Extended warranties or not

posted in: Household Maintainance | 0
Is there any advantage of buying extended warranties? Very minimal. As an example

S. N. Ray

As an example a writer, Elisabeth Leamy, a podcaster of “Easy Money” has done a study on maintenance¬† of dishwasher to make the point.¬† She summarizes her findings as follows wing for a dishwasher:

  • Problems with extended warrantis
  • Not actually extended
  • Lots of exclusions
  • Deductibles and fees
  • May have to mail the product (depending…)
  • No servicer selection
  • Shop must get permission
  • Third party companies
  • What to do instead
  • Research good products
  • Credit card protection
  • Contact the manufacturer
  • Implied warranties
  • Create a repairer-or-replace savings account

and that way come out breakeven at least.

The author and several others he knows conclude the same thing.

Reference

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