About
Advertisements
There exists an industry which is focused on profiting from the extended warranty opportunities that exist on everything from vehicles to washers and dryers. In many large retailers when you make a purchase you will be offered an extended warranty plan that covers you for normal repairs beyond the initial warranty period set by the manufacturer. On first glance, this is a good thing because some manufacturers have cut back the warranty coverage in order to cut costs.
However, there are some things you need know in order to help you determine whether nor not an extended warranty is right for you or not. Use these steps to help make the right decision:
Check the original manufacturer’s warranty period. Before you sign up for any extended warranty period, check the manufacturer’s warranty first. Find out what the duration of that warranty will be.
Check the coverage. Now, look at the specific coverage of the original warranty to see what is covered and how coverage is activated if it is needed. Be sure to pay attention to things like onsite coverage, shipping charges, and replacements for defective items. Shipping charges most times are not included in a warranty period unless specifically denoted.
Sometimes a manufacturer will choose to replace an item instead of repair it. If this is the case, be sure to get the new serial number and make sure it is registered with the same duration of the product that you purchased. Also, make sure that you are not given a used piece of equipment that looks like it has been abused.
Products called ‘b stock’ (those that have been returned previously) are used for warranty exchange programs, but they must be in pristine condition. It might not be a bad idea for you to take several digital photos of your item before you return it in order to verify the condition that it was in before you shipped it away for service.
Compare the extended warranty period. Now compare the extended warranty time period that is being offered. Usually it extends your warranty an additional year or two based upon cost.
Check what is covered. Find out what is covered and how coverage is activated if it is needed. Also, find out who you have to contact. Keep in mind that some manufacturers will offer an extended warranty as well. These are good to consider, too, because dealing with the manufacturer as the warrantor means that they know the most about your product and will probably be the best in turn around if it needs to be repaired.
Check the price. There might not be a way to compare prices, but the advice here is to make sure that the extended warranty cost does not exceed the value of the item being covered. Do not waste your money if that is the case. Some items like printers for your computer are now considered ‘throw-aways’ because they are so inexpensive as an initial purchase. Also, compare this to the cost of an extended warranty from the manufacturer. Most times the third party warranties will be less expensive, but that is not a hard and fast rule.
Make the choice. Once you have enough information, make your choice. If you are able, be sure to pay cash for your extended warranty instead of putting the amount on your financing if that is offered as an option.
Related Content:
- How to Compare Hybrid Cars It is hard to find a comparative ranking for hybrid cars, so how do you compare hybrid cars if you have trouble getting the information that you need? Luckily there are not that many types...
- Comparing Life Insurance Policies pt 2 Continued from part one. What are the advantages of this type of insurance? Term life insurance policies tend to be a lot less expensive in comparison to other types of insurances, including whole life insurance,...
- Why should you/we/us blog? As periodicals, companies, corporations, and individuals turn more and more to the internet it’s imperative that you do as well. Simply put blogging changes how people find and interact with information....
- Take Advantage Of Manufacturer's Warranties, But Don't Buy Extended Warranties If the product you buy has a warranty, take advantage of it! In the past year I have had several products that I purchased fail, have problems or otherwise meet their early demise. Here are...
- A guide for those without insurance. Over at Money Central, they have a pretty good article up for those who are uninsured: A survival guide for the uninsured - MSN Money. Here are their tips for looking for alternative insurance: Some...
1 users resposed " How to Make Sure You Do Not Get Ripped Off on Extended Warranties "
May 5 2009
Hi, interesting post. I have been pondering this issue,so thanks for writing. I’ll certainly be subscribing to your blog. Keep up great writing
Our Sponsors
Archives
Site Information
Resources
Savings Accounts
Compare a variety of savings accounts, including ISAs, online with Moneysupermarket.com
Peer to Peer Lending
Learn about Prosper.com and Lending Club at American Consumer News
Lending Club Scam
Read our write-up on Lending Club to learn if it's a scam or the real thing.
Audible Review
Learn about Audible's Audio-Book Service at American Consumer News
Provident Cash Loans
Provident provide quick unsecured loans for people with bad credit history.
Bad credit loans - Real Finance
Real Personal Finance specialize in unsecured loans for people with bad credit history
IVA
products could write off the debt you can't afford. Get IVA advice from a leading debt solutions group.
For rising debt problems, consider an IVA with Debt Free Direct.
Instant decision loans
Use our experts to find loan deals tailored to suit your circumstances.
Debt Free
Debt Free will help you get out of debt quickly.
most commented post
- » Wells Fargo, US Bank, Bank of America and Citibank are on the Brink of Bankruptcy - 27
- » MagicJack – Scam or Real Thing? - 19
- » What Happened to Prosper.com? - 12
- » Three of the Unhealthiest Restaurants in the US and How to Eat Healthy at Them. - 7
- » 3 Reasons Debt Consolidation Loans May Not Be The Best Option For Debt Relief - 7
- » The Danger of Reverse Mortgages - 7
- » Hyped-Up Cures or Cash Thievery? - 7
- » How To Save Money On Prescription Drugs - 7
- » Dave Ramsey Speaks Out on the Economy - 6
- » Deciding How Much Life Insurance Your Family Needs - 5
recent entries
- Tips to Repair Bad Credit
- Free or Low Cost Family Fun Activities
- How to Sell Your Home ASAP
- Tips to Start Living a Frugal Lifestyle
- Factors That Affect Home Values
- Social Media Networking Can Be Costly
- Tips for Breaking Your Spending Habit
- Reducing Your Grocery and Utility Bill
- Renters Need Insurance Too
- Gift Returns Leave Consumers at Disadvantage
recent comments
- Credit Trauma: You don’t ever have to pay for credit repair when you can do it yourself at no cost and usually...
- Andrey: головоломки
- Vladimir: аквариумы
- Vladimir: buy cheap tramadol online 50mg x 180 Tablets $99
- goyko henry: Sir,i need to have the king james version kjv, for my Wedding coming up this month end.sir 2 hard copies...


Recent Comments