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Extended warranties on electronics

I watched a segment on Campbell Live about extended warranties on consumer electronics and appliances.

The article got me thinking about the electronics and appliances that we have bought.

Do we need an extended warranty? Well, personally I think it depends primarily on the cost of the item being purchased and how much extra you’re going to have to shell out for the extended warranty.

If I purchased something that was going to cost me another $100 to get a warranty for an extra three years warranty cover, while the item is going to cost me $400 to buy, In four years time how much is that item really going to be worth. Is it going to be worth spending $100 to get it fixed in 3 1/2 years time.

That’s assuming anything goes wrong within the extended warranty time to begin with.

In most cases the cost of an extended warranty seems over kill. simply for the fact that if the thing “failed” and had to be sent away for repair after 3 years, I most likely wouldn’t spend a lot to fix it. Instead I would put that money towards buying something newer and more up to date for basically the same cost I spent initially.

I guess I’m lucky, I haven’t had any real reason to even think about buying extended warranties on most of the purchases, We did buy an extended warranty on our T.V. which did come in handy when it had issues 19 or so months after we bought it.

In general, I don’t bother with them. I can find better, more fun things to do with the money