Should You Buy an Extended Warranty ?
Have you bought a kitchen appliances and the salesman ask you to add on your warranty? It look cheap rather than previous warranty but is it worthy to buy?Do you think the extended warranty is really useful or not? Many company sell their extended warranty and some of us use it.
What is Extended Warranty ?
Extended warranty or sometimes called a service agreement, a service contract or a maintenance agreeement is a prolonged warranty offered to consumers in addition to the standard warranty on new items.Consumers are often given the option to include the additional coverage either at the time of purchase or when the standard warranty is approaching its end date.
Most warranty may be offered by the warranty administrator, the retailer or the manufacturer. You need to pay additional extra to extended your current warranty.
image hosting gif
So, this is my point of the extended warranty
– Many products include manufacturer’s warranties and mostly manufacturer’s Warranty Period is usually 1 year. After that the damage must be consumer warranty.
– Extended Warranties Lengthen Warranty Period and May Include Additional Features. It means that you also for unnecessary warranties.DaveRamsey Has Just Say ‘No’ to Extended Warranty because mostly it is overpriced..
– Only few products actually broken after the basic warranty period expire.
– The cost of the extended warranty sometimes outweighs the expense of just fixing the item on your own.
– Some extended warranties overlap the manufacturer’s warranty and know that, despite some marketing claims, an extended warranty is not technically “insurance.”
– Extended Warranties Are Not Always Effective. Extended warranties are typically rife with exclusions and fine print
If you’re considering an extended warranty, determine whether or not you can afford to pay for a major repair or replacement out-of-pocket. If the answer is yes, and especially if you don’t rely on the device for income, avoiding the extended warranty is probably your best bet. But if you’re the type that will sleep easier with the additional peace of mind an extended warranty affords, purchasing one could be worth the price. However, remember that such warranties may not be as comprehensive as you think. Fully investigate all aspects of the warranty coverage before making your final decision.
Okay, how about your opinion? Do you think it is worthy to buy an extended warranty? Let’s share with us.