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    Should I Buy Extended Warranty On Washer And Dryer?

    Should I Buy Extended Warranty On Washer And Dryer?

    When you buy a washing machine, dryer, or any other large appliance, it’s not uncommon for retailers to try to sell you an extended warranty meant to provide you with coverage beyond the manufacturer’s original warranty.

    When you have the warranty, you pay nothing if you need to undertake appliance repair or replace the unit.

    When homeowners are in this situation, you will hear them asking, should I buy an extended warranty on the washer and dryer?

    The answer to this question is no. You shouldn’t buy the extended warranty. This is because, in most cases, you end up not using it, so you lose money. A study by Stanford University showed that most modern appliances are reliable, and most won’t break down within the warranty period.

    The study went further to show that even if the appliance broke down, the repair costs are often much lower than the warranty cost, so you lose money if you buy the extended warranty.

    Extended warranties are moneymakers for retailers, so avoid them as a homeowner. However, if you feel the warranty is right for you, don’t go for it blindly. Instead, do the following:

    Before you commit yourself, first take time to understand what the manufacturer’s warranty contains. Carefully go through it and pay attention to how long it lasts, what it covers, and whether the company will repair or replace the appliance or refund the money when it breaks down.

    Some companies will repair the appliance even after the warranty period has extended…

    Read more…

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