So, this week we have talked about Warranties and are they worth the money you pay and of course the answer is, “It depends” (don’t you love it when I am weasley?). Here are the important things to remember:
- How likely is the thing you are buying to break and need warranty work (if it is my car, the answer is 100% likely)?
- How expensive are the repairs?
- How long is the original warranty for the thing you are buying?
- Will your credit card extend that warranty if you buy using that card? Amex, and some of the Gold cards do that?
- Is the warranty with a reputable company?
- Where do you get the warranty work done? With my GM car, I have to take it to the dealership (I’d rather take it to my mechanic, but GM only will cover work done in their OK’ed mechanics).
- Compared to the price of the thing you are buying does this warranty make sense? A $10 warranty on a $50 device means you are paying 20% more for the device? Um, no!
- Value is what you are searching for, is it worth the money you are going to pay? If it gives you peace of mind, that has a value as well.
As, I have said before, let’s just make some informed decisions folks!
- Warranties? why would you get one? Maybe you just need a good support structure?
- Warranties (Part ii) for cars? Are extended warranties worth the money? Yes, in my case.
- Warranties (again) are they worth having? More discussions on that topic.
- Warranties and Computers – should you really pay for this? I don’t but I can usually repair it myself, except Apple products.
- Warranties a Final Thought – what parameters should you consider in your decision
- Extended Warranties: An Update explains why the extended warranty on my van saved me.