An extended car warranty may help cover the cost of certain repairs to your vehicle when the manufacturer's warranty expires, but they're not for everyone. While it may sound like a good idea in theory, extended warranties often come with a high price tag and don't necessarily cover everything that could go wrong.
If your product cannot be repaired within a certain timeframe or it ends up just being cheaper to replace it, Best Buy will, with a product at the same price point as what you paid for your product. ... In my experience, these protection plans are only worth it if you're spending over $1500 on the product.
If you keep or lease your car for less than the length of your factory coverage, you do not — repeat, do not — need an extended warranty. If you plan on keeping your car until the wheels fall off, you might consider buying an extended warranty to cover repairs in the car's fifth and sixth year or longer.
The Good and the Bad of Extended Car Warranties
| Pros | Cons |
|---|---|
| Budgeting for repairs is easier | It's a risk |
| Extra perks are usually included | A savings account may make more sense |
| A warranty can actually save you thousands | It can be hard to find the right provider |
| Easy transfers and cancellations | You need detailed maintenance records |
Extended Car Warranty Cost
The average cost of an extended car warranty is $1,500. The exact price can vary widely between policies, however, usually falling between $1,000 and $3,000. There are several factors that affect how much an extended car warranty is going to cost.
Dealerships generally mark up the cost of an extended warranty, so there's room for negotiation. Factory-backed extended warranties are honored at any of the manufacturer's dealerships nationwide. Call different dealers to compare price quotes on extended warranties.
“The fact is, extended warranties are overpriced. That's the reason people sell them, because they make a bundle on them in commissions,” says a money expert and radio talk show host, Dave Ramsey. “I don't recommend buying extended warranties, ever.
If you are talking about the BestBuy warranty, it covers everything. For 2 years ask long as you bring even the majority of the broken headphones back they will exchange them or give you a store credit. ... Basically, if they stop working fir any reason, best buy will replace them.
If your small business doesn't have IT support on staff, you can use Geek Squad for help with software installation, computer setup and repair, and other tech support issues. Run by Best Buy, Geek Squad pricing for individual services costs $19.99 to $1450, while monthly service plans start at $24.99 per user.
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