Extended warranty advice

7 years ago

last modified: 7 years ago

I am looking to get an extended warranty for my Whirlpool washer & dryer. I can get five years for $550 or I can get three years for $160 - that is for both machines combined.

That's a lot more money for two extra years. Conventional wisdom says that most things will fail early on, if they are going to fail. But that may not be as applicable to things with lost of moving parts (and big ones) because they get more wear. I think something like a washing machine is more likely to break down after three years than a microwave oven. But I just don't know if it's worth paying more than triple to get two more years.

If I make it past three years without any problems am I probably in the clear? I probably do less laundry than most so I might use it as much in five years as many people would in three years, so maybe any latent issues will take longer to reveal themselves.

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Kim G

7 years ago

I have collected several times with my Amex Platinum. Most recently was a less than 2 yr old Sony LED TV. THey want to see the warranty from the manufacturer .They wanted an estimate to repair but told them no repair shop in the area. They refunded full purchase price. We have never not collected from them.

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Comments (7)

User
7 years ago
Extended warranties are a waste of money. Skip any of them. You get 12 months from the manufacturer. Stick with that.
uscpsycho
Original Author
7 years ago
You mean a waste of money for everything or just appliances? I have benefited a lot from extended car warranties and Applecare warranties. If you're making a blanket statement, I don't agree with it.
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Steve J
7 years ago
What Green says. Also, some credit cards double your warranty as a perk. Look into that and save your coin.
Steve J
7 years ago
Psycho, its widely known that extended warranties are a waste of money for most people. They sell them for a reason, to make money by basically selling you nothing. You’ve apparently gotten lucky a few times, but in my experience, you’re better off putting that warranty cost into buying better quality items.
uscpsycho
Original Author
7 years ago
I know some credit card companies extend the warranty but I've never tried to go that route. I always imagined it would be a big hassle and I would get the runaround. Can you really count on a credit card company extended warranty?
wekick
7 years ago
At one time I would have agreed that extended warranties were a waste of money but you have to evaluate a little more closely now. You didn’t say what your models are. What is the cost of a service call? What is the cost of the appliance? How many computer boards do you have? What are the terms of your warranty with the appliance. What warranties can you get added for nothing? Have you looked into alternatives like Square Trade?

Reading the terms of the extended warranty and knowing who will do the work are key. What is the warranty company’s reputation?

One appliance I would always have an extended warranty on these days is an oven. They have computer boards and the hidden bake element puts a lot of stress on the bottom of the oven.