What’s your view on extended warranty.I just bought a battery operated Drill and bought the extra warranty.,only because of the battery life.
Good choice for batteries because that makes them responsible for recycling, too. (They might be, anyway…)
Depends on the drill/battery brand and how much you use it. Had a Makita (expensive at the time ) drill when they first came out ( I was in construction at the time ) and it lasted well over ten years. A few years ago I bought a 14 volt Ryobi ( $ 29 )and it lasted about 5 years with occasional use. Usually the batteries are the things that go out. Some manufacturers change the battery styles after a few years so getting replacements can be difficult.
[QUOTE=Pernundel;2712311]Depends on the drill/battery brand and how much you use it. Had a Makita (expensive at the time ) drill when they first came out ( I was in construction at the time ) and it lasted well over ten years. A few years ago I bought a 14 volt Ryobi ( $ 29 )and it lasted about 5 years with occasional use. Usually the batteries are the things that go out. Some manufacturers change the battery styles after a few years so getting replacements can be difficult.[/QUOTE]
That’s my problem the batteries to replace cost as much as the drill itself.I just bought a Dewalt 20 volt ,their making them smaller and lighter and have a different kind of battery.I have an older dewalt but to replace the batteries would cost as much as this new one did.But they wanted 12 bucks for a two year warranty.
I made a conscious decision to avoid extended warranties, more than twenty years ago, unless there was good reason and I’ve never regretted it as it’s saved me a small fortune over the years.
Whenever we got married we were getting almost everything for the house and the warranties would have been an awful lot of money to us back then so I decided not to take out any and put the money I’d saved towards any repairs that were required.
Most of the time they’re exorbitant too and the best example of this was when we bought a washing machine a number of years ago.
The washing machine cost Â£199 and sales assistant insisted on getting me the warranty details despite me telling him I wasn’t even remotely interested.
It turned out the extended warranty was Â£230 and I remember the look on his face when I told him that if it ever broke down I could buy an entire new washing machine for less than he was charging me for the warranty alone!
Anything unreliable though is a different matter such as colour TVs in the very early days (which is why the TV rental places thrived back then) and camcorders when they first came out.
I honestly can’t remember ever taking out an extended warranty in the last twenty years though.
They are a gamble. And like any other gamble the odds are stacked in favor of the house. However I ‘won’ big time on my first DVD player. The machine’s list price was over $300, the actual price $200 (end of a model floor unit price) and the 5 year warranty $30 or so. The player failed after about 4 years and in that 4 years prices for a comparable model had dropped to around $150. I got a new DVD player (which I still have) and they rebated the remaining $150 value of the warranty! YMMV…
PS: Haven’t bought an extended warranty since.
Also it’s a good idea to look for “lifetime” warranties .
These are not always so easy to get the warranty honored but sometimes are.
I have a kitchen faucet that I’ve warranted twice at Walmart over about 15 years.
I usually have to get upper level management involved . So muct for Walmart customer satisfaction.
In the end they’ve always warranteed the faucet.
Now the warranty says it has to be returned to the manufacturer.
But I have the original & at that time the warranty states “Return to Walmart or the store purchased” I would have to look it up but that is what I point out.
BTW each time I’ve got a different brand faucet because Walmart has switched brands. This further complicates the issue.
@ Wombler , My dad was an appliance repairman & he worked for Montgomery Wards the last 10 years of his life. He did mostly warranty work. You’re correct the warranty cost many times exceeded the value of the item. However many times the repair cost exceeded the cost of the warranty.
Sometimes it is convenient not to have to shop again ,then have an old washing machine removed & hauled off. Then the new one connected. Sometimes once the warranty repair was done the appliance was better than new.
@ cholla I knew this guy ,he worked at the same place as I did,and he doesn’t have a clue how to change oil or check the level,he would buy a sears lawn mower and lawn tractor and get the warranty on them . He would leave this stuff outside in the weather ,winter ,summer what ever and when he needed to use them he’d have to call sears and they would come out and get them running.I know that one cost sears some money.O and one time I stopped in the lawn tractor was out in the yard up on it’s side .( no since at all)
My advice would be to check what your house insurance covers, especially with more valuable items such as a laptop or TV and if the home insurance covers accidental damage.
A few years ago, a friend had a laptop that totally failed just under two years old, so was well past the usual 1 year warranty. I had a look at it and it wouldn’t do anything other than light the power LED. He decided for curiosity to call his house insurance, since as his insurance covers accidental damage, he wondered if that covered failing appliances also and sure enough they did. They collected his laptop and a week later, a courier arrived with a new higher spec. laptop along with the hard disk from the old laptop. According to his home insurance, there wasn’t any excess and this didn’t affect his following year premium.
I remember come across similar advice before, since it may be cheaper to upgrade the home insurance to cover accidental damage than it is to pay for an extended warranty for some goods, especially if buying multiple items and quite often the home insurance will cover more than what the extended warranty would. For example, when our washing machine broken down, despite coming with a free 8-year extended warranty, there was still an â‚¬80 service charge as the extended warranty turned out to only cover parts.
By the time the battery dies, the drill will be obsolete.