chipper
Well-known member
Do you buy them when you buy expensive stuff? I just bought a new 150bt husquvarna from lowes but i passed on the plan i comes with a two year warranty already.Would you have bought it? Thanks gj
protection plans
- Thread starter chipper
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warmpancakes
Well-known member
depends what it covers and what the items is, Wifes vacume from sears yep, 2 kids and a dog she destroys them, sears even covers the bags Took it in last week because the belt was slipping, got it back 2 days later all new filters,belts,bag they even cleaned it up like new
NEVER!!! It's a fool's bet.
Take the money you'd normally spend on these silly schemes and put it in a separate account. Use that account to pay for repairs that a protection plan would normally pay for. After several years you'll accumulate a large balance!!
Most of these schemes represent a large margin for the seller. You'd be better off pocketing that margin yourself.
Beside that, these plans are carefully written by armies of lawyers. They include many little loopholes to prevent them from paying in many situations.
If you're worried, use a credit card that doubles manufacturer's warranties.
scaron
Well-known member
no way. if it ever breaks, i'll fix it myself with parts from ebay. 
aka Larry
Well-known member
My buddy bought the smaller HF aluminum jack and the warranty plan. He gets a new one yearly.
firebox40dash5
Well-known member
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- Mar 19, 2012
- Messages
- 4,185
Most of this. I look at who's offering it. Squaretrade and such are like prepaid legal... "We'll cover anything that needs to be done, unless it needs to be done, in which case it's excluded."
I bought a cheapish 4 year one years ago from CompUSA on an expensive printer. About 3 years in, of course, it takes a dump. It allowed me to just bring it in and swap it, not mess with paying shipping that often approaches the value of the item. Walked in with a broken printer, walked out with a working, newer, better model.
The ones that really piss me off are cell phones. $10+ every month, to be able to swap a phone in store. I had a Blackberry back in the day, and their policy was that carriers handle warranty claims. Well, Sprint's policy was that the manufacturer handles them, or you pay them $35 for mail-in service. Which I'm pretty sure, since they're obligated by the manufacturer to handle warranty claims, violates the Magnuson-Moss Act.
Zrexxer
Well-known member
There's a concept in quality assurance about product life that's demonstrated by what's called a "bathtub curve," which describes the shape below. Basically, the failure rate of any product is high when it's brand new - the "infant mortality period," where products fail very early in their life due to manufacturing defects.
Then, once you weed those out, failure rates are very low during the product's normal life. Then they start to rise again as the product wears out. When you buy an extended warranty or protection plan, you're paying to cover the product through the normal service life when the failure rate is low.
It doesn't take much to see that's a sweet deal for the company - you're paying them extra when their risk is lowest. I never buy extended warranties. The deck is not stacked in your favor.
Then, once you weed those out, failure rates are very low during the product's normal life. Then they start to rise again as the product wears out. When you buy an extended warranty or protection plan, you're paying to cover the product through the normal service life when the failure rate is low.
It doesn't take much to see that's a sweet deal for the company - you're paying them extra when their risk is lowest. I never buy extended warranties. The deck is not stacked in your favor.
Farmall450
Well-known member
There's a concept in quality assurance about product life that's demonstrated by what's called a "bathtub curve," which describes the shape below. Basically, the failure rate of any product is high when it's brand new - the "infant mortality period," where products fail very early in their life due to manufacturing defects.
Then, once you weed those out, failure rates are very low during the product's normal life. Then they start to rise again as the product wears out. When you buy an extended warranty or protection plan, you're paying to cover the product through the normal service life when the failure rate is low.
It doesn't take much to see that's a sweet deal for the company - you're paying them extra when their risk is lowest. I never buy extended warranties. The deck is not stacked in your favor.
Exactly. They aren't trying to help you out...
ChevyEFI
Well-known member
For the vast majority of items, I don't even consider it.
One I bought 10 to 15 years ago on a laptop worked out well, however.
One I bought 10 to 15 years ago on a laptop worked out well, however.
383 240z
Well-known member
Most of them are a BIG TIME profit generator. However there are a few exceptions the ones we offer are a pretty good deal IF you use your Jeep. Ours are no questions asked, just provide proof and we send a new one. 5 years of coverage. Here is the break down. $299.99 soft top for your TJ, $45 for the warranty 4 years 11 months later middle of the winter your out wheeling you spin a tire. The Jeep goes sideways and a branch takes out a window, call me up send a pic and you get a new top.
That being said a LOT of places use lawyer speak to wiggle out of paying up. Not us. We do it so guys are not worried about going off road and pushing their Jeeps, then they call us for more upgrades, like lockers, gears, better tires, more lift. Keith
That being said a LOT of places use lawyer speak to wiggle out of paying up. Not us. We do it so guys are not worried about going off road and pushing their Jeeps, then they call us for more upgrades, like lockers, gears, better tires, more lift. Keith
+1 to what everyone else has said about not buying an extended warranty/protection plan.
^^ this is great advice. Most cards offer this these days and has helped a number of friends and family. I guess I've been lucky and not needed to use the card's protection yet.
^^ this is great advice. Most cards offer this these days and has helped a number of friends and family. I guess I've been lucky and not needed to use the card's protection yet.
Spudland_Dave
Well-known member
I look at it like this...if it were really in the consumers favor...they wouldn't be begging you to buy it at cash out where its a spur of the moment impulse buy. Not to mention EVERYBODY is in the extended warranty sham...if its got 2 or more parts, they usually ask you to buy it..."Would you like an extended warranty for 7.99 for that pair of scissors sir?"
Back in college one of my best friends worked at circuit city...he got paid commission, and would make more commission on selling the warranty then the actual product...again, whats that tell you.
Back in college one of my best friends worked at circuit city...he got paid commission, and would make more commission on selling the warranty then the actual product...again, whats that tell you.
Zrexxer
Well-known member
I don't buy them. The best one was many years ago @ best Buy, they had microsoft optical mice on sale for $5 (lost leader ) I bought a few of them. at the check out the cashier said, would you like the protection plan on them for $6 each? I said, Pardon? she said would you like the plan for $6 on them? I laffed, she said, sorry, I have to ask... LOL
jakemac
Well-known member
A couple years ago, I applied for a job at HF when they opened a store near me. I was told at the interview that the hourly rate wasn't too high, but that most employees can make up for it by getting commissions on selling the extended warranties. It's just as well that I didn't get the job (I think I knew too much about retail for their tastes). I would have gone broke because I've never been comfortable pushing a sale on a customer. I've always done better by being honest about the product and steering them towards what best fits their needs-vs-budget. That was the kind of service that created return customers, not "sales analyst's" parlour games.
Well, that and I don't believe in that extended warrantee BS anyway.
Well, that and I don't believe in that extended warrantee BS anyway.
cburnscrx
Well-known member
I do at a certain office supply establishment for my technology needs. Lets put it this way, I am very happy with my warranty and have only used it once.
nicksnothereman
Well-known member
"Refurbished"--Usually yes unless it's real cheap.
"New"--never.
I try to take care of my stuff and it rarely if ever lets me down. You know...if you're plugging something in make sure you use a decent power surge strip. Word of advice even if your house is newer. That's probably why all my 20 year old electronics still work (sharp vhs player FTW!). Hey, can't find some b-movies on dvd! Gotta rock the vhs.
Spudland_Dave
Well-known member
I've always viewed New vs Refurb like this....
-New...was built and slapped in a box, units randomly QA'd at what...1 in a 100 or what have you, factory warranty would cover an out of box DOA.
-Refurb....each one was gone thru by an authorized service depot...completely hand rebuilt and each one tested. Nothing says they are perfect, but chances are if they don't come out of the box DOA...same thing as a new. Heck with most if not all the refurbs I've bought, the only way you could tell is by the engraving/marking on the SN# or what have you.
The bath tub curve posted above applies to both new & refurb...I'd give an advantage to refurb for the mere fact each one was QA'ed to some degree before boxing.