E-Bodies.org Cuda Challenger Forum

Off-Topic => General Topics => Topic started by: Cuda Cody on August 15, 2017, 10:02:03 AM

Poll
Question: Do you add the Protection Plan when you buy something?
Option 1: Yes, always add it votes: 0
Option 2: No, never pay for it votes: 15
Option 3: Sometimes, just depends on the item votes: 11
Title: Are "Protection Plans" worth it?
Post by: Cuda Cody on August 15, 2017, 10:02:03 AM
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:   
Title: Re: Are "Protection Plans" worth it?
Post by: Brads70 on August 15, 2017, 10:29:13 AM
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:
Title: Re: Are "Protection Plans" worth it?
Post by: Roadman on August 15, 2017, 10:58:17 AM
           Never     :rebelflag"
Title: Re: Are "Protection Plans" worth it?
Post by: ec_co on August 15, 2017, 11:11:35 AM
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.
Title: Re: Are "Protection Plans" worth it?
Post by: ViperMan on August 15, 2017, 12:37:51 PM
You're going to burn that popcorn and be all like
(https://forum.e-bodies.org/proxy.php?request=http%3A%2F%2Fwww.jeffreystephen.com%2Fuploads%2FHomerDoh.jpg&hash=57d251e2f86173252bbeb6acedf1782038368cf2)

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.  :)
Title: Re: Are "Protection Plans" worth it?
Post by: ec_co on August 15, 2017, 02:09:23 PM
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
Title: Re: Are "Protection Plans" worth it?
Post by: CudaMoparRay on August 15, 2017, 03:00:54 PM
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:
Title: Re: Are "Protection Plans" worth it?
Post by: 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.
Title: Re: Are "Protection Plans" worth it?
Post by: RUNCHARGER on August 15, 2017, 06:59:28 PM
I never buy those plans.
Title: Re: Are "Protection Plans" worth it?
Post by: Chryco Psycho on August 15, 2017, 08:44:17 PM
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 !!
Title: Re: Are "Protection Plans" worth it?
Post by: Bullitt- on August 16, 2017, 06:12:10 AM
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- (https://forum.e-bodies.org/mlist/bullitt_218)
Title: Re: Are "Protection Plans" worth it?
Post by: dodj on August 16, 2017, 06:17:06 AM
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.
Title: Re: Are "Protection Plans" worth it?
Post by: 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 (https://forum.e-bodies.org/mlist/cuda-cody_1) buy popcorn off of eBay...?

:))
Title: Re: Are "Protection Plans" worth it?
Post by: CudaMoparRay on August 16, 2017, 12:53:00 PM
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 (https://forum.e-bodies.org/mlist/cuda-cody_1) buy popcorn off of eBay...?

:))

You might be on to something! This thread could be derailed with just that answer.  :yes:
Title: Re: Are "Protection Plans" worth it?
Post by: Daveh on August 16, 2017, 01:17:03 PM
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:
Title: Re: Are "Protection Plans" worth it?
Post by: soundcontrol on August 16, 2017, 01:32:52 PM
I always deny any protection plan and extra insurance, think they are mosty scams.
Probably would have bought the popcorn plan though, and claimed hardware failure after I eat them :)


..btw, 24 bucks for popcorn?
Title: Re: Are "Protection Plans" worth it?
Post by: Cuda Cody on August 16, 2017, 02:40:17 PM
 :pokeeye:   Funny guy. 

That's the popcorn for the popcorn popper we have in the shop.  It is like the real movie popcorn and taste awesome.  I can not find anyone local who sells it.   :popcorn:   :pixiepop:  :popcorn:

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 (https://forum.e-bodies.org/mlist/cuda-cody_1) buy popcorn off of eBay...?

:))
Title: Re: Are "Protection Plans" worth it?
Post by: TheGanzman on August 16, 2017, 03:26:16 PM
A timely question, as I just got back from the Stealership after authorizing ~$5K worth of repairs on my wife's 2009 MB AMG SL63... :rubeyes:  We bought that car "pre-owned" (Gawd - I HATE that term!) from the same Stealership that has serviced it since then, ~4 years ago.  They offered a 1 year bumper to bumper warranty w/the purchase; I arm-wrestled them for ~2 hours and negotiated 2 years on the warranty.  ~2 months before it expired, the intake manifold required replacement, along w/both fuel rails - a $4,700+ repair that cost us NOTHING...

