Home Appliances Extended Warranties

I just purchased my first home and bought new washer, dryer and Fridgerator from Sears. The sales person was pressuring me to purchase the extended warranties but would of costed me over ~$700. Are the extended warranties worth it for home appliances?

 

I purchase them on my electronics, but not on my appliances. I have had washers and dryers, as well as refrigerators last 10+ years. Cannot say the same for my big screen TV's and gaming systems...

 

Congrats on your first home purchase!

 

Wow $700 seems like a lot. But in my experience, if there's a fault in an appliance or electronic device, it'll usually show up in the first year (and all those appliances should have a 1 year warranty). Consider hard drives, which have a high failure rate in the first 6 months, then that failure rate drops near zero until about year 5 before it shoots back up again.

Also, if you bought those appliances on a credit card, you might be eligible for up to 1 year of additional warranty (generally parts only) courtesy your card company. Check with Visa, MasterCard or Amex for details.

Did your house come with a home warranty? If so, the appliances will be covered under this, too, for the duration of the warranty. And home warranties cover both parts & labor.

 

I work for Best buy while going to college and they push the extended warranties because that's where they make their money from. Also credit cards. Sears makes more money from credit cards than they do from people buying things in store.

 

My old top load Kenmore lasted forever 15+ yrs. When I moved I had to go to a smaller washer/dryer so relunctantly sold the old set & bought new from Sears.

I did buy the sears extended warranty for my front load Kenmore washer (basically a Whirlpool) passing on all others.
That washer gave me the most trouble ever.
Two service calls in the first year. In the 4th year it totally died.
Sears replaced everything for free. It was worth it for me and am not usually a warranty purchase person.

So I do not know what model you bought but the newer front load models are huge on electronics.
Your call.

 

I'm selective on warranties. Personally, I think they're a load of crap, they should sell something that works and stand behind it, not make the consumer pay lots of extra money because they're unsure of their product. I didn't get the extended warranties on appliances we just purchased from Sears (also purchased our first new house and bought a stove, mircowave, dishwasher, washer and dryer).

 

If you are going to buy the warranty you need to shop that price as well as the price for the appliance. I just bought a new refrigerator and Sears wanted $368 for a 4 year warranty. I ended up buying the same refrigerator for the same price at Lowe's because the 4 year warranty was $150.

 

I usually dont purchase extended warranites, but its just with the washer/dryer having a computer has me thinking of buying it just in casemother board burns out. I didnt purchase the home warranty as almost everything in the home I bought new.

 

Appliances i wouldnt buy it on name brand products.

From when i worked at Sears a few years back , i would always talk to the appliances sales people. They made $5 for every Credit Card that opened and made anywhere from 15%to 36% of the cost of the warranty depending on their comission bracket