Extended TV warranty

[Surefire]

I recently bought a Sony wide screen TV for £700. A few days later i recieved the option to extend the standard 1 year warranty to 5 years for £230. I would be interested in peoples opinions as to wether it would be a good idea to take it out or not.

Thanks

 

[Porker]

No. I wouldn't take it out. The margins are so low on consumer goods now, all the money is being made on these extended warranties which is why they are pushing them.

Of course you may be unlucky and have a problem but..... IIRC Sony have a longish warranty period on TVs anyway(They did 10 years ago when I worked for them). Plus there is some EU legislation that can mean that if it breaks say after 12months, this is not considered 'reasonable' and there are a number of documented cases on the net where persistent individuals have won through against manufacturers on this basis.

Also their TVs are fairly reliable and the warranty seems a large % of the initial cost. Put another way if you calculate by risk and avoided any extended warranties on all your CE goods and 'self insured' i.e. paid out of your own pocket when you had a problem, you would probably save money overall.

 

[big-all]

i think extended warranties are terrible value for money
the average elecrtical item last about 7 years or somthing like that before they need major repair

think of it logicly if it breaks down in the first year you get it repaired for free so your paying £57.50 a year for piece of mind when the chances are it wont break down and in about 4 years time your £700 tv will be avalable for about£300

take the money it would have cost you for extended warrety for all your electrical goods [tv sterio fridge washing machine ect ect]
put in a savings account i doubt if you will use 30% of the fund

 

[nstreet]

I was one of the unlucky ones when PowerPlan one of the companies, which underwrite extended warranties went down the pan. I had both my Dyson and Sony TV covered and was looking forward to the £100 cashback after the 4 yr period. No chance now Won't ever bother again.

http://www.which.net/campaigns/other/archive/warranties.html

Most consumer electronics will either work for a very long time or will fail in the first year so either way you should be ok.

 

[AdamW]

"Self-insurance" is the way. I know a guy who finds out how much the warranty costs, then puts the cash in a jar. When he has an appliance break, he dips into the jar and has enough to buy a new one.

When widescreen TVs were first coming out, years ago, my dad bought a Sony one. The tube went after about 12 months and a week. Luckily he had bought it from John Lewis who throw in a 3-year warranty as standard.

I bought a Sony Wega 2 or 3 years ago and I have had absolutely no problems with it. I would say that the warranty you have been offered is a waste of £230.

I had a great conversation when I bought it:

Salesman: Would you like the extended warranty?
Adam: Oooh, no, my last Sony TV lasted 12 years, I'll trust it!
Salesman: Well, surely you understand that technology moves on at an incredible pace...
Adam: Why, do you think it might break down?
Salesman: They are incredibly complex items now...
Adam (with absolute sincerity): Maybe I haven't thought this through... I don't think I want to buy it if it's unreliable.

It really wound him up! I couldn't hold a straight face for long enough, after 10 seconds of him stuttering through the paradox I cracked, and he realised. But the point is, they always pressure you with the warranties and it is good that someone gets them back from time to time!

 

[Surefire]

Im of the opinion that equipment which is mainly electronic with few or no moving parts tend to be pretty reliable so taking out an extended warranty on these items would not be financialy viable. However from experience I have learnt that mainly mechanical items such as washing machines and dishwashers tend to be very unreliable and so it may be worth taking out the extended warrantys on these items. I say I talk from experience because the last two washing machines I have owned would have cost me a fortune to repair had I not had the good sense to extend the warrantys on them. My first machine an Ariston washer drier needed a service engineer at least once per year and often three times in the six years I had it (I certainly got my monies worth out of that one). My second machine a Hotpoint Aquarius needed a new outer drum as the mountings had worn in it's second year. The engineer at the time told me that it was touch and go as to wether I got a complete new machine or they repaired my old one because the cost of the drum plus the engineers time was so high. So basically I think if you buy a washing machine the extended warranties are a good idea providing they are not too expensive.

