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Started By
Message
re: Exactly how stupid am I: Car warranty edition.
Posted on 12/19/16 at 9:13 pm to wfallstiger
Posted on 12/19/16 at 9:13 pm to wfallstiger
quote:
We have warranty coverage on darn near anything and everything
I do wonder about the wisdom of doing so.
Falls (long time purple board member) - just take a look at how much you are spending per year on the coverage and how much that coverage has paid out to you. Extended warranty coverage is crap.
1
Posted on 12/19/16 at 9:51 pm to Tigris
quote:
Falls (long time purple board member) - just take a look at how much you are spending per year on the coverage and how much that coverage has paid out to you. Extended warranty coverage is crap.
I once paid a lot of money for term life insurance but I didn't die, did I waste my money? The overwhelming majority of life insurance policies never pay out, we buy them because the cost to mitigate risk seems reasonable, the same analysis should be applied to extended warranties. Like life insurance just because extended warranties are very profitable for the seller and for most do not pay off is not a sufficient reason to say they are a waste of money?
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