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That is just the way it's done

3

37chief

Well-known Member
Location
California
I am purchasing a new micro wave oven. The 5 year warranty is 60.00. which isn't too bad I thought. I said to the sales person,with the manufacture one year warranty I have 6 years. The person said no. You mean I have double warranty for the first year. leaving me with only four years? I am told, That's the way's done now. Sounds to me the public is being cheated. What do you think about a extended warranty? I have one on my refrig, and have saved a bundle on it so far, but a $200.00 micro wave? Sears, and Home Depot have the same practice Stan
 
We have extended warranty on our big appliances but $60 is 30% of the purchase cost and most microwaves seem to last quite awhile,seems pretty over priced to me.
 
Extended warranties are very profitable for the stores, which is why they all push them.

I figure if it lasts the first year it will probably last four more years. The ones I really shake my head at are the "prorated" warranties that they sell with things like tires. After a couple of years the warranty hardly pays anything.
 
I never ever buy extended warranties.
In my experiences, if you pay by charge card (MasterCard in my case), your warranty is doubled.

I had this happen to a large computer monitor; it died after 1 year and 11 months.
Original warranty was for 1 year; I was covered for 2 years because I paid with the charge card.

I was surprised at how hassle free it was with filing my claim.
Just had to buy a new one and submit the receipt; they even reimbursed the GST (Canada).
 
The wife has an Amana that we purchased in 1986, she uses it every day and it is still going. She had to replace the glass platter on the bottom but that was it.
 
(quoted from post at 18:09:46 11/22/16) I am purchasing a new micro wave oven. The 5 year warranty is 60.00. which isn't too bad I thought. I said to the sales person,with the manufacture one year warranty I have 6 years. The person said no. You mean I have double warranty for the first year. leaving me with only four years? I am told, That's the way's done now. Sounds to me the public is being cheated. What do you think about a extended warranty? I have one on my refrig, and have saved a bundle on it so far, but a $200.00 micro wave? Sears, and Home Depot have the same practice Stan
Click to expand...

The dealer wanted to sell me an extended warranty on the truck I just bought...only $4500, but I could make payments. I declined. He insisted he has not sold a truck without this warranty...I said write my name down cause I am the first LOL! Then he tries to sell me a cheaper version with a higher deductible....I told him if I had problems in the first 3 years it was getting sold....and I would still be ahead. Extended warranties are a waste of money in most cases...just a way for sellers to make additional money up front. If that microwave makes it a year chances are it will make it three...and then you have your money out of it anyway. I have never taken out an extended warranty and have done fine.
 
I don't buy into those warranties much, but most of the time even though the factory warranty is good for 1st year or so, the extended warranty can still help. Most of the extended warranties are handled "in house" meaning you wouldn't have to send the broken item back to the manufacturer or whatever you would be required to do. I have seen a lot of extended warranties do exchanges for same or like model inside the store if something happened.
 
I see a lot of warranty offers on eBay from a company called SquareTrade. My favorite was a 3 year warranty on glue for $8.49.
Zach
 
Any money spent on extended warranties on appliances is cash in that sales person's pocket. One told me that years ago.
 
The reason why the warranty coverage time overlaps is because they do not intend on selling you a warranty which will still be valid when the machine breaks down, there's not much profit in fixing or replacing the merchandise. Companies know the average life of the products they manufactur and they time the warranties accordingly. The way I always look at that is how long did the last unit I bought hold up? If I can't remember the last time I bought something, microwave, washing machine, TV etc. then I figure I don't need the warranty.
 
Each time you're offered an extended warranty, say "no thanks", and put that much money in a "repair kitty". If something that was supposed to be covered under the extended warranty, use the money to pay for the repair or replacement.

You will find that "repair kitty" grows much faster than your repair bills!

As someone said, those extended warranties are really good money for the company, that's why they push them.

Whenever a clerk asks if I want an extended warranty, I just reply that if I really need the extended warranty, the product must be pretty unreliable!
 
Extended warranties are the profit for the appliance. Ex SIL sold appliances for a national chain.
 
We bought a nice microwave and stove top and got the five year extended warranty. The microwave went out while under warranty, had it repaired; a few days later it quit again. The repairman came out again and fixed it. For what he charges and the parts, the warranty has already paid for itself. It would have been cheaper for them to give us a new microwave. It maybe an exception as everything seems to go bad after the warranty has expired. We generally research the product before we buy it and longevity is always a criteria.
 