 

[securespark]

Ah yes..that well known ad campaign.

Ariston and on and on and on and off and on and off and on.................

 

[petewood]

I was once buying an appliance, I can't remember what, at Comet. The salesman (actually that should be salesboy) tried to sell me an extended warranty. I asked him how likely it was that the thing would go wrong within 3 years, "I can almost guarantee it" was the reply!!

I didn't take the warranty and I don't think the item ever went wrong.

I agree with most here that these warranties are a waste of money. If you look into your rights as a consumer, you will find that goods sold must be sold 'fit for purpose'. There is even a scale of how long items can reasonably be expected to last and I'm sure you could find this on the net.

I'm fairly sure that if your tv breaks down within 3 years you can claim it was not fit for purpose and you have the right to free repairs at the least.

Most retailers will argue against this but you have the law on your side.

 

[pipme]

Bought my widescreen from John Lewis, last year .. 5yr guarantee included in price, Comet were just a little less on cost of TV, with 1yr Manf guarantee only, additional 3 yrs cover cost a lot .. Pushed all in price well above JL and was still 1 yr short.

BTW There is also a reasonable chance that Johnno will still be around in 5 yrs !!
They are still doing the 5yr thrown in ...
Looked at JL's Miele Wash MC expensive at £799? With 10 yr guarantee included?? Cheap at £80 per year !! A 'Roller' amongst Wash Machines ?
LINK

 

[Steve]

Bought my widescreen from John Lewis, last year .. 5yr guarantee included in price, Comet were just a little less on cost of TV, with 1yr Manf guarantee only, additional 3 yrs cover cost a lot .. Pushed all in price well above JL and was still 1 yr short.

in fact the comet warranty may have also covered the one year that the appliance is under manufacturers guarrantee. therefore it may only be 2 years cover.

 

[WoodYouLike]

I had a great conversation when I bought it:

Salesman: Would you like the extended warranty?
Adam: Oooh, no, my last Sony TV lasted 12 years, I'll trust it!
Salesman: Well, surely you understand that technology moves on at an incredible pace...
Adam: Why, do you think it might break down?
Salesman: They are incredibly complex items now...
Adam (with absolute sincerity): Maybe I haven't thought this through... I don't think I want to buy it if it's unreliable.

It really wound him up!

Also had such kind of conversation with sales'boy', buying electric toothbrush. After I'd ask how long this product was normally supposed to last without fault hes said: well, at least 3 years (product guarantee was 1 year).
Fine, I said, then if it breaks after 1 year and before the 4th year it falls under production/manufacturers warrantee (E.G. legislation)

He, salesboy, didn't know about that and mubled somthing more. Had a long queue behind me, don't think he sold one of those insurance that day

 

[Moz]

I have just replaced my tv ,I dont like these widescreen TVs but the young kids in comet/currys,were wailing they dont do square screens , my last one was a cheap £150 28" square proline model , I had it for 5yrs..

the lowiest spec /price for a wide screen was £250,I asked to see the manager an asked if he had an square TVs in an flashed the twenties ,he said of course we have a 28" Proline one at £160,not on display ,I told him I would have it ...
If I get the same yrs out of it for the price its bang on !

 

[nstreet]

I had a Matsui once (Currys own brand). I had it for 12 years, then sold it on and it is still working some 5 years later. Not bad for the £50 or so that I paid. I was really chuffed when I got it as it was my first colour tv and it also had a remote control

 

[felix]

Listen carefully, I shall say this only once.

The value of any product is inversely proportional to the zeal of the salesman.

I've fended off many attempts to sell me overpriced extended warranties. My usual line goes something like this:

"No problem. I fix particle accelerators for a living. I think i can manage a simple -----(insert product here)."

It usually shuts them up but this is a corker:

Maybe I haven't thought this through... I don't think I want to buy it if it's unreliable.

Nice one Adam I'll remember it next time some salesperson tries to ram their warranty down my throat.