Should I Get the Extended Warranty for My $1,000 Phone? 

Luke Folds And yet after all these years he still has to teach these things.

Good job

Nice !

Gratz!

Well done, keep going 😀

Congrats, keep it up!!

Nice.

Sounds good but if I had 2k or even 4k I wouldn't spend 1000 on a phone

You can buy a $50 phone in reality, then save for another expensive phone. The point is the 1/5 price point is a rip off and private insurance would be about the same which also covers theft and accidental breakage.

@@Potheadmcgee14 how much you wanna bet she's paying installments on that phone?

So true...no reason at all for extended warranty on a Toyota.

Lol

Exactly, did that to my sister when she bought a Camry. A Camry! Let that sink in.

🤣🤣

Drove a Jeep Grand Cherokee for years and never had any problems with it (and I wasn't stuck driving a boring Toyota).

I’m also a firm believer in a phone case. I like the Otterbox with the silicone outer case. I barely took my new iPhone 7 out of my purse until I got the Otterbox for it. I bought the phone almost a year ago and plan to hang onto it for a while. I’m not one to upgrade unless the current phone can’t be resuscitated.

A good case is a good idea. However, how about spending $200 on a phone, $20 on a case, and call it a day?

Dean Albertson depends on what you’re trying to do with your phone. I multi-task on mine, handle my investments in real time, video call quite a lot, do test shots before my DSLR, tether my DSLRs to the phone, and play an occassional 3D game. Honestly a 200 phone would NEVER work for a power user like me. Now if it’s just for calling/texting, maybe checking your banking app, light browsing, then a $200 phone is fine. I just couldn’t do it, because a $200 phone cannot handle the huge array of tasks I assign to my phone. To me, $1,000+ is worth it, because its an investment to me. Not in the sense it’ll appreciate, it won’t.... BUT, the time, energy, and less gadgets I need to carry saves me tons of money, in the tens of thousands when considering the energy and time savings. To most people a phone is just a phone.

@@armyretguy7365 I understand the multi-use aspect of a faster phone. But to me, that is what a computer is for. It seems a little ridiculous to spend $1,200 every year getting the latest phone. Then, oops they drop it, no case, time to get another $1,200 phone.

Dean Albertson no doubt. I have a very power gaming PC and a video/photo editing pc also. Yes, I need both PCs due to wildly different specs for different purposes. I only buy a new phone every few years, not every year. As I stated though, it saves me tens of thousands of dollars, and 20+ hours or more a month in time. To me, it makes sense. To someone in my boat, it’ll make sense to them. You can’t really judge if $1200 makes sense to someone else, based on your own lifestyle. To you, it’s not practical, and there’s nothing wrong with that. To someone else, they could lose tons of money and time that makes a messily $1200 seem like a very tiny price to pay. Now, don’t get me wrong... lots of people try to keep up with the latest tech while not actually needing the specs. That IS ridiculous. I always ask myself 3 questions. 1)Does the benefit outweigh the cost in a practical sense? 2)Can I spend the money without feeling like I spent much of anything? 3)Do I need it, or want it? Need meaning it’s atleast going to better some aspect of my life. Want meaning it’s a worthless flex. If I can answer yes, yes, and need, then I’ll upgrade. If even one is a no, then I don’t.

Life insurance is the biggest scam in the modern world

Ezz Eldin Not term insurance! People without term insurance risk devastating their family when they die.

Ezz Eldin - I disagree it’s only a scam if you have the money stacked up . Hence the term more dead than alive

Wait. You can get phone insurance?

I dont get warranty, but i do got Term Life insurance!

Nothing would ever be sold if there was not a product to be made

That's probably true for any warranty. If you can't take care of a phone and stop it from breaking then you probably should have a different phone. Something more brick-like, or a cheap and more disposable phone.

I have extended warranty up to 2 years on both of my two credit cards if I pay 100% using them. That’s sufficient. Since most problems will occur during first 2 years.

Her 2yr warranty costs about as much as my used Pixel 3. That's $800 for investing. Buying new phones should be considered like buying new cars. Don't do it!

@@pkal244 dude, a 4a is $350. Buy new phones, just not $600 plus new phones.

@@bindingcurve can't fault you for that choice! I prefer front facing speakers though and I got my P3 over $100 cheaper than a new 4a but I'm a penny pincher so it makes sense for me :p

Preach!

