Extended warranties for appliances?

[travelbug]

I'm not usually one to buy extended warranties on electronics, appliances, etc. But today I'm actually considering it. I'm on my way in a little while to buy the washer & dryer I picked out after a lot of shopping around, reading reviews, etc. It seems like washers & dryers aren't made like they used to be, so I'm wondering if I should make an exception to my usual practice and buy extended warranties for both of them.

Any thoughts?

 

[starry_solo]

I'm not usually one to buy extended warranties on electronics, appliances, etc. But today I'm actually considering it. I'm on my way in a little while to buy the washer & dryer I picked out after a lot of shopping around, reading reviews, etc. It seems like washers & dryers aren't made like they used to be, so I'm wondering if I should make an exception to my usual practice and buy extended warranties for both of them.

Any thoughts?

Don't know if it's worth it. Depends on the price you pay for the extended warranties. If a washer/dryer lasts for 5-10 years (and they usually come with a 1 year manufacturer's warranty), add up the price for the extended warranty to see if you'll come out ahead.

 

[kaytieeldr]

Consumer Reports says no.

 

[seashoreCM]

You might luck out and find that the extended warranty saves you a big repair bill.

But on average, extended warrantees are a big profit item for stores ergo they are not a good bargain for the consumer in general.

 

[wgqual]

I usually do not buy extended warranty's but made an exception on our fridge and washer & dryer. Just 2 weeks ago the fridge(1yr old) started making a strange noise. I called the store and they sent out a repairman. The warranty saved me $700( well $500 if you subtract the $200 warranty cost).

Look at Square Trade. They get excellent reviews and are usually cheaper than the stores warranty. I didn't find out about them till after i purchased my warranty from the store

Just like pp said they are not made like they use to be!!

 

[seashoreCM]

I usually do not buy extended warranty's but made an exception on our fridge and washer & dryer. Just 2 weeks ago the fridge(1yr old) started making a strange noise. I called the store and they sent out a repairman. The warranty saved me $700( well $500 if you subtract the $200 warranty cost).

$200. warranty covers all three -- washer, dryer, refrigerator?

 

[MickeyManiac]

I have started buying warranties on large appliances and have had to use them a few times.

When the bearings went out on my 5 year old Maytag washer last year the repair was almost $800. The store decided it wasn't worth it and gave me the original purchase price amount toward a new washer. I did choose an upgrade but didn't have to. I could have walked out without spending a dime. (except for a new $120 warranty )

 

[heartsy77]

My Kenmore washer and dryer HE2 breaks every 5 sec and the warranty has paid for itself 5x over!

 

[travelbug]

Thanks for the replies, everyone. I didn't buy the extended warranty when I bought the washer & dryer yesterday, but I can buy it any time in the next 11 months if I want to. So I'm still thinking about it.

I've never heard of Square Trade that someone mentioned. Will have to look into it...

Thanks again!

 

[valee]

I've never taken the extended warranty offered, and have luckily never had a major repair.
I've got a friend that always asks what the warranty would cost, and puts that amount into a separate bank account. The cost of any repairs comes out of that account. However, he's started spending any money in the account when it's over $800 - he's told me that he's used it for theme park tickets for years.

 

[travelbug]

I've never taken the extended warranty offered, and have luckily never had a major repair.
I've got a friend that always asks what the warranty would cost, and puts that amount into a separate bank account. The cost of any repairs comes out of that account. However, he's started spending any money in the account when it's over $800 - he's told me that he's used it for theme park tickets for years.

That's kind of a cool idea.

 

[North of Mouse]

Our appliances seem to last as long these days as they did when we first started our married lives. We never get the extended warranty, because usually if something bad goes wrong it is already covered in the original warranty time (if it's a lemon, or something). I always tell the salesman (when they try to push their extended warranties) that if I thought their products were not going to last any better than that, I would definitely buy another brand. That usually shuts them up We've never had any problems with our appliances (except old age LOL).

 

[Tiger926]

We always get the extra extended warranties for our appliances, despite having it on our Gold VISA card.

We have had to make several service calls just to check on something and it more than pays for the extended warranty in and of itself. Sears charges $75.00 just to walk in the door.

Minor repairs on HE washers or HE dishwashers are very expensive. eg. Our dishwasher cost $1000.00, so it is worth it to protect it. We buy all of our appliances through Sears, so for approx. $250/year on our: dishwasher, fridge, HE washer and over the range microwave, we get all service calls, labour, parts, and yearly maintenance checks and cleanings. Baby boy broke the crisper drawer which is $150 to replace, and during our regular yearly inspection last week, they replaced it for free. We have more expensive appliances, and so paying $20.00 a month is ok by us.

We have had great luck with Seas, and are getting ready to buy a new stove, and will do the same as well for it.

Today's appliances are not made like they they used to be. Like I said, we buy higher end models, and keep our stuff in pristine condition, but due to cheaper parts, things break or need extra servicing, so Sears maintenance plans are great.

Good luck, Tiger