TVs & Home Theaters

General discussion

Extended Warranties a scam?

by rkruz / May 3, 2007 3:58 AM PDT

I have only been able to find one review of a Warrentech extended warranty on Amazon.com.

They went through 6 months of ordeal trying to get an Ipod replaced with no success and in the end they thought the EW was a scam.

Any experience using these EWs, Repairtech, Repairmaster, Warrentech etc?
Im considing one for a TV I have already purchased and would want a 5 yr EW in the <$5000 category and need buy buy within the 1st 9 months of ownership.
Any thoughts?

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Call them.
by R. Proffitt Forum moderator / May 3, 2007 4:14 AM PDT

If they have no phone number then it's a scam.

Bob

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WHAT IS WRONG WITH THE FACTORY WARRENTY?
by stewart norrie / May 3, 2007 5:02 AM PDT

Before I bought my new 72" monster I first checked out the phone book and called all the factory repair centers in my area to make sure they would honor the factory warrenty on my make and model. Lets face it you get a year factory warrenty but its useless unless it can be serviced locally other wise plan to spend a ton of money sending shipping that monster god who knows where also if that set works fine the first year extended warrentys are a waste of money stewee

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nothing wrong with factory warranty
by rkruz / May 3, 2007 10:06 AM PDT

I want to cover the tv an additional 4 years past when the factory warranty is over. Thats why its called an extended warranty. I want to get the lamp warranty also for 2 years past the TV warranty. Sounds like some has had good experience with Warrentech so Ill look mmore closely at that one.

Is the warranty TV plan based on the cost that which you paid or the MSRP?
thanks

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.
by jonnybones / May 3, 2007 10:16 AM PDT

My dear stewee, "If my TV doesnt break in the first year its not going to" is a very foolish philoposhy. I can't even stress how many people call with broken items that are past the manufacturers warranty. They first call the manufacturer and after they find out it is not covered anymore, they call us, i guess in hopes that we magically offer a longer, free, in store warranty. After i find out that they did not purchase the EW i have to tell them nicely that they are SOL.

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.
by jonnybones / May 3, 2007 9:57 AM PDT

The factory warranties are good if it is a problem they cover. The most common ones are not covered though. Take tvs for example: most manufacturers offer 12 mo parts and labor. Well thats cool if you get enough dead pixels for it to actually be covered (sony says 5 or more in one square inch). Then your only inconvenience is not having a tv while they replace it. The big questions are; what if something happens that is not covered by the manufacturer? and what happens after your 1 year? EW's for tvs usually cover any dead pixels anywhere (the most common problem), or any burn in (not covered by manufacturers at all). Plus they have free in home service(not offered by manufacturers), and last longer than a year(not offered).

It IS a bit of an investment, but you are totally covered for however long the EW runs. Now, with that said, i know that i might be a bit biased because i sell them for a living, but i buy them on pretty much anything over $100.

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EXTENDED WARRANTIES FOR LESS.....AVOID HIGH PRICE SCAMS
by Privacy-Rights-Army.com / February 10, 2008 1:19 AM PST
In reply to: .

Interesting,

Like all extended warranties, you have to give a lot of thought on whether it is going to be a good investment or not for your particular situation.

Most people succumb to the sales pressure at the point of sale, and this is the biggest mistake you can make, no matter which type of extended warranty service contract you are considering.

The best advice is JUST SAY NO, and then, in your spare time, search the internet for all the extended warranties and do your due dilligence, check coverage, prices, length of terms which fit your specific useage patterns.

Most people never use the average consumer product extended warranties, so it is less likely a good investment for most, so don't jump until you do your research. You can usually purchase these consumer electronics extended warranties as long a factory warranty is still in place, so don't rush.

When it comes to extended auto warranties, this too is now available after your purchase, so do your research. Traditionally, the only place you could purchase an extended auto warranty was at the new or used car dealers and way over inflated prices. What most people don't know is auto dealers often times make more profit selling extended warranties than they do selling cars.

The point is, don't fall for the buy it now extended warranties. Wait, do your research and you will always end up with the better coverage at the best prices if you research industry after you get home and are able to think it over, and decide whether you even need one to begin with. Avoid high pressure sales pitches at all cost.

Good luck to all,
www.NanoDetonator.mywfl.com

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It is insurance
by HTHMAN / February 10, 2008 12:36 PM PST

The extended warranty companies are in the business of making money. The only way they make money is to sell extended coverage for more than they will pay out in repairs. The smart bet is to not buy the coverage and put the extra money in the bank in case you need a repair. If you did this with every product you buy, you will come out ahead in the long run. If you just can not take the risk, buy the insurance of the extended warranty.

Keep in mind that a lot of extended warranty companies have and will go out of business and stick a lot of people with a worthless piece of paper. If you buy one, buy it from the manufacturer or from a company that stands behind the warranty like BestBuy, Sears, etc.

Conventional wisdom is to not buy it on Plasma and LCD panels because of low repair rates, but to consider it on DLP because of the high repair rates. Do not pay more than 15% of the purchase price for the extended warranty.

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I am totally with HTHMAN on this
by jostenmeat / February 10, 2008 2:18 PM PST
In reply to: It is insurance

The only extended warranty I have ever bought in my life was not even for myself, but for my electronics-abusing brother.

I know of a doctor, who is a very knowledgable (and spend-happy) audiophile who used to work for BB. He says straight up that they were pushed to sell these warranties because they were pure cash-cows.

OTOH, I remember some, like Dan perhaps, that received affordable and flexible warranties thru Sony. I know that Panasonic was asking an arm an a leg for my tv. 1/3 of the cost in fact, which I find completely ridiculous.

15% seems reasonable. Maybe. Remember guys, these stores are going to make you use the manufacturer's warranty anyways, for however long that lasts. So, if you buy a 3 yr warranty on a unit that already is covered for 2-yrs, you are really only getting a 1 yr warranty.

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More info
by HTHMAN / February 15, 2008 12:33 AM PST

Just got my latest Consumer Reports today. They say that the repair rate on Plasma and LCD flat panels from 2004 to 2007 is about 3% and recommend that you skip the extended coverage on these types of sets. Repair costs for LCD and Plasma ran from $120 to $540. That means that the extended warranty provider only paid out an average maximum of about $15 per policy and the rest was profit. You have a 97% chance that your set WILL NOT break.

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they are used by
by gabereyes / February 10, 2008 1:07 PM PST

ultimate electronic uses them, and every local repair shop in my area does work for them.

I used them once on a old CRT projection TV, they fixed it within a week, it needed all new CRT guns.

good luck
gabe

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I KNOW SONY HAS A UNIQUE WAY OF SELLING EX-Ws FOR BRAVIAS..
by Riverledge / February 15, 2008 5:49 AM PST

HOPEFULLY SOMEONE WITH MORE KNOWLEDGE CAN CHIME IN WITH THE DETAILED
INFORMATION. OR GO TO http://www.sonystyle.com

River.

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