If you purchase anything that uses electricity and is designed to last more than a year, odds are you will be offered an extended warranty at the point of sale. What are the chances of that product malfunctioning just outside the standard warranty term? Often, they are low – and the store or manufacturer is just reminding the consumer of that remote possibility in pursuit of extra profit.
Online research may reveal that the standard warranty on a product you want to buy has proven adequate. Not only that, some credit cards provide consumers with extended warranties. In some cases, buying a product with a particular card may lengthen the basic warranty period by a year.
Sometimes it can be smart to purchase an extended warranty. Most basic warranties don’t cover accidents, but some extended warranties do. You may not have to buy an extended warranty when an item is in your real or virtual shopping cart, though. Some retailers will let you buy longer warranty coverage after the sale, and online businesses like SquareTrade sell extended protection plans for some products at a discount.3
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3 – quickenloans.com/blog/5-reasons-not-buy-extended-warranty [1/13/17]