Extended Warranty Info for the Concerned Consumer
Do You Really Need an Extended Warranty?
It is very difficult to shop for any appliance nowadays without being offered an extended warranty on the item. An extended warranty is offered for nearly every appliance you can possibly by including televisions, VCRs, DVD players, washing machines, dishwashers, vacuum cleaners, and stoves. As a concerned consumer, you might be wondering whether or not you really need to buy the extended warranty when the sales associate offers it to you.
Don't Bow To Pressure
Sometimes the sales associates can be pretty convincing and persistent when trying to sell you an extended warranty, and you might end up purchasing it to keep the sales transaction moving along smoothly. There are some tips you should definitely keep in mind for determining whether or not you really need that extended warranty.
Sometimes It's Not Worth It
It’s quite obvious that you don’t need to purchase an extended warranty every time you purchase a new appliance. There are certain times when an extended warranty will not be worth it. If the price of the item you bought it less than double the cost of the item, you really don’t need an extended warranty. Manufacturers typically offer a warranty anyway, and it doesn’t make sense to pay a high price for a warranty if the price of the item doesn’t cost that much more than the price of the warranty. If something happens to your appliance within the time frame when the original warranty is still in effect, your product will be covered.
Very often a manufacturer’s warranty lasts at least a year. Following that time frame, if something happens to your product, you can replace it at your own cost. Products will eventually wear out; they are certainly not made to last forever.
If you are making a major purchase such as buying a new car, then it definitely makes sense to get the extended warranty. For small appliance purchases that cost less than $100 or $200, though, it rarely makes sense to get the extended warranty.