Why Extended Warranties Suck; Never Buy Them
Why Extended Warranties Suck; Never Buy Them
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This guy is a joke..
Buy a used European car and have a an engine or transmission go out and you will realize how wrong you are about warranties
I’ve had best buy warranty in the past had a problem with a desk top computer and they couldn’t fix it, they gave me a brand new computer off the self. So, it worked in my favor that day.
They break. Only way to guarantee is to warranty
Idk bro it paid off for my car tbh
So I work at a certain store that requieres the sales associates to pitch the extended warranty on almost everything. Fear is a helluva motivator, let me tell you. These items don’t break, they’re built like tanks mostly. That "what if this happens" mentality is what gets them every time. One time I pitched it to someone and they immediately said no, so i said "ah, so you watched that Dave Ramsey video too?" but apparently they didn’t get the joke. If it breaks, it breaks, buy a new one.
Ford extended warranties are absolutely the worst I purchased a Ford extended warranty on my drive Frank had issues and they rejected the claim clearly it was a lubricated part and they still would not recognize her claim I would never recommend to anyone but unless they want to Lotta trouble
You are so wrong !!! On the profitability… it’s called peace of mind… something you’re not giving your clients that actually listen to some of your stuff …not saying it’s all bad but in this case you’re not doing people justice ..
Best buys $300 extended warranty for my $1100 Laptop paid off when I broke it completely. Lost $300 on the warranty and got $1100 back
It is a brutal way to try and make money. I tried one of these "fantastic" companies for a short period in an attempt to build client base….. I was approved for the work at the beginning only for them not to pay me at the end. Used them for a short time and lost over $500. Cut them off like a diseased limb. These companies can care less about their client base, can you see how much they would and do care about the contractor. If a home buyer purchases a home with a warranty plan, I would highly recommend dropping it when it times out.
with all the electrical components in cars noawadays, it could be worth it to get it
Dave you really need to update this information
None of his opinions make complete sense to me .
You’re truly blending small items with very expensive to repair items: Get Bent with your Self Insure!
Is Dave a guru in a mega church ?
usually things break after the extended warranty ends
Tire and wheel package on cars with low profile tires (40 side wall or less), thoughts?
Thank you Dave!
porsche audi Mercedes hydraulic suspension 6-12k
On big cost warranties yes. On printers from bestbuy the warranty is worth it
I completely disagree with Dave on this one. Extended Warranties are a no brainer and the cheapest insurance you will ever buy. What you have to be concerned about is when the dealer or manufacturer is not offering them.
Thy are just a company which has a license to steal hard-working peoples money NTP was mine and I couldn’t get no help for my transmission failure they wanted to know what caused the problem what a joke. My question is why do the sun rises in the morning why not at night why do people get cancer while they’re not a smoker why people die?
nice for a car but not on a PC $100 extended warranty when rep[airs can cost easy $200 in today’s inflation era
Search Doug Demuro Range Rover, proves Dave terribly wrong good sir
Carmax, paid 1700 they paid 6k. It’s a win
Dave you are comparing a air conditioning warranty to a car warranty? When a customer’s transmission go’s should I send them to you for the $4500 for the repair because they didn’t purchase the coverage?
We bought a Bissel carpet cleaner about 20 years ago and paid extra for a lifetime warranty. Two years ago it broke. We had kept all the paperwork and proof of purchase. We took it back and claimed a new one. After a few days to verify all our paperwork we got a call and took delivery of a brand new carpet cleaner. Not all warranties are worth it for sure,but some are. I’d go with a car manufacturers extended warranty most of the time, far less so with household appliances that are pretty cheap to replace from cash.
Extended warranties are a huge waste of money. If the vehicle doesn’t check out as reliable or you’re not going to have the money to fix it, don’t buy it.
i would disagree on your statement on warranties. i purchased one for my motorhome and already racked up 15k in repairs.
I paid $6 on an a $100 CD Player that the manufacturer warranty ran out one month. It paid off.
Maybe I’m lucky but my $2k extended warranty saved me $13k on a new motor in my truck.
Don’t buy a $25k car if you can’t afford a $200 repair…so more than half of America shouldn’t own cars…
All true, but warranties are not there as a net worth increaser. You’re paying to transfer risk. It’s a matter of liquidity.
How about we don’t buy home insurance too because insurance companies make money! lol Just because someone makes money on you doesn’t make it a bad deal. Also without know the item how could you just say no to all? There are certain items like computers and TVs that are highly recommended to have extended warranties. Especially if it’s from best buy.
Glad I saw this, before returning the item and repurchasing to add the warranty!
Dave “buy everything cash” Ramsey
Lol I’m sorry but at some point this dude is a joke. His advice is only good for a small niche of the population.
When asked if I want to purchase a warranty, I say no thanks! The item is cheap and I’ll buy another one but not the same brand name! 🧐👍
So if I could offer you $10k in coverage on a 100k mile used car for $2k, you wouldn’t take that deal?
I bought a used 2016 Mustang Ecoboost and got the extended warranty from Ford for an extra $18 a month on the car note.
What about an oled tv that has risk of burn in(image retention) to the screen? Best picture quality available on a tv but that’s the downside ..
I must be the worst kind of customer an electronics store can have. I never buy extended warranties and I never pay in installments.
I agree with a lot of the comments about having the extended warranty… Had a BMW X3, amazing car until…a problem popped up. Cost me $6000. I had the money to fix it. But, the problem with posing this argument on a Dave Ramsey video is that he would say why buy that kind of car?
Just did my research on extended warranty I bought. Wow. I am canceling tomorrow for a full refund. Thank you, sir!
you can literally say the same thing about insurance policies.. but you aren’t going to tell people not to buy insurance. Ultimately it comes down to piece of mind.
Great advice. Thank you
Please help
Oh buy the way. F—K Ford!
I’ll Never buy one Again!
How about for used vehicles?
Haha I just bought a used vehicle an was just about to purchase a extended warranty.. an then I thought to myself I better see what uncle Dave has to say about it!!😄 thank goodness I did!
This guy is giving horrible advice. Buy the extended warranty on cars. Engine goes out or transmission you are going to wish you had it.