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Lowes extended warranty for appliances - Any good?



 
 
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  #1  
Old May 5th 07, 07:25 PM posted to misc.consumers.house
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Posts: 30
Default Lowes extended warranty for appliances - Any good?

Hi,

We are thinking of getting an extended warranty upto 5 years for a
refrigerator that we bought from Lowes. Anyone with positive or negative
experience with Lowes Extended Protection Plan?

Any information is appreciated,

TIA
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  #2  
Old May 5th 07, 08:28 PM posted to misc.consumers.house
mc
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Posts: 195
Default Lowes extended warranty for appliances - Any good?

No specific experience, but generally, extended warranties are not a good
deal. They cost considerably more than the expected repairs would. Instead
of buying an extended warranty, keep your money and set it aside for
possible repairs. You may not "win" on every single appliance, but in the
long run, you'll win big.



"R Kannan" wrote in message
.. .
Hi,

We are thinking of getting an extended warranty upto 5 years for a
refrigerator that we bought from Lowes. Anyone with positive or negative
experience with Lowes Extended Protection Plan?

Any information is appreciated,

TIA



  #3  
Old May 5th 07, 10:33 PM posted to misc.consumers.house
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Posts: 192
Default Lowes extended warranty for appliances - Any good?

Sat, 05 May 2007 14:25:14 -0400 from R Kannan
:
We are thinking of getting an extended warranty upto 5 years for a
refrigerator that we bought from Lowes. Anyone with positive or negative
experience with Lowes Extended Protection Plan?


Extended warranties in general are a bad idea. That's particularly
true for "white goods".

--
Stan Brown, Oak Road Systems, Tompkins County, New York, USA
http://OakRoadSystems.com/
  #4  
Old May 6th 07, 03:50 AM posted to misc.consumers.house
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Posts: 140
Default Lowes extended warranty for appliances - Any good?

On May 5, 2:33 pm, Stan Brown wrote:
Sat, 05 May 2007 14:25:14 -0400 from R Kannan
:

We are thinking of getting an extended warranty upto 5 years for a
refrigerator that we bought from Lowes. Anyone with positive or negative
experience with Lowes Extended Protection Plan?


Extended warranties in general are a bad idea. That's particularly
true for "white goods".

--
Stan Brown, Oak Road Systems, Tompkins County, New York, USA
http://OakRoadSystems.com/


I "third the motion" from the other two guys.
The extended warranty has to be priced to make a profit. That means
that overall, the premium is way more than the overall cost of repairs
(spread over a lot of people). This is a kind of insurance, and you
only get it if you absolutely cannot afford the repairs on your own.
You have a fridge, freezer, washer, dryer, dishwasher, ad infinitum.
Add all the premiums up, and then add up all the repairs. You'll have
wasted extra money on the premiums.

If they persist, ask them "Whatsa matter? You expect it to fail?
Must be selling bad goods!"

  #5  
Old May 6th 07, 01:30 PM posted to misc.consumers.house
KLS
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Posts: 411
Default Lowes extended warranty for appliances - Any good?

On Sat, 5 May 2007 17:33:14 -0400, Stan Brown
wrote:

Sat, 05 May 2007 14:25:14 -0400 from R Kannan
:
We are thinking of getting an extended warranty upto 5 years for a
refrigerator that we bought from Lowes. Anyone with positive or negative
experience with Lowes Extended Protection Plan?


Extended warranties in general are a bad idea. That's particularly
true for "white goods".


True, with the exception of front-load washing machines, which are
worth buying extended warranties on since their transmission design is
favorable for breakage.
  #6  
Old May 6th 07, 02:51 PM posted to misc.consumers.house
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Posts: 192
Default Lowes extended warranty for appliances - Any good?

Sun, 06 May 2007 12:30:11 GMT from KLS :
On Sat, 5 May 2007 17:33:14 -0400, Stan Brown
wrote:
Extended warranties in general are a bad idea. That's particularly
true for "white goods".


True, with the exception of front-load washing machines, which are
worth buying extended warranties on since their transmission design is
favorable for breakage.


"Prone to breakage" does *not* make the extended warranty a good
deal.

Think about it. The appliance company is not going to sell the
extended warranty at a loss. Therefore if something is prone to
breakage, the extended warranty will be increased in price or reduced
in coverage so that it remains a good deal for the company -- which
means it is a bad deal for the consumer.