I'm with you. I tell them the same thing. "If it's so unreliable I need extended warranty, then maybe I shouldn't buy it."
Same with road hazard on tires. How many sets of tires have you bought and how many times have you collected on the road hazard. Often it's sold as free tire repair, but really you are paying for the tire repairs whether you use it or not.
Most workmanship and material failures will occur while under the initial warranty. If you have the ability to do your own repairs, you're ahead of the game. If you need a service repairman on a major appliance, invest the repair cost in a new replacement instead.
With extended warrants you're paying for repairs you may never need.
 
You know the warranty period is the length of time they expect the microwave to not have any problems. They have overwhelming odds of not paying out on the warranty so it amounts to free money.
 
Took the old Whirlpool? microwave down to the shop several years ago when someone gave us a new one.
The old one we bought in 1981 still works. Think I am going to toss it as I don't really use it anymore.
Richard
 
I would never buy an extended warranty on a small appliance. The hassle of getting a repairmen to your home, getting it fixed, and hoping that the repair will last all add up to more than the warranty is worth. For a microwave, I would simply use it for as long as it worked and replace it when it stops working.
Over at HF, they wanted me to buy an extended warranty on a $20 reciprocating saw. I looked at the cashier and laughed! Then I asked how much? It was almost as much as the saw. I passed.

Most extended warranties are nothing more than insurance policies. Most are also based on risk assessment. Don't even think that the folks selling them have not done their homework.
 
I have been getting calls daily trying to sell me an extended warranty on my 7 year old truck for a few weeks now. Repeated request to be taken off their call list have done no good. So I received what was hopefully the last call two days ago.

I waited on the list either for a live operator who started asking for info on my vehicle. Told them I had a 86 Vetted. When they ask the mileage I told then 195,000. The operator proceeded to inform me that the cutoff was 175,000 miles but since I had a Corvette they could make an exception. When I corrected him and told him it was a Chevette, not a Corvette, he hung up.

Not got a call since Friday.
 
I love it when the sales person asks me if I want the extended warranty.

I promptly respond with "Are you saying that you are selling me a piece of crap that won't last?"

Simple logic.
 
You know what single item Wal Mart and Sam's makes the most money on??? It's Gift Cards, since a large percentage of them are never redeemed and they DO have an expiration date!! Pure profit!!! Cmore
 
The GM Chevette ...... great cars and they took a lot of verbal abuse from those who never owned one. My dad had three of them and drove
them all into the ground, high mileage and little maintenance or repair along the way. He loved those cars, bragged about them all the time
and laughed at those who laughed at him and his beloved little cars.
 
We don't buy the extended warranties. When the factory warranty on our microwave was about to run out they called us practically every day trying to get us to extend it. But when it actually did have a recall on it we never heard boo from them. I had to read about it in the paper. I let them know about that too!
 
I bought a LG TV from Sears and it came with a 3 year manufacture warranty and Sears want to sell 4 year extended warranty that started when manufactures warranty ran out.Also bought Panasonic micro wave from Wall mart and their extended warranty started after manufacturers run out.
 
My opinion, to which I may still be allowed under the 1st Amendment:

In today's manufacturing world, things work when you get them and last and last. Buying an extended warranty is a waste of money, unlike years ago when it was "buyer beware". I often ask checkout folks if they are getting paid to attempt in selling me an extended warranty, especially on a $50 item.....response is a blank stare....you know they are told to ask.

Next thing is collecting on the thing if you should need it. First of all what did you do with the receipt.........second is what is there in the small print that you missed....third is do you remember where you bought it and is the mfgr. still in business.

Here's the kicker. My current microwave is a Panasonic with "The Genius Sensor" and 1250W of power. My previous MW is the same identical unit upon which my current one sits.....The reason for the replacement was that the rotated glass tray in the former broke after about some 10 years of service. Replacement price was $50 + tax + shipping. The new unit cost me $149 at ww and is now getting close to 10 years itself. Otherwise both work perfectly.

Not worth it to me.
 

Bought a new Toyota truck, they wanted to sell me an extended warranty. I told them Toyotas weren't supposed to need warranties, which was the case on the only other new Toyota I bought.

KEH
 
You can thank numbnuts in the whitehouse for allowing businesses to cheat consumers and price gouging on stuff like that.
 
I never take the bait when those things are offered. It's a waste of money and they rip you off as you describe. How much did the new microwave cost? That $60 is probably about half price of it unless you bought a big fancy one.
 
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