Are extended warranties and service plans for major household appliances worth it? (8)
galradsDublin, Ohio USA2,264 Threads 279 Polls 36,283 PostsMy stuff in my new home are getting old. They are almost a year old now. Everything in the kitchen is bosch, laundry stuff is lg. Quotes for single item additional three year coverage averages about $300.00 each. Are they worth it?
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If you could purchase anything that will "extend life" why wouldn't you? (considering you want it to live long)
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galrads: My stuff in my new home are getting old. They are almost a year old now. Everything in the kitchen is bosch, laundry stuff is lg. Quotes for single item additional three year coverage averages about $300.00 each. Are they worth it?
Absolutly worth it! Extended warranties are sold to you just for your benefit.
Because you need them and life wouldn't be worth living without.
Omg, what if it breaks down??
Or maybe they are just sold because there might be a tiny bit of profit to be made ?
But they wouldn't be that devious for sure...
btw, 1year, is old??
If you're planning to change your appliances each year what's the point of extended warranties?
Hello?
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galrads: My stuff in my new home are getting old. They are almost a year old now. Everything in the kitchen is bosch, laundry stuff is lg. Quotes for single item additional three year coverage averages about $300.00 each. Are they worth it?
If it was worth it, they wouldn't sell it. You lose more than you win overall in order to chase a little bit of uncertainty out of your life. That's the rule with insurance. Everything's rigged to avoid the gamble.------ This thread is Archived ------
The sale of insurance is based on fear, but a better solution would be a new attitude to saving where you have the money to buy a new fridge when necessary. Logically insurance is not worth it unless the "what-if" scenario is so catastrophic. There's definitely a point in insuring the small and petty where you really need to grow a pair, you can't keep wasting money like this.
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I wouldn't buy one through sears...they almost closed down in the u.s. and they did here....they don't honor warranties after they close down but guess what...they will still take your monthly payment out and it will effect your credit if you dont pay....that's whats going on here..and I would say they're still on shaky ground....
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M4_Mischief: I wouldn't buy one through sears...they almost closed down in the u.s. and they did here....they don't honor warranties after they close down but guess what...they will still take your monthly payment out and it will effect your credit if you dont pay....that's whats going on here..and I would say they're still on shaky ground....
i just wanted to add, (for folks not from canada and not familiar with this issue) that when scotiabank purchased sears credit card accounts, they did not purchase extended warranties or obligations with warranties. many people had purchased both the appliance and the warranty with credit cards. they were told to work out the warranty part with sears, but there is no sears here to contact as it no longer exists. this left people owing the balance of their credit card (including warranty no longer being offered) to scotia bank. as well, many people purchased warranties because they were told they would get that money back from sears as a credit if they did not use the warranty. many of these people decided to continue to make credit card payments on the appliances but did not include the warranty portion of payment since it is no longer provided. the result has been that those customers not paying for warranties that are no longer provided are having their accounts sent to collection agencies and their credit is being ruined.
sooo.... would i buy the extended warranty. not a chance!
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i bought a pair of North Face expensive hiking boots and was told there was a life time guarantee on manufacturing defects in materials and workmanship.
i wore them a total of six hours, and the boot cracked wide open across the top of the foot area. other than that, they look brand new.....
when i tried to get them fixed... i was told they weren't covered as that was wear and tear from normal use. i had not even gone hiking yet...
so i no longer trust warranties or 'guarantees'.
i wore them a total of six hours, and the boot cracked wide open across the top of the foot area. other than that, they look brand new.....
when i tried to get them fixed... i was told they weren't covered as that was wear and tear from normal use. i had not even gone hiking yet...
so i no longer trust warranties or 'guarantees'.
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Created: May 2019
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