Would you buy Best Buy's extended warranty for an HDTV?

[adazam10]

I am about to buy a toshiba 56h80 hdtv from there this week for $2999. It comes with a free toshiba low end dvd player and free shipping and handling which makes it a pretty good deal compared to the online sites I think. They said I can get credit for the free dvd player towards the purchase of a better one (I am going to get the toshiba sd5109 or sd6200). They try to sell you the extended warranty pretty hard. It costs $450. Will it actually give me any sort of extra protection over what toshiba's warranty provides? Is it worth it at all? Any response would be appreciated.

[Shay]

Usually extended warrenties are big cash cows for the stores selling them. I believe Consumer Reports recommends against it.

[edclem]

more often than not, the things that go wrong with players are NOT covered under the extended warranties.

I usually avoid them.

[BEC]

I believe adazam10 was asking about an extended warranty for the HDTV that costs $450.

Probably not worth it. You'll get coverage for wear and tear on the remote and a mediocre service man.

Your $450 (perhaps even less) might be better spent on an ISF calibration. Many out-of-the-box Toshiba sets are supposed to be factory-set w/less than ideal parameters.

A good ISF technician will bring a factory/service remote, HDTV signal analyzer, colorimeter, spectrometer,...
He'll properly set the convergence and gray scale, fix geometry errors,... and get a set running in tip-top shape.

A bestbuy service guy MIGHT be able to use video essentials or avia.

Of course, you may not be that picky, in which case putting the $450 towards a progressive scan DVD seems like a better idea.

[renaldow]

I'm with everyone else. Pocket the $450 and don't look back. It's rarely worth it, and I never buy them.

[Thunderball]

I have to say, I only buy the warranty if it's soemthing big. I bought one for my eMAchine cause I understand they suck. I have one for my DVD Player, and I DON'T have one for my Wega. Guess which one of those is giving me problems?
The Wega. My rule of thumb(Murphys Law) if you buy the warranty you will have NO problems with your TV.

[Venus]

Originally posted by Thunderball
I have to say, I only buy the warranty if it's soemthing big. I bought one for my eMAchine cause I understand they suck. I have one for my DVD Player, and I DON'T have one for my Wega. Guess which one of those is giving me problems?
The Wega. My rule of thumb(Murphys Law) if you buy the warranty you will have NO problems with your TV.

You're REALLY having problems with your WEGA?
Should I buy the warranty when I get mine at Circuit City? They want $180 for 3 years on a 36". I really don't want to spend the money, but if WEGAs tend to need some fixing I might have to.

[jumbojp]

I would never buy an Extended Warranty. If there are any problems with the set it will probably pop up within the manufacture's warranty.

Extended Warranties are just another way for the retailer to screw the customer out of money.

[Kromax]

I hate the term "Extended Warranty." Hogwash.

Look at it for what it is: insurance. When purchasing any type of insurance policy, examine the coverage very carefully; there is a lot of fine print. Don't just buy it because the salesman pitches it, as was said above, these are "cash cows."

Do I recommend purchasing an insurance policy on a tv? No, but that's only my opinion. If it gives you piece of mind, maybe it's worth it to you. I am not however, of the school that says "if it's going to break, it's going to break during the manufacturer's guaranty." That couldn't be further from the truth. Generally, the length of the manufacturer's guaranty is determined by deciding when the product will not break. Do you think these companies are trying to make sure any malfunction comes up within the warranty period? Do you think they have anything to gain by it?

[1blwnsaleen]

I will agree with the general consensus here that an extended warranty is probably not a wise financial move. If there is something terribly wrong with your unit it will show up very soon. When I purchased my computer I opted for the larger monitor but did not go for the warranty. Within a week I had a problem with the monitor the manufacturer replaced it and I've had no problems since.

I think extended warranties are good for some customers whom tend to be hard on their possesions. If you are the type who doesn't abuse their stuff you should be fine.

[junglist19]

I really think that it is a case specific issue. For certain items that are damaged easily or tend to have problems I would definitely get the warranty that Best Buys offers. For items like my cell phone and Handspring visor. These things get banged around a lot and when I go in, they just give me a new one. If the battery on my cell goes out, I get a brand new one.

For TV's though it would be a little hesitant. If VVegas or any TV for that matter are prone to having problems it might be worth it. But you might want to think twice about buying a product that may be troublesome. I hope this isn't the case since I was planning on getting the 36"VVega.

Amiel

[TexasGuy]

Remember, the more equipment you purchase, the more sense it makes to self-insure. For example, here is what I will save in warranties from electronics I purchased in the past year (and plan to purchase in the next few months):

DVD player ($50)
Car CD changer & Speakers ($100)
Home Theater Receiver ($100)
Television ($450)
Speakers ($100)
300-disc CD Changer ($100)

In all, this saved me about $900 to use for future repairs IF anything goes wrong with any of these units in the next five years (the general length of an extended warranty). Otherwise, I saved a significant amount.

[Movie_Man]

Originally posted by TexasGuy
Remember, the more equipment you purchase, the more sense it makes to self-insure.


What do you mean by self insure? Is this like an extended warranty through a third party company?
I have a considerable investment in my home theatre and would be crushed if something happened to it. I would certainly be unable to afford replacing it. More info please?
When I bought my TV several months ago, the dealer threw in an extended warranty at no cost. Although it may be difficult at Best Buy, you might try to actually negotiate a discount on that warranty plan. My rule of thumb is to get the extended warranty if I couldn't afford to replace it. (HDTV - yes, DVD player - no)

[renaldow]

Originally posted by junglist19
For TV's though it would be a little hesitant. If VVegas or any TV for that matter are prone to having problems it might be worth it. But you might want to think twice about buying a product that may be troublesome. I hope this isn't the case since I was planning on getting the 36"VVega.


