Purchase Extended Warranty

Refurbished Products - Should I Protect My Purchase With an Extended Warranty?

The key difference between new and refurbished products is the warranty that comes with it. Many times the original manufacturer warranty is at least one year, while refurbished items will have warranties of 90 days or less. Buying a refurbished item allows the consumer to save a significant amount on the purchase price; however, the warranty guarantee of the refurbished item may cover a shorter period of time and the consumer should consider this as a potential extra cost. If an item breaks down after the short warranty period provided, the repair cost may be significantly higher than any savings made on the initial purchase.

To protect an investment in a new product, a consumer may want to consider purchasing an extended warranty. The warranty extension will protect the consumer once the original manufacturer warranty expires. In the event of a problem, the consumer can rest assured knowing he/she is protected.

Buyer beware! Consumers looking for a deal on a refurbished item should remain cost conscious because many store bought extended warranty plans for refurbished items are overpriced. At the local retail store there is a reason why the agent tries so hard to sell extended warranties: they are over priced. A common misconception is that extended warranties need to be purchased at the time of sale. This is simply not true. Extended warranties can be purchased as long as 90 days remain on the original manufacturer warranty. For refurbished products, as long as there is a 90 day original manufacturer warranty attached to it, an extended warranty can be purchased after the sale. To save money, Purchase Extended Warranty plans that have identical warranty protection from an online provider at a significantly cheaper price compared to the plans purchased in stores.

Ultimately the decision on whether to Purchase Extended Warranty protection must take into account the cost of the product, the expected useful life and how much risk you are willing to accept.