are extended warranties on appliances worth it
Small appliances like microwaves and electronics are seldom worth the price of the warranty. Reasons For Buying Appliance Extended Warranties According to United Servicers, appliances now last 6 to 9 years down from 8 to 12 in 1986. On the positive side, appliances are way more efficient than even 10 years ago. The redemption rate on a free 10-year component warranty is almost 0. Small appliances like microwaves and electronics are seldom worth the price of the warranty. Reasons For Buying Appliance Extended Warranties According to United Servicers, appliances now last 6 to 9 years down from 8 to 12 in 1986. We do not push warranties. It's up to you. This article will help you decide when you should consider a warranty, when it's not necessary and when you should run from the offer. Service is the largest single department at Yale with 21 techs, 8 people customer service reps, 3 people in parts, 2 managers and 1 director. Appliance sales clerks will try to sell you an extended warranty on almost anything you buy, from toaster ovens to refrigerators. Appliance sellers make as much as 50 percent profit on extended warranty purchases, so it makes sense that they advertise extended warranties as the best protection for your investment. 1 How much the appliance will be worth once the standard warranty period ends. 2  If the extended warranty would cost a significant portion of the appliance's replacement cost once it's out of the standard warranty, the extended warranty probably isn't worth it. Chances are you have either purchased an extended warranty or service plan in the past or have been tempted by a savvy salesperson to pull the trigger on one. They are available for just about anything we buy these days – from a new flat-screen TV, to laptops, smartphones, appliances and the list goes on. ABC is having an expose on extended warranties, so I thought this may be a relevant topic to update. We do not push warranties. It's up to you. This article will help you decide when you should consider a warranty, when it's not necessary and when you should run from the offer. You might be tempted to buy a service plan--also known as extended warranty--on your next laptop, dishwasher, or a new or used car. But chances are that what you spend will be money down the drain. Retailers may push hard to get you to buy these plans because they're cash cows for them. If a warranty is more than 20 percent of the product's price, it may be too much. According to the SCIC, most extended warranties are 10 to 20 percent of the sales price. If paying $100 or so for an extended warranty for your new electronic gadget will help you sleep at night and avoid nightmares of a smartphone emergency or laptop catastrophe, then it's probably money well spent.
Probably is not worth