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Tightwad Assignment – Should you buy an extended warranty?

(March 17, 2009) – When I worked in retail, the managers pushed us to offer extended warranties on our products.  To me, that was a sure sign that the store made a lot of money from them.

Think about it – paying a lot of money for a warranty on a relatively inexpensive product just doesn’t make sense.  The warranty is merely insurance.

Also ask how long the warranty covers the product.

If the warranty costs a substantial percentage of the purchase price of a new item, and the coverage is not very long, you’ll probably save money by passing on the warranty.

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