREES!
Your poor hubby. He probably won’t live that one down for a long time.
I only said something after the warranty didn’t work. I told him, you will not negotiate for cars any more. He got hosed on that WHOLE deal – including the trade-in. He shook his head and agreed. I didn’t say a word when about a year later he told me he wanted to buy an Aviator, he found three he liked at a dealer, told me what he wanted to pay and asked if I could come in and play “bad cop” with the sales guy. 😉 He got the car he wanted for $500 less than he wanted to pay and WAY under blue book. I am a bad a$$ negotiator.
I need you to come with me next time. I suck at negotiating.
You have to not want it more than they want to sell you the car.
I don’t buy them. They are a big money maker for the stores which is why the push them. My daughter believes in them and has cashed in because of a few accidents. They are really just insurance and odds are on the side of the company. Maybe I’m just ok with taking chances more than some.
I guess I’m a bit of a gambler too.
I drive cars until they fall completely apart. Case in point, the car I bought in 1999 currently has 120,000 miles and is (please don’t jinx me karma) up to date on all scheduled maintenance and running well. I bought the extended warranty and used it for a couple of things that were later recalled.
We bought an extra warranty on a recliner (bought it back in July). We paid about $150 for the recliner and an extra $50 for the warranty and in October my daughter barfed buckets of liquidy stuff, then came the slimy stuff, and lastly came the chunky stuff (or was the order reversed? Nonetheless, the warranty covered someone coming out to steam clean it. We’ll probably have someone to come out in July to do a thorough cleaning again in July.
But for televisions and other electronics, I turn the offer down because that stuff should work. I shouldn’t have to pay someone to fix my new TV or whatnot.
I’m like you, I don’t like to buy extra insurance beyond the free one-year warranty because I don’t think I should have to. If the product is not good enough to last a year, why am I buying it in the first place? How about companies start by NOTmaking stuff that requires us to purchase protection for peace of mind? How about they just make good quality products to begin with.
Depending on the terms of your household insurance, you may already be covered for accidental damage and loss, especially for big ticket electronics (including cameras) I think some of the premium credit cards also offer automatic protection for the things you buy with the credit card. – G
PS. – Loved the Walkman reference! Yes I remember that auto-flip feature being considered quite high-tech! And when tSony came out with the waterproof Sports Walkman? Hole-y crow, was that ever exciting!
I only did on my daughter’s camera because well she is a teenager and things happen magically and never her doing! Other than that I’ve never bought or used a warranty.
I try to stay away from any extended warranties mainly because I know I’ll just pay for them and forget I have them. My walkman still works (-:
after seven years the car only had 30,000 miles? man, you’re good! After 3 years, mine has almost 100,000 miles! LOL
I usually don’t get extended warranty because if the item breaks, it will most likey be within a year. And as you said: if the item of the moment breaks down after a year, it will probably be outdated anyway. 🙂
I usually don’t buy the extended warranty because I’d never remember what appliance or product I bought one on. However, I did buy one for my new car. It was $1100 for 100,000 or 10 years, which ever came first. I’ve calculated how much I’ve saved and it’s been well over $3,000. I’m now at 6 years and 94,000 miles, so I’m listening for every sound or clink to make sure that in the next 6,000 miles I get it looked at and repaired LOL I love my car, but it has had some problems and the warranty has been a true blessing.
I also bought an extended warranty on my MAC and I have needed that once. I’m glad you mentioned that. I think my warranty is almost up and I need to see when that is.
I just bought a laptop (my first ever!! woot!) and struggled with this. But seriously? The warranty was over $200….and that made it almost half the price of the laptop, which just felt….wrong somehow. So I didn’t get it.
Should I start crossing my fingers now…just in case?
That’s how I feel about it most of the time. It makes the item way more expensive than what I wanted to pay.
I have never bought an extended warranty….it would take some thought to figure out if I ever could have used one. I feel like they are just a profit center for whoever sells them.
I do and I don’t. For electronics, including cell phones and big screen TV, I didn’t buy any insurance and I haven’t had a problem.
When I bought my car, close to 3 years ago, it was used and although from a reliable maker I bought the insurance because of the high mileage: that’s why I got a bargain. First repair (needed new headlight), not covered, out $250. Second repair very costly, all covered, no deductible.
If you can’t afford to replace or go without, get the insurance.
Based on everything I’ve ever read about extended warranties, they are generally a waste of money. Most extended warranties also cover the regular warranty that automatically comes with the product. So for example, a product comes with a two year warranty. The extended warranty is for three years. But, it’s not an additional three years for a total of five. The three years of the extended warranty begins on the date of purchase, so the first two years of the extended warranty are overlappping the two years of the regular one. All you are really getting with the extended warranty is one additional year. You have now paid for two wasted years, and really only got one extra year for your money. You have read the fine print.
We don’t buy extended warranties, anymore. It’s a Murphy’s Law thing that gets me every time.
I have never taken advantage of the extended warranty. Not on anything. My thinking is that if what I am purchasing new isn’t made well enough for a normal use than I won’t buy another one.
We do not buy extended warranties however we did buy one on our built in refrigerator.
We have been told they can be very costly to repair.
I never buy extended warranties. When I was young, I bought a couple and when I went to use them, it was almost impossible.
We did get a car warranty and used it some but not enough to warrant the cost.
On a side note, they just stopped making Walkmans (it was on GMA) a couple months ago.
🙂
Traci
I don’t buy warrantees, though I am a fan of insurance (especially for cell phones).
I mostly don’t buy extended insurance, mostly because I’ll probably forget about it and wouldn’t use it anyway. However, we did on our washer. I taped the number to call right on the washer so I won’t forget about it if somethings goes wrong with it.