8) Extended Warranties
An extended warranty may sound like a good idea when you’re buying a big-ticket item, but they usually aren’t worth the cost. Often, repairs will cost less than the price of the warranty. Items also often break after the warranty is over, and you’ll end up having to pay for them on your own anyway. Consumer Reports says that before you sign up for an extended warranty, you should always carefully read through it. Also, ask the retailer you’re buying from questions about what repairs it covers. If you find the warranty to be inadequate, it’s best not to purchase it. Before purchasing, it’s also a good idea to read through some reviews and see what other buyers have said about the seller’s warranty. These reviews will give you a good idea of if the extended warranty is worth the cost.
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