Before you go doing this:  :banana: here's the BAD news - car now needs new front rotors & pads (Brembo), new motor and transmission mounts, and various & sundry other things - the price of the rotors ALONE is $2,200+; that's for two count 'em TWO freakin' rotors!  This is me HATING new cars!

Having said all that, when I bought my '16 Mazda CX-5, I did buy the 7 year-100K miles bumper-to-bumper warranty for $1,700.00.  As a result, I drive it like it was a rental car, manually shifting it at close to redline on each shift, LOL.  I guess I'm just an old geezer, but I can NOT abide even the THOUGHT of a(nuther) multi-thousand $ car repair; it's just seats & a steering wheel, f'er Chrissakes! :(

Yeah, I know - poor YOU, limping along w/that AMG SL63...me & my 1st World Problems... :crying:
Title: Re: Are "Protection Plans" worth it?
Post by: Katfish on August 16, 2017, 03:51:26 PM
Don't think a warranty would cover brakes, that's a normal wear item......
Title: Re: Are "Protection Plans" worth it?
Post by: 71GranCoupe on August 16, 2017, 05:01:55 PM
Seldom if ever have I purchased extended warranties. One that does come to mid was when the big plasma TV's came out. I did get one then and it did pay off. Usually the only ones that prosper from the warranties is the people selling them.  :alan2cents:
Title: Re: Are "Protection Plans" worth it?
Post by: RUNCHARGER on August 16, 2017, 06:07:05 PM
We bought extended warranty for the wife's  MB 350SLK too but I would sooner have bought a better car that didn't need the extra warranty. Her choice though.
Title: Re: Are "Protection Plans" worth it?
Post by: Chryco Psycho on August 16, 2017, 10:03:29 PM
 :iagree:

Buying "status" cars is just pissing $$ away , You pay too much up front , the devalue far faster as a 5 year old status car is not screaming status anymore & the maintainence on them is beyond stupid !!
A lump of iron formed into a brake rotor for most cars is Maybe $50 someone explain what is $2150 different in words I can understand please  :Thud:
Title: Re: Are "Protection Plans" worth it?
Post by: ViperMan on August 17, 2017, 05:46:53 AM
Quote from: TheGanzman on August 16, 2017, 03:26:16 PM
Before you go doing this:  :banana: here's the BAD news - car now needs new front rotors & pads (Brembo), new motor and transmission mounts, and various & sundry other things - the price of the rotors ALONE is $2,200+; that's for two count 'em TWO freakin' rotors!  This is me HATING new cars!

What I'm reading here is "Don't buy a Mercedes..."  Brakes on my '09 Jeep will probably cost me $250 bucks for all four corners.  :)

I did look up rotors for the old Volvo S60 R I owned - I believe those rotors were well over $200 a piece...  So I sold it before it needed brakes!!  :))
Title: Re: Are "Protection Plans" worth it?
Post by: Chryco Psycho on August 17, 2017, 06:57:16 AM
I almost bought a Porsche 928 S around 99 , the car was stupid cheap , & I had the cash , would have been a blast to drive between snowstorms !! What prevented me from buying it was simple ........ how much $$ when not if the _____ fails !
Personally you could not literally GIVE me a BMW / Audi / Benz / Lexus /Infinity , my experience is they are no better than a Hyundai or Dodge Ram & Cost 10x as much to fix / buy parts for .  :alan2cents:
Title: Re: Are "Protection Plans" worth it?
Post by: Katfish on August 17, 2017, 02:17:31 PM
Simple economics, in exaggerated numbers,

If it cost $1M to design and bring to market a product and you sell 1, then that adds $1M to the piece part cost.
Now if you spend the same $1M and sell 1M parts, then it only adds $1 per part to the base price.