If you are in the market to purchase an appliance and are thinking about purchasing an extended warranty, then i have come up with 10 things to consider before buying an extended warranty policy.
I never do, expensive, was let down, better to risk having to pay! Saved a lot of money over the years, better to replace! Spend guarantee money on a new appliance! Good video.
when a company does not stand behind its hardware with a good guarantee it just shows they dont trust their own craftsmanship and you should not either.
Companies offer extended warranties because it makes them money. They calculate that they will make more money from selling the policy than it will cost them to do the repairs. The appliance might never go wrong, the customer might forget that they have the policy or they might be able to wriggle out of paying because of something in the small print. And if the companies are making money, that means that customers are losing money. Take a look through your house at all the things you have bought that have not gone wrong. So the smart thing to do is to self-insure. Never take out an extended warranty on anything unless you can get it for free. Use the money you've saved to pay for repairs or replacements on anything that does break. I've been doing this for years and it has saved me a huge amount.
I had Bosch Dishwasher and the previous model lasted me a long 14 years and was still working but rust with wear and tear on the basket rack, side panels, etc was showing. I decided to buy a new one and did NOT take the 5-year warranty as I was confident it would last me say at least 10 years since the old one went beyond that! Unfortunately, the new model only lasted just 4 years and 2 months and the fault was an electrical spark that somehow blew the electronic circuit board, etc. It was sadly beyond economical repair. The repairer charged me £60 to diagnose that it could not be repaired and a further £60 when I ordered a new one to fit the integrated unit and dispose of the old one. I spend £120 (60 +60), Had I taken the £90 Five-year warranty I would have been safe. A new one cost me £400. So, I was £400 + £120 = £520. Oh well, guess I was just unlucky! Just curious if anyone has had a similar problem of a circuit blowing up on the Bosch integrated dishwasher! As the saying goes, OLD is Gold.
I remember when I purchased my Miele washing machine, I was asked if I wanted an extended two year warranty. I refused. Thirteen years later, that same Miele washing machine is still in good working order. That's because I knew I was paying for a well respected brand. Miele washing machines are heavy and built like a tank which required two guys to bring it in from the delivery lorry outside.
We bought a Samsung dishwasher because we thought it was a good mark. Boy were we wrong. After a couple of service calls to replace a blown fuse deep inside the machine when it went out of warrantee I changed the fuse to a slow blow fuse. We don't use it much these days but the front panel controls labels have all but been cleaned off. Just because it is a brand name doesn't mean that it will be a good one.
@@misamsung6191 Miele are the Rolls Royce of washing machines. Made in Germany. Most people that know about washing machines will tell you that. Miele have their own engineers that they send out to fix should anything go wrong. Unlike other brands where the customer has to find any old Tom, Dick or harry to repair them. 😄
I was once worked with Lowes as a csr you know the feeling that you want to help the cx who really badly need to fix or wanted to have a brand new refrigerator bad the company doesn't want to replace the product. I really don't want to work with Lowes again.
Having to deal with the manufacturers warranty could be a huge pain in the ass. If they come out and fix it it's not in a timely manner if they agree to fix it at all.
Does anybody ever do a quick bit of mental arithmetic before taking these policies out? They start at around £7 a month, that's £84 a year, if the machine lasts 5 years you've paid £420. Had you just kept it, you'd have change out of that for a new machine.!
If you want to extend the warranty compare both prices as you may find it cheaper to buy the warranty at the time of purchase rather than waiting until it is almost out of its manufacturers warranty
Don't bother they are rubbish I had one for years and couldn't claim when I needed to cheaper to buy new nothing these days are worth repairing. I personally would avoid especially with domestic and general 😡👎
Our extended warranties policies/insurances here in Brazil works great. They're about 10 to 20% the price of the product for a three-year period and law enforcement guarantees we're getting what we paid for.
