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worth getting the warranty??

ant7701
11-07-2007, 09:17 PM
Plan on purchasing an LCD in the next few weeks from bestbuy or circuit city or so. Is it worth it purchase those 2-3 year warrantys for $300. What I mean is they all come with a year manufacturer warranty. Is that enough or is the extra year or 2 worth spending that much money.

I would think that if the TV is gonna have any problems.....there gonna happen right away (6 months or less) and not just start happening 2 years later.

also....this would greatly aid if I decided to purchase from an online website that doesnt offer an extended warranty option.

anyone have any experience with situations like this. My last sony tv I spent $175 for 3 years warranty extension and never used it, never had to. Same with my LCD computer monitor.

Scottnot
11-07-2007, 09:22 PM
anyone have any experience with situations like this. My last sony tv I spent $175 for 3 years warranty extension and never used it, never had to. Same with my LCD computer monitor.

Yep, that seems to be the norm.

Purchase with a major credit card and you are covered for an additional year at no extra cost just in case the unexpected does happen.

z28rod
11-07-2007, 10:47 PM
Costco gives 1 yr added to the manuf. 1 yr warr at no cost.

Loves2Watch
11-07-2007, 11:26 PM
Did you know that 100 percent of Circuit Cityís annual profits come from the sale of extended warranties? How about Best Buy? Forty percent comes from extended warranties. Thatís why salespeople are all over you like a cheap suit when you go to Circuit City or Best Buy. Clark just read a Consumer Reports article on extended warranties that confirmed how useless they are. The only product CR says is worth it is a high end treadmill. The smartest thing you can do is to buy an item on a credit card because some of them automatically double a manufacturerís warranty. Thatís like getting a free warranty. Business Week got more in detail with extended warranties. The magazine found that if you were to buy a $1,000 RCA digital TV, Circuit City charges $100 for the warranty. Best Buy charges $62. But WalMart charges just $29 for the same warranty. So, itís a huge mark-up. Salespeople receive a huge amount of pressure to sell these things, and you pretty much never should buy one. Appliances, electronics and computers rapidly decrease in value as soon as you take them out of the box. Why would you want to insure that? Plus, the average cost of a warranty is as much as a repair. So stay away from extended warranties at all costs.

ant7701
11-08-2007, 12:07 AM
Yep, that seems to be the norm.

Purchase with a major credit card and you are covered for an additional year at no extra cost just in case the unexpected does happen.


really??? is there any proof in writing to cover me just incase something goes wrong? Is that the credit cards policy or all stores?

also....about the costco one year extra....how exactly does that work.

lrodptl
11-08-2007, 03:09 AM
The top Plasma and LCD brands had no repairs needed on about 98% of their sets within 3 years of purchase and those that did averaged about $300 in repairs. Based on 75000 responses to CR.

Scottnot
11-08-2007, 07:13 AM
really??? is there any proof in writing to cover me just incase something goes wrong? Is that the credit cards policy or all stores?

It is part of the credit card agreement, and yes, it is in writing. It is contained in "Summary of Additional Program Information" (or similar), and usually called "Retail Protection Coverage" and "Extended Warranty Coverage" (or similar).
It will extend any mfgr's warranty "up to one additional year".
Also, there is coverage for "lost, stolen or damaged" under some circumstances, that is worth knowing about.

andie
11-08-2007, 05:23 PM
before i read it here by lovestowatch, was going to suggest purchasing at wal mart..cant beat their price for warrantees..
and i agree the hassle and cost of repair sometimes doesnt pay..
have never bought fridge, washer, dishwasher warrantees..many yrs of purchases, havent been disappointed yet!

Bleedgreen71
11-08-2007, 05:43 PM
two points:

As a sears sales associate I make 9% commission on all extended warranty sales and the store makes 50% for the store "profitablity." Its worth it if you TV's breaks....but that is very unlikely...And the yearly "cleaning and preventative maint" is pretty good for rear pros. but not so much for a flat panel....i just don't see the value....now hopefully my DLP doesn't break since I didn't get the warranty

LazerGuided
11-08-2007, 07:25 PM
Extended warranties are the biggest scam on the earth.

1. They are the biggest money maker for a store. Because they can sucker you in good and for the most part they do.

2. If your product is going to break, more then likely it will be in the first year. So your covered.

ScottyMacZ24
11-09-2007, 07:01 AM
First, not all warranty coverages are the same. The manufacturer's warranty is limited. Which means they have several exclusions to their coverage. Same thing if you have a credit card that doubles the coverage. You will get double the limited coverage. The same applies to Wal Mart. They offer an extended warranty which means it is an extension of the manufactures limited warranty. Circuit City or Best Buy will have the best coverage because it will generally cover almost anything except physical damage.
Second, just determine if what you are buying is worth getting a coverage and that coverage meets your needs, then do it. if not, then don't. Just read what the coverage policy states. Simple enough.

Scottnot
11-09-2007, 07:17 AM
Just to clarify . . . . .

First, not all warranty coverages are the same. The manufacturer's warranty is limited. Which means they have several exclusions to their coverage.
The term "limited" warranty is pretty much legalese to indicate there is no warranty for consequential damages such as loss of use, or failure of product to perform as expected.
In reality, all warranties are parts and labor, each for a specified period of time with either in-home or carry-in service.

Circuit City or Best Buy will have the best coverage because it will generally cover almost anything except physical damage.
I don't believe that the CC or BB cover anything beyond what the mfg warranty covers, since all are parts/labor.
However, the credit card warranty does cover physical damage and certain other loss situations for up to 90 days after purchase. For example; drop the set while you're installing it and the credit card warranty will cover you (most of these loss types are limited to $1,000 however).