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.
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