Truth

I buy all my phones refurbished on swappa which looks new and 2 years behind the newest standards. Around $250 for each 2 year period comes out to about 10 bucks a month... Not bad in my book considering how little I care after a month

@@theonlyconstantischange123 Not a bad strategy at all. I usually buy mine used or refurbed on ebay or swappa, then keep it until it stops working or until apple stops providing updates. I'm sure this comes out to idk, $5/mo or so? And my cell phone plan I prepay by the year through red pocket (it runs on verizon towers) and it comes out to $17/mo. So my cost for a phone and cell phone plan is $22/mo. The average American with massive debt probably has their phone/plan cost at $200/mo. Just wild.

Unless u can replace it w/o crying

But you don’t understand. It’s totally different than the previous model. I don’t know HOW it’s different, but it’s newer and the commercials have celebrities!

@@IHateNicolasCage I like what a youtuber J Williams says. Half the phones are not worhter what they are and a large number of people don't even use all the features on the phone.

Of course. It’s 100% margin, and most likely it won’t be used.

Time is money faster phone gets work done. I could buy 5 phones id still pay 5 dollars a month for my damage protection

@@aquaticasmr184 but the network speed is the bottleneck.

@@chrisreynolds6391 wifi

@@aquaticasmr184 laptop

@@chrisreynolds6391 a good laptop is just as much as a phone I use my phone way.more than any laptop I cant imagine pulling out my laptop to process an ecommerce order on my website when I can do it on my phone faster

You can just learn how to fix a phone screen plenty of youtube videos there is that show you .

???? You call Apple, Applecare+, $100 deductible, they send you a NEW iPhone, you return the old iPhone in the same box.

I agree, it its irritating and LOUD. I have my cursor on the 'mute' button everytime im about to click on the epsiode, then unlcick it after the irritatingly loud intro.

They need to edit that before uploading

Ya, hit the mute button.

I thought it was just me, but I have to push my headphones off slightly until it stops......please, make it stop😂❤️

Yes thank you for that

who

I was the kid with the new iphone , min wage job money goes far at 15-17 no real bills

Phones aren't the half of it, knew plenty of kids in High School who got brand new cars (Mustang, BMW, Audi, Jeep, Raptor) without ever working. Can't blame the kids, its not like I would have turned it down if I were them.

Haha I remember that phone! If it were HTC windows, I use to work at Tmobile and sold that a lot. I’m shocked at how expensive phones are now a days. The most expensive phone ive ever purchaed was the iPhone X and im keeping this forever!!!

Cody H Some towns in my state, 16 year old kids get a Mercedes G-Wagon as their first car.

truth!

LOL!!

Poetry!

I'm afraid that it's too late. Have you read some of the comments here on Dave's channel?

😂

Yep the walmart replacement plans are awesome!

Do you need the receipt for that? I have one for my controller but lost the receipt.

@@dfarias873 If you registered it the receipt when you bought it you can look it up on asurion website.

Lolz even on the car I own dosent have extended warranty and its a toyota

Bought an extended warranty on my 07 Honda. Before the warranty period expired, I had a window motor and the power steering rack replaced on the car. I paid $500 for the warranty, and had $1400 of repairs done on the vehicle. I came out ahead. But I generally do not get extended warranties

@@insideoutsideupsidedown2218 yes, in some cases extended warranties are good. But most of the time they're bad.

@@insideoutsideupsidedown2218 I'm shocked they didn't loophole their way out of those repairs.

I miss those days. I always took the free phone, never felt any need to upgrade. I hate paying for phones now. I try to use them as long as I can before replacing.

Yup I worked at tmobile and when you signed a two year contract we gave away free Blackberrys and Galaxys back then. So easy

Years ago I was buying some type of electronic device at Circuit City (if I remember correctly) and the cashier was trying to get me to purchase an extended warranty because it would cover any potential problem that might possibly occur. I just looked at her and said "But that wouldn't be sporting!" She just looked confused and rang my order up without saying anything more.

Big Foot I think this was pre smart phone.

The emergency phone is the perfect extended warranty

This is the reason I don't buy apple.

