Quote:
Originally Posted by ApK
I agree with you. No.
Many a financial adviser will tell you extended warrenties NEVER make sense, period.
They are probably right, however I still might buy them if and only if the cost amounts to nothing more than a tip, if I'm happy with the sales person. Selling Extended Warranties is usually a very significant part their compensation, so if the EW only costs me a buck or two (as it sometimes does, especially when there is a promotion on them) and I got good service, that is like a tip my mind.
I have long since given up the notion that I will get any value out of them. Multiple bouts of fighting with warranty companies for coverage and getting shoddy repair work has proven to me that the piggy bank would have been the better investment by far.
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I have bought five-year extended warranties for TVs, and have had occasion to use them in that last year to get refunds or replacements. The one time I didn't, on an LG TV--because the max was four years and all my TVs had been fine for at least that long--the LG died after only about two years. So for the next TV, I got an extended warranty again.
I also buy extended warranties for shredders and robot vacuums. Based on personal experience, these items fail immediately after the manufacturer's warranty runs out.