Now, all this is general principles. I don't deny that some companies
may occasionally underprice an extended warranty, just as some gas
stations sell milk below their cost to get you to purchase other
things. But you need to do the math and decide whether something is a
good deal based on (a) probability of breakage, (b) cost of repair,
(c) cost of replacement, (d) cost of warranty.

--
Stan Brown, Oak Road Systems, Tompkins County, New York, USA
http://OakRoadSystems.com/
  #7  
Old May 7th 07, 12:47 AM posted to misc.consumers.house
KLS
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Posts: 411
Default Lowes extended warranty for appliances - Any good?

On Sun, 6 May 2007 09:51:44 -0400, Stan Brown
wrote:

Sun, 06 May 2007 12:30:11 GMT from KLS :
On Sat, 5 May 2007 17:33:14 -0400, Stan Brown
wrote:
Extended warranties in general are a bad idea. That's particularly
true for "white goods".


True, with the exception of front-load washing machines, which are
worth buying extended warranties on since their transmission design is
favorable for breakage.


"Prone to breakage" does *not* make the extended warranty a good
deal.

Think about it. The appliance company is not going to sell the
extended warranty at a loss. Therefore if something is prone to
breakage, the extended warranty will be increased in price or reduced
in coverage so that it remains a good deal for the company -- which
means it is a bad deal for the consumer.

Now, all this is general principles. I don't deny that some companies
may occasionally underprice an extended warranty, just as some gas
stations sell milk below their cost to get you to purchase other
things. But you need to do the math and decide whether something is a
good deal based on (a) probability of breakage, (b) cost of repair,
(c) cost of replacement, (d) cost of warranty.


All points taken, Stan.
  #8  
Old May 7th 07, 03:57 AM posted to misc.consumers.house
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Posts: 2
Default Lowes extended warranty for appliances - Any good?

We bought a lawnmower from Lowes (for my mother-in-law) and bought the
extended warranty (as it was claimed to be all-inclusive, fix any
problem at all). Well... the mower broke (hard start/rough running)
THREE WEEKS AFTER WE BOUGHT IT and when she took it back they gave her
nothing but grief and wanted to charge her $25 to fix it. It was an
absolute debacle and took a few heated exchanges before they made right.

just my $0.02
/Tim
R Kannan wrote:
Hi,

We are thinking of getting an extended warranty upto 5 years for a
refrigerator that we bought from Lowes. Anyone with positive or negative
experience with Lowes Extended Protection Plan?

Any information is appreciated,

TIA

  #9  
Old May 7th 07, 05:07 AM posted to misc.consumers.house
mc
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Posts: 195
Default Lowes extended warranty for appliances - Any good?


"Tim Iskander" wrote in message
...
We bought a lawnmower from Lowes (for my mother-in-law) and bought the
extended warranty (as it was claimed to be all-inclusive, fix any problem
at all). Well... the mower broke (hard start/rough running) THREE WEEKS
AFTER WE BOUGHT IT and when she took it back they gave her nothing but
grief and wanted to charge her $25 to fix it. It was an absolute debacle
and took a few heated exchanges before they made right.


At 3 weeks there should have been a warranty even without the extended one.


  #10  
Old May 7th 07, 05:17 AM posted to misc.consumers.house
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Posts: 192
Default Lowes extended warranty for appliances - Any good?

Sun, 06 May 2007 22:57:03 -0400 from Tim Iskander
:
We bought a lawnmower from Lowes (for my mother-in-law) and bought the
extended warranty (as it was claimed to be all-inclusive, fix any
problem at all). Well... the mower broke (hard start/rough running)
THREE WEEKS AFTER WE BOUGHT IT and when she took it back they gave her
nothing but grief and wanted to charge her $25 to fix it. It was an
absolute debacle and took a few heated exchanges before they made right.


I'm sorry for your awful experience, but I hope you recognize that it
had nothing to do with a store-sold extended warranty. Within three
weeks it would surely be covered by the manufacturer's regular
warranty -- maybe, even, by the implied warranty of merchantability.

--
Stan Brown, Oak Road Systems, Tompkins County, New York, USA
http://OakRoadSystems.com/
 




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