Like a good neighbor, I am here.
Posted 03-22-2007 at 07:30 AM by mycoupons
Thursday's are reserved for your questions. Email me and any reasonable questions will be answered to the best of my ability.
Lacey J. from Cape Coral, Florida asked the following question:
Dear Cici,
Should I buy the extended warranty that I am always offered on electronics, appliances, and so on?
Dear Lacey,
The answer to this question can separate the masses. On one side you have die-hard warranty lovers, who would purchase a warranty with a toothbrush if they could. On the other side you have those who believe a fool and his money are soon parted and usually during the purchase of extended service plans.
I am more a member of the latter group. That is not to say that I have never purchased an extended warranty, because I have.. Extended warranties are like insurance- you don't need it until you NEED it.
Extended warranties or service plans are offered by third parties, like the store or a separate agency. They are an 'up sell,' a way to increase profits.
When we bought our laptop last year, we were offered an extended service plan of 2 years for $149. The salesman told me it covered the laptop for two years after the manufacturer's standard one year warranty expired. Before purchasing, I read the plan.
It was an inclusive plan, which meant that the extended warranty WAS for two years, but started at the day of purchase. So in essence, for the first year, I would be covered by the manufacturer AND the store. The hook here is that I really would only be getting ONE year of extra protection.
Extended warranties CAN be helpful on certain big ticket items. Our 65" big screen TV for example. A quick Google search showed that a replacement bulb for this TV would be $475! We watch a lot of TV- chances are the bulb would burn out eventually. The $129 warranty was a better bargain.
Nine months after we bought the TV, the bulb blew. Magnavox sent out a tech, he replaced the bulb. Free of charge. I was VERY glad I had the warranty.
I wouldn't recommend buying ANY warranty that will cost more than 10% of the purchase price. Do your research. Did you know you can buy your computer at Best Buy, and purchase an extended warranty on it at CompUSA?
Truly, the best thing you can do is subscribe to Consumer Reports. For a nominal fee, you will have access to literally thousands of reviews. There will be no need to pony up an extra fifty bucks for a warranty on your new microwave if you find out BEFORE you buy it that 9 out of 10 people thinks it stinks.
Purchasing a warranty is a very personal decision. Like insurance, you need to decide how much risk you are willing to take.
Hope that helps!
Until we meet again,
Cici
Cici@MyCoupons.com
Lacey J. from Cape Coral, Florida asked the following question:
Dear Cici,
Should I buy the extended warranty that I am always offered on electronics, appliances, and so on?
Dear Lacey,
The answer to this question can separate the masses. On one side you have die-hard warranty lovers, who would purchase a warranty with a toothbrush if they could. On the other side you have those who believe a fool and his money are soon parted and usually during the purchase of extended service plans.
I am more a member of the latter group. That is not to say that I have never purchased an extended warranty, because I have.. Extended warranties are like insurance- you don't need it until you NEED it.
Extended warranties or service plans are offered by third parties, like the store or a separate agency. They are an 'up sell,' a way to increase profits.
When we bought our laptop last year, we were offered an extended service plan of 2 years for $149. The salesman told me it covered the laptop for two years after the manufacturer's standard one year warranty expired. Before purchasing, I read the plan.
It was an inclusive plan, which meant that the extended warranty WAS for two years, but started at the day of purchase. So in essence, for the first year, I would be covered by the manufacturer AND the store. The hook here is that I really would only be getting ONE year of extra protection.
Extended warranties CAN be helpful on certain big ticket items. Our 65" big screen TV for example. A quick Google search showed that a replacement bulb for this TV would be $475! We watch a lot of TV- chances are the bulb would burn out eventually. The $129 warranty was a better bargain.
Nine months after we bought the TV, the bulb blew. Magnavox sent out a tech, he replaced the bulb. Free of charge. I was VERY glad I had the warranty.
I wouldn't recommend buying ANY warranty that will cost more than 10% of the purchase price. Do your research. Did you know you can buy your computer at Best Buy, and purchase an extended warranty on it at CompUSA?
Truly, the best thing you can do is subscribe to Consumer Reports. For a nominal fee, you will have access to literally thousands of reviews. There will be no need to pony up an extra fifty bucks for a warranty on your new microwave if you find out BEFORE you buy it that 9 out of 10 people thinks it stinks.
Purchasing a warranty is a very personal decision. Like insurance, you need to decide how much risk you are willing to take.
Hope that helps!
Until we meet again,
Cici
Cici@MyCoupons.com
Total Comments 0
Comments
Recent Blog Entries by mycoupons
- Wanted: Game Show Contestants!!! (07-03-2008)
- MyCoupons.com merchant of the Day: Heels.com (06-19-2008)
- MyCoupons Merchant of the Day: AmericanTailgator.com (06-11-2008)
- MyCoupons Merchant of the Day: StubBuddy.com! (06-05-2008)
- MyCoupons merchant of the Day: Shoes.com and their new coupon code! (06-03-2008)
