Recently, Kos wrote about what a bad deal extended warranties are for just about all products. I confess, when I was young and stupid, I bought a few extended warranties. Never used them, of course - I doubt I could have found the paperwork even if I'd had cause to make a claim, given the state of my housekeeping back in my bachelor days. I know better know, and if I didn't Tiffany would kick my butt if I ever tried to spend money in such a dumb fashion again.
As is so often the case, however, this rule has its exceptions. Dwight explains the circumstances that made an extended warranty one of the best purchasing decisions ever for him. Check it out.
Posted by Charles Kuffner on December 21, 2006 to Bidness | TrackBackBeware of generalities....
If you buy an extended warranty from Mattress Mac and don't use it, the original cost (of the warranty) gets converted into a store credit.
The warranty for my projection set costs about what a replacement lamp costs and the lamp will need replacing. Basically a wash.
For most consumer electronics, Kos is on point.
Posted by: Charles M on December 21, 2006 9:38 AMI seem to be a minority, but I've had nothing but good experiences with Best Buy's replacement plan.
First time I used one was on a Palm IIIc. $400 PDA. 18 months into the warranty the power button was squishy and didn't work well, the battery died quickly, etc. Took it in, and walked out with a $400 Palm m515 - they didn't make the IIIc any more, so I got a $-for-$ replacement on a new one.
My Xbox 360 started locking up 6 months after purchase. Took it in, and 15 minutes later walked out with a new one. Saved me almost $400.
My iPod on the other hand I bought one on, but never used. But with the rep the batteries had, I don't regret it.
The key for me is that it is a REPLACEMENT PLAN, not just a warranty. Walk in with a broken Xbox, and walk out with a new one. No shipping it off for a month to Microsoft (which only covered it for 90 days anyway), etc.
I think the key is to know WHAT to buy it on. Computers are a bad idea, except laptops which are frequently treated harshly enough to need it. Portable electronics are a good idea too, IMHO - My iPod is now about 3 years old, and I'm amazed it's still going strong.
I've also not had any of the problems others report as far as the service... When I swapped my XBox I didn't have the paperwork - they looked it up for me. In fact, I've NEVER needed the paperwork for a swap at Best Buy. Nor did they give me any hassle on what was an erratic lockup problem.
Consumer Reports aside, I won't buy an expensive piece of electronics without adding Best Buy's replacement plan.
Posted by: Buhallin on December 21, 2006 3:28 PM