OtterBoxes are awesome! I've had one on my phone since I got it, I've dropped and slammed this thing around so much it's not even funny. Going on three years now, and no problems. The other day I even purposely whipped it down at the concrete to demonstrate to my girlfriend how good the OtterBox is, LOL.

Lifeprood by otterbox is great too with lifetime warranty I'm already on my 4th case under warranty in 4 years that I've had my phone

OtterBoxes are amazing. Every iPhone I issue to my work crews are encased in an OtterBox. The phones have been dropped 10-15 feet through attic openings, dropped onto concrete, smacked against hard surfaces, etc. The only time I see one come back is when the battery starts having charging issues or it won’t update the iOS anymore - never a cracked screen or a damaged housing.

Definitely good advice for drop protection, but what about loss or theft? I'm an old guy that stays home, but young people run around so much their risk of losing a phone is very high.

Here's why you don't need the warranty. Nine times out of ten if there is an issue with the car even out of warranty like a recall it has to be fixed for free. So unless the car dealer or company wants to be sued. Don't buy the longer warranty.

I think one has to be brain damaged not to take advantage of the extended warranty that credit cards offer on a 1000$ phone

Bingo. One of the many reasons to use credit cards.

Yes. And you would be surprised how much they come to your aid.

on what

Antonio electronica is huge. Usually one year warranty but the good credit cards add another year to it

The real problem is people want fancy, not well built appliances. I have had less issues with basic stuff than complicated.

Credit cards are bad

@@michaelpetrus4912 Like whiskey to an alcoholic for the financially stupid

Apple will not cover accidental damages on iPhones. If you dropped it, you’re paying for it regardless. You’ll either pay the In Warranty price or Out of Warranty price.

Justin Zetzer I bet more than half of the people with Apple Care have no clue what it covers.

@@blackworldtraveler3711 You're probably not wrong haha I even bought AppleCare+ for my AirPods Pro. Right near the end before it expires, I'm going to use that to trade them in for a replacement [air with a brand new battery, since AirPods are horrible for long-term use because of the small, not-so-long lasting batteries they have. You can SOMETIMES make warranties work for you, but generally the companies are still profiting or not really taking much of a loss. It's like car insurance, it's Russian roulette. Some people are good drivers who won't ever use it, but some will need it. I agree with Dave for the most part. Most of my purchases do not get the extended warranties.

Here is the problem. He is talking about phones here not cars. Also nine times out of ten if there is an issue with the phone it's on Samsung, Apple, Google, etc. That means they have to replace it any ways.

1700 versus value of car is not as ridiculous as 200 for warranty versus a 1,000 USD phone. That is 20 %. The extended warranty seems to have been an marketing offer, is is not much - is for 1 or 2 years ?

You have to think about all the times you have paid for the extended warranty month after month for years and then when your phone do break you still have to pay another $100 on top of one or two already been paying for years. That is what Dave is saying. I agree with Dave Ramsey I don't know about extended warranties on. (Example: Had phone for 4yrs and extended warranty is $12 month. 12 x 12 = $144. Then take 144 x 4yrs = $576 plus $100 wen phone actually breaks = $676.... Now who do think is winning 🤔

@@BiggSneaddd This was $40 for the entire 3 year warranty. Much cheaper and I tend to be clumsy and drop stuff all the time.

That's worth considering.. but $200 on a $1000 phone is a bit much. Same with cars that cost $30k and the extended warranty is $2-3k.. crazy. Oh and try to use that extended warranty and they will do everything possible to deny the claim.

@@ChrisMFlorida How about $500 on a $100K home( the garbage disposal, Builtin Microwave, Gas range) replaced on move in.

Let this be a lesson. Also, $20/month for three years is $720 + the $200 for the charging port, you could have bought a brand new phone with money left over today

Yea but remember also covers theft and loss. I bought a phone and within a year charge port messed up and paid the deductible and 6 months later screen cracked from a fall.. so far ive saved a good amount of money. Imagine i didnt have a warranty i would be on a 3rd phone paying out of pocket for each one.

A Charging Port, it wireless charges

You payed full price AND had a 2 year contract? Also your 1200 phone is likely the equivalent of a $400 phone now so....

Good chance it is bad caps on the control board. You can recap one for less than $10

Sometimes you 'win' with a warranty, just like some people win at slots, I would not base my finances on it.