Exactly. TV's tend to sit in one spot, maybe moved once every couple years to rearrange your space, move, etc.. TV's don't last forever, but dang if most don't out live their usefullness.

Like I said above, I never buy the extended warranty. I wouldn't buy a product (especially a TV) if was unsure whether or not I would need it. If you don't have confidence in the product, look for another model.

[TexasGuy]

Originally posted by Movie_Man
[QUOTE]What do you mean by self insure? Is this like an extended warranty through a third party company?
I have a considerable investment in my home theatre and would be crushed if something happened to it. I would certainly be unable to afford replacing it. More info please?


By "self-insure", I was referring to an alternative to purchasing an extended warranty. I did not mean an alternative to traditional property insurance, which is a good idea since it covers things that are not covered by a warranty (like theft, fire, flood, etc.). Sorry for the confusion.

BTW, I actually have a rider on my homeowner's insurance to cover my home theater. In addition, I always purchase surge protectors with attached insurance policies for all the equipment. (For example, APC includes a $25,000 electrical insurance policy for equipment attached to their surge protectors).

If you are that worried, you may want to read the fine print on your warranty to see what it does NOT cover.



[Edited by TexasGuy on 04-26-01 at 11:59 AM]

[mugwump]

One advantage to buying from a place where the sales staff works on commission (unlike Best Buy) is that you can often get them to knock the price down on the unit if you agree to pick of the extended warranty. They usually get a higher kickback on the warranty sales than on the equipment itself. When I bought my receiver two years ago I got the 3-year warranty added in and the price lowered so that I ended up paying close to the sticker price. This last week it died and is now being repaired under warranty.

I would never pay as much for a warranty as Best Buy wants but it may be worth shopping around if you have any other local options.

[Thunderball]

My rule of thumb is, if the product is more than you could afford to REPLACE if something should happen, you should buy the warranty. Cash Cows they may be...but better safe than sorry

[0ne]

Having a big screen tv checked up by an ISF certified tech is going to cost you ~$150. Big screen tv's should be serviced once a year to maintain optimum color and picture quality. Best buy's warranty covers: all parts, all labor, lightning damage/power surge, normal wear and tear coverage(remote/buttons) and most importantly your yearly services.

Even if the tv is NEVER struck by lightning or NEVER needs a bulb or digital comb filter replaced(big $$$) you still have.

$150 X 4=$600.
$600>$450

And hell, at the end of the fourth year, hook the damn thing up during a lightning storm and hope it gets fried. Lightning damage is going to be more expensive to repair than to replace, so you will get a voucher for the amount you paid to buy a new tv. Trust me, that tv you bought 4 years ago is going to cost about 1/3 of that 4 years later. You can buy a brand spanking new flat panel plasma screen with a built in digital decoder for the price you paid for your tv. (a little inside info for you)

Silent yet violent
-1



P.S
If you have the money go for it. If you dont, the sales person is very likely going to tell you that the TV is on backorder. Since they arent on comission, they dont care if you buy it or not. Our managers get bonuses based on their percent revenue/percent service plans. If a sales person sells a HD tv without a service plan odds are the manager will make up some cock and bull story about insubordination to get the kid fired. Most guys arent going to risk their jobs, so they'll just tell you they dont have it or get you to order it online.(a little more inside info for you)

[Charybdis]

Originally posted by mugwump
One advantage to buying from a place where the sales staff works on commission (unlike Best Buy) is that you can often get them to knock the price down on the unit if you agree to pick of the extended warranty. They usually get a higher kickback on the warranty sales than on the equipment itself. When I bought my receiver two years ago I got the 3-year warranty added in and the price lowered so that I ended up paying close to the sticker price. This last week it died and is now being repaired under warranty.

I would never pay as much for a warranty as Best Buy wants but it may be worth shopping around if you have any other local options.

I agree completely. When I bought my Mitsubishi Projection TV at a Tweeter B&M, they wanted something like $450 for a 5 year coverage. I told them I wasn't interested in it at that price.

The salesman must've really wanted to sell the coverage, so he knowcked $300 off the TV's price if I agreed to buy the coverage. So, in essence, I paid $150 for the 5 year coverage, whick includes yearly maintenance. Not too shabby in my book.

[Nefarious]

Originally posted by mugwump
One advantage to buying from a place where the sales staff works on commission (unlike Best Buy) is that you can often get them to knock the price down on the unit if you agree to pick of the extended warranty. They usually get a higher kickback on the warranty sales than on the equipment itself. When I bought my receiver two years ago I got the 3-year warranty added in and the price lowered so that I ended up paying close to the sticker price. This last week it died and is now being repaired under warranty.

I would never pay as much for a warranty as Best Buy wants but it may be worth shopping around if you have any other local options.

Actually Best Buy matches internet pricing. Recently purchased the 53" Sony HDTV which was marked at $3000. Brought in internet printout and they matched the $2,499 price. Still paid 3 large after taxes and warranty coverage...but in essence they were free.

[JimRochester]

My retailer only charged me $250 for the warranty on my Mitsubishi so I bought it knowing they're still 95% profit for the retailer. But if nothing else I'll get it serviced once a year for free.

[Arcade]

Nefarious.
Where is that Best Buy?
I tired to get them to price match A Sony receiver from an internet site and was in sense laughed out of the store.
I then took it to Sears who was more than happy to sell me the unit.