Main Menu

Are "Protection Plans" worth it?

Started by Cuda Cody, August 15, 2017, 10:02:03 AM

Previous topic Next topic

0 Members and 2 Guests are viewing this topic.

Do you add the Protection Plan when you buy something?

Yes, always add it
0 (0%)
No, never pay for it
15 (57.7%)
Sometimes, just depends on the item
11 (42.3%)

Total Members Voted: 26

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.  :haha:   

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?  :dunno:

Roadman



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.
Growing older is mandatory...growing up is optional.

Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind.

'70 Barracuda B5/B5 225 /6 3spd ... about as bare bones as they came

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
Growing older is mandatory...growing up is optional.

Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind.

'70 Barracuda B5/B5 225 /6 3spd ... about as bare bones as they came

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.  :alan2cents:


Katfish

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

RUNCHARGER

Sheldon

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-

#10
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-
.                                               [glow=black,42,300]Doin It Southern Syle[/glow]       


dodj

Quote from: Katfish on August 15, 2017, 03:42:53 PM
Most people don't realize your credit card doubles any warantee up to 1 extra year automatically.
:iagree:
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.
"There is nothing your government can give you that it hasn't already taken from you in the first place" -Winston Churchill

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

Quote from: ViperMan on August 16, 2017, 12:49:26 PM
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.  :yes:

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.   :haha: