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    Extended warranties.... a rip-off ?

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    papa_umau
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    Extended warranties.... a rip-off ?

    Post by papa_umau on Fri 27 Sep 2013, 1:50 pm

    I have been discussing about and resisting the use of extended warranties for many years on and off the internet and now some recent research has supported how I have always felt about these things.

    This research has found that these warranties have always been controversial and have been heavily criticised by consumer groups like Which? for being an unnecessary expense.

    All new electrical appliances come with the manufacturers one year guarantee and they are responsible for replacing or repairing the product during that period.

    The Sale of Goods Act 1979 gives consumers legal protection if a product fails, and allows them to make a claim to the manufacturer for up to SIX YEARS after the purchase date.

    The law states that the product must be "as described", of "satisfactory quality", and "fit for purpose". If there is a major fault with the machine it will usually show itself within the first few months of use. The natural lifespan of a domestic appliance is around six years, which is now when most people would look to replace it anyway. Therefore, you could end up paying hundreds of pounds over three to five years for costly cover you don't need.

    Even if you are still worried, you can buy stand-alone insurance policies for around 7.99 a month; much cheaper than most store warranties.




    Well there you have it folks; if you have often wondered about these extended warranties, now you have it in black and white.


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    Angie baby
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    Re: Extended warranties.... a rip-off ?

    Post by Angie baby on Sat 28 Sep 2013, 11:03 am

    I never take these things when I am offered them and I think that the sales assistants that are told to offer them are now used to being refused as they do not push it.

    Anyway, it is good to see this set out clearly so that we know where we stand.
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    papa_umau
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    Re: Extended warranties.... a rip-off ?

    Post by papa_umau on Sun 29 Sep 2013, 12:01 pm

    Yes Angie, they are told to offer them but they now expect to get a knock-back and are also trained to drop it when the punter says no.


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    Hell's Granny
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    Re: Extended warranties.... a rip-off ?

    Post by Hell's Granny on Wed 09 Oct 2013, 11:07 am

    I have never taken out a store's extended warranty, the manufacturer's one is fine for me.
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    papa_umau
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    Re: Extended warranties.... a rip-off ?

    Post by papa_umau on Thu 10 Oct 2013, 10:03 am

    And so it should be my dear.

    The problem is that many people feel they are doing the right thing by taking out separate insurance and that is how these companies can easily con us into doing it.

    The banks are now laying out millions for the mis-selling of PPI insurance and even the likes of ( CPP ), Credit Card Protections Policy companies are getting caught in this way too.

    We may very well find that extended warranties are eventually going to go down this road too after the government get their finger out and stop them.


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