Extended Warranty: Aye or Nay?

[pgmrdan]

My policy is to deny extended warranties on everything so I save enough money overall to pay for the very few repairs I encounter but I try to check on the item's repair history first.

Have you folks had to use your extended warranties? If so, have the cost of the repairs exceeded the cost of the extended warranty?

Have those of you who rejected extended warranties wished you had bought them or glad you didn't buy them?

Thanks,
Dan

 

[NEPA Guy]

I think the decision should be based on your experience with the device in question. Are you finding issues with your machine? I dont think anyone can make a blanket statement. Give it a year and choose.

I've read where one guy was glad he made the extended warranty purchase and it saved him several thousand dollars. Then again, I doubt you'll find many guys who will admit to paying out and making themselves look like a fool after the fact.

Me, I'm going for the extended warranty.

 

[pgmrdan]

I don't have the tractor yet. I was going to decide 'yes' or 'no' before my purchase so I could get it as part of my 0% financing if I decided 'yes' (plus, I didn't realize I could wait up to 2 years). But you make a good point if I just have to purchase the extended warranty before the original basic warranty expires.

I'll have 2 years after my tractor purchase to decide.

Thanks for bringing that to my attention.

 

[scdeerslayer]

If it covers the emissions systems beyond 5 years I'm definitely getting it, otherwise I'll save the money for when the emissions systems needs work.

 

[85Hokie]

If it covers the emissions systems beyond 5 years I'm definitely getting it, otherwise I'll save the money for when the emissions systems needs work.

Most of the time (like 99%) I never get a warranty ......
this might be the exception - new stuff getting ironed out will take some time to work out, best have a backup plan!