Are "Protection Plans" worth it?

[Cuda Cody]

What do you think of Protection Plans when you buy something?  Do you add it on or think it's a waste of money?  Or does it depend on the item?

As cheap as it sounds, I had to pass on the 99 cent protection plan for my popcorn.     

[Brads70]

I read an article years ago that said it was a waste of money except for big screen TV's and front load washers and dryers? 

[Roadman]

           Never     

[ec_co]

depends on the item (initial cost, replacement cost, technical innovation <eg: will it be obsolete in a couple years anyways>), but 99% of the time, no.

[ViperMan]

You're going to burn that popcorn and be all like


Totally depends on item though, for sure...

My sister bought an Audi A4 Cabriolet a few years ago - asked me my opinion on Audi's, and I said, "Whatever you do, get the extended warranty..."

She did, and of the 6 months she owned it, it was in the shop for 2 after the transmission sh!t the bed.

However, when I just bought my '09 Grand Cherokee, and they asked if I wanted the extended warranty, I felt pretty confident that I wouldn't need it. 

[ec_co]

I did the same when I bought my RX8 a couple years ago .... knew the engine issues ahead of time, so bought the extended ... got me 2 rebuilt engines over 3 years .... I'm not the kind of customer they wanted

[CudaMoparRay]

99% of the time NO NO NO is IMO the most correct relative gamble.
Usually, electronics of most kinds will fail within the normal warranty periods or last a life time.
Anyone want to buy a laser disk, cassette, beta, vcr, old tv, old computer,etc lol lol
The reason has been better manufacturing and quality controls on average with a few exceptions.
As for cars just for the known "Lemons" otherwise not. 

[Katfish]

Most people don't realize your credit card doubles any warantee up to 1 extra year automatically.

[RUNCHARGER]

I never buy those plans.

[Chryco Psycho]

I don't buy them & I won't buy an Audi or BMW ever but they do need them everytime
Odd story I bought a good camera years back & for not much extra & got a 5 year warranty , the camera did fail 6 years in so all of the warranty was done on it , But I sent it to Canon to see if it could be repaired & asked for an estimate before fixing it as I would apply the $$ to a newer Camera if it was a lot of $$ to fix & a couple of weeks later there was a pkg to pick up & it was my camera repaired for free & shipped back for free too , awesome service , they did not know about the extra 5 year plan & it was a waste to buy it as Canon fixed it anyway ... Thanks Canon !!

[Bullitt-]

All in All I'd say Heck No.. I've bought very few & hardly had any benefit..
That being said in our industry, major appliances, some items repair/replacement costs are quite high.. I wouldn't recommend the manufacturers overpriced warranties but we do have 2nd-5th year warranties for as low as 1/10 the replacement cost through an Independent warranty company.
From what I've observed you would need to check with an independent dealer to get the better/lower priced extended warranties.  Statistically we are told that over 50% of new appliance owners buy an extended warranty.. Our rate is more like 15% as we're low pressure on the issue.
  You have to remember the odds are always in the favor of the warranty company..

@Bullitt-

[dodj]

Most people don't realize your credit card doubles any warantee up to 1 extra year automatically.

I NEVER buy extended plans. There is a reason they push them hard. They are a money maker for them.
If i bought a ferrari, i probably would.  But i don't think a Ferrari is in my future.

[ViperMan]

I think though we're all missing the much-bigger question here, and that is:

Why did @Cuda Cody buy popcorn off of eBay...?

[CudaMoparRay]

I think though we're all missing the much-bigger question here, and that is:

Why did @Cuda Cody buy popcorn off of eBay...?

You might be on to something! This thread could be derailed with just that answer. 

[Daveh]

He makes it before he heads out on date night to a movie.  That way he doesn't have to take a loan out for the huge bucket at the movies.