Why You Should Steer Clear of Extended Warranties

Understand the manufacturer's warranty before making a purchase. Federal … Check to see whether you already have extended coverage through a credit … Read the fine print. Extended warranty coverage may not be as … Consider how much repairs would cost. Extended warranties cost an … Buy higher-quality products. Research the items you’re planning to buy … See full list on consumerreports.org

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6 Reasons To Steer Clear Of Extended Warranties: A Financial Guide

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Jun 9, 2024 · The Cost Of Extended Warranties. Extended warranties can significantly add to the cost of a product. Many retailers offer extended warranties that can range from 10% to 50% of …

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FAQs about Why You Should Steer Clear of Extended Warranties Coupon?

How does an extended warranty work?

An extended warranty, or service contract, works like an insurance contract for the product you purchase and is typically sold by the retailer at the point of sale, although it’s often possible to buy one afterward from third parties. ...

Are extended warranties worth it?

Extended warranties are a type of insurance to cover the cost of repairing or replacing products that have manufacturer defects. They are great moneymakers for retailers, but relatively few customers ever need to use them. Remember, many new appliances and electronics already come with a manufacturer warranty that’s good for a year or longer. ...

What should I do if my extended warranty doesn't work?

If you have a problem with an auto service contract or extended warranty and it doesn't cover the repair, contact the company directly. If that doesn’t work, report it to the Federal Trade Commission (FTC). The article explains auto warranties and auto service contracts, their differences, and extended warranty scams, along with your rights. ...

What are the pros and cons of extended warranties?

We shall explore the pros and cons of extended warranties to assist you in making an informed decision. An extended car warranty is a consumer contract usually purchased when a vehicle is new. These contracts vary widely in price and usually come with several levels of protection. Exclusions apply and additional out-of-pocket costs are possible. ...

Is extended warranty coverage a good idea?

Extended warranty coverage may not be as comprehensive as you think. Extended warranties often include lots of exclusions that make the service less useful. ...

Should you get an extended warranty for your car?

An extended warranty provides peace of mind and reduces the chance you’ll have to pay for unexpected repairs. However, it’s not a necessity, nor is it right for everyone. There’s also a good bit of flexibility with the ability to customize the extended warranty to your preferences. ...