Is it ever worth buying the Extended Warranty?

[Xavier434]

Originally posted by: bsobel

That's a valid point for sure. #4 is much more based on an individual's opinion rather than math. For example, I like to have some money in savings for a rainy day. However, I do not like to rely on those saving for those reasons because it still makes me nervous. I include the extended warranty as part of the cost rather than it being optional so that I can simply buy it and forget about it without having to worry. Now, is that always going to be the most money efficient choice? No. Will I make that choice with every product I buy? No. However, it is my best option for convenience and to keep peace of mind when whatever I buy glitches occasionally. I can't keep that peace of mind even if I have money in savings dedicated to it, but I can with a warranty. I know that it's mind over matter in a lot of cases and worrying about those "big" repairs that I mentioned in #3 are not very necessary but I can't help it. So, in the end I am buying myself a stress reliever more than I am buying insurance which is worth the extra dollars to me and I have cashed in on in the past more often than most. I don't know if that makes me lucky or not lol.

Nothing to disagree with, each person has to put a value on that comfort value. I tend to look at things from a pretty straightforward spreasheet view (is x less than y, then x is better) but I do realize many people do pay for peice of mind.

Ya, I kind of do to in a sense. You see, the reason why I don't have peace of mind when it comes to relying on savings over warranties is because I simply cannot predict the future and I am a control freak about those kinds of finances. I cannot predict how much it will cost to repair/replace something if it breaks. Therefore, I cannot fully prepare for the worst should the it happen without going overboard with my savings which is just as bad because that much saving usually means I don't have any money for other fun things. On the other hand, the warranty ensures me that I don't have to worry about that provided that I stick to the warranty's policy which I always read thoroughly. It's a control freak issue. I should probably learn to tone it down some, but it hasn't bitten me too hard yet.