Global Nerdy has a post about extended warranties and why you should avoid them. I learned a variant of this lesson recently - my mobile phone broke, which should have been good news, since I actually bought the extended warranty. I don’t usually buy those things, but my purchase at the time was due to my previous phone going through the laundry, which meant there was a chance that the “bathtub curve” (follow the link) would be too literal at some point.
So yeah, my phone broke, I took it in, and they’re fixing it for free. I win, right? Heh…
I’m picking the phone up tonight. I dropped it off for repair a month ago, to the day. The loaner they gave me (after I begged them) didn’t work. I’ve been without phone service for the number that’s on my business cards for a month (at least it’s forwarded). So, take the $75 or so for the warranty, the $50 or so for the monthly bill that I didn’t get to enjoy, and an incalculable sum for the aggravation, and then compare that to the cost of a replacement phone. eBay suggests that Motorola V551s are going for around $70.
In other words, don’t be like me! Remember to account for depreciation and the cost of an outage before going for an extended warranty!
…Now what are the odds they fixed BOTH problems I reported?
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