Planning on purchasing a major appliance this holiday season? Expect a high-pressure sales pitch for an extended warranty, but be aware that it might not be such a rosy deal.
According to articles on consumerreports.org and consumersunion.org, extended warranties are rarely the value they are presented as being by salespeople. In addition to commission received by the salespeople, this article by Consumer Reports, states that, “stores keep 50 percent or more of what they charge for warranties.”
Unfortunately, consumers are faced with shortened warranties being provided by the manufacturers. Since 2005/2006 most major appliance manufacturers have shortened the length of warranty coverage on new appliances from three years, down to one.
According to an article by ConsumerReports.org, this includes appliance manufacturers Frigidaire, General Electric, Maytag, and Whirlpool amount others. Appliances by KitchenAid, Jenn-Air and Electrolux, have continued to keep longer warranties coverage on some of their pricier products and parts.
If you are planning on purchasing a major appliance, consider the following advice from consumersunion.org:
- Research your purchase, buy products with a solid record of reliability
- Check to see if one of your credit cards offers an extended warranty
Read the rest of their Holiday Shopping Advice online, including information about extended warranties.
ConsumerReports.org also offers some advice for those considering buying an extended warranty:
- Do not pay more than 20 percent of the purchase price of the product.
- Read the fine print, does the warranty cover in-home repair or pickup? When does the extended warranty start?
Read the entire article “Why you don’t need an extended warranty.”
ConsumerReports.org has also developed a list of products, including appliances, which often need repairs in the first three-to-four years, according to data provided by consumers. Check out the list online: “Repair rates for 3- to 4-year-old products.”
If your appliance does breakdown and is past its warranty, consider doing the repair yourself in order to cut costs. Purchase appliance parts online from APWagner.com. We carry parts for refrigerators, freezers, washing machines, gas ranges, clothes dryers, electric ranges and more. We sell only original manufacturer parts including: Frigidaire replacement parts, General Electric replacement parts, Maytag replacement parts, Whirlpool replacement parts, KitchenAid replacement parts, Jenn-Air replacement parts and Electrolux replacement parts.