Should I buy extended warranty?

[phatmanmike]

Re: Should I buy extended warranty?

myoutboards- $1400 for those items is absurd. I know you do your own work and are very proud of it, your not just making that $1400 figure to push your thoughts upon others are you? Just curious is all.<br />

dead serious. i forgot to mention they were also gonna replace the ignition switch and reglue my flywheel magnets. dont forget, my motor has SIX carbs. its a 225 v6 omc<br /><br />labor was 1145 dollars and parts were only 300.

 

[cc lancer]

Re: Should I buy extended warranty?

Noted talk show host Clark Howard talks at least every other day about why you should NOT <br />buy extended warranties. <br /><br />I got burned a number of years ago by guess who,<br />my Ford Motor Company dealer. The fuel pump went out it was towed to the dealer. I though it was covered, nope, fine print about engine add on parts. I was charged $220.00 for the pump, and labor.<br />Sears is another one that pushes the heck out of extended warranties, they have an idea how long the item will last, and they make a killing off these warranties.

 

[mattttt25]

Re: Should I buy extended warranty?

i returned from out of town last night to have my wife tell me my $2400 laptop was dead and had a burnt smell. i am now frantically trying to remember whether i settled with the standard 1 year warranty or bought the extended 3 year warranty.

 

[DJ]

Re: Should I buy extended warranty?

JB Wrote,<br /><br />

<br />Tell me what organization would sell a product that was not profitable for THEM.<br /><br />Profitable for them means that you pay more for it than it costs them.<br /><br />

Not necessarily. Extended service contracts are great cashflow generators. They are not necessarily profitable, in the long run.<br /><br />The best bet is to make DARN sure that the plan you are buying is backed by the OEM, NOT an independent insurer. The OEM has a genuine interest in keeping you happy and returning for more products, parts and service. OEM's know that service plan purchasers tend to be much more loyal customers.<br /><br />The independent insurers could not care less and does not count on repeat business. <br /><br />I always buy them for big ticket items, like cars, boats, etc. The price is a very small percentage of the purchase price, as noted previously. PLUS, resale becomes a "no worries" affair for the next purchaser. I've always recouped the money on resale and made for a quicker sale.<br /><br />In addition, I can tell you from experience that should you run into an iussue that is not covered, the OEM is more likely to help than had you not TRIED to protect your investment.

 

[Johnshan1]

Re: Should I buy extended warranty?

I stand corrected myoutboards, it makes a lot more sense now that I heard the other info you spoke of, 6 carbs sounds like a gas guzzler! Sorry to doubt you, it just sounded like a crazy amount of money at the time for some shift cables and a a little tune up.<br /><br />-John

 

[markvan]

Re: Should I buy extended warranty?

Originally posted by DJ:<br />[QB] JB Wrote,<br /><br />

<br />Tell me what organization would sell a product that was not profitable for THEM.<br /><br />Profitable for them means that you pay more for it than it costs them.<br /><br />

Not necessarily. Extended service contracts are great cashflow generators. They are not necessarily profitable, in the long run.<br /><br />DJ - if a company is selling a product or service that is "not necessarily profitable in the long run" you get what is called A PRICE INCREASE. Name a succesful company that sells service contracts to simply generate cashflow not for profit. Company's are in business to make money, not for charity.

 

[delsol]

Re: Should I buy extended warranty?

hey ratfish , <br />bob over at darby creek pa.<br />i would not renew now about 2-4 months before it expires i will get at least 1 year where we live they rob us blind on outdrives etc. i would make sure its from the dealer the watt. you brought the boat from, so they fix it. i am you south fla. now and its a different world from ours 2k and you can find a nice little boat to run around in...i respect all the not to answers, but we live in an area where they kill us on rep[airs.<br />bob from philly<br />the companys are in it for a profit but you need peice of mine

 

[DJ]

Re: Should I buy extended warranty?

Walleye walker,<br /><br />I said, "not necessarily".<br /><br />I know how service contracts work. I represented one brand for years. And no, I won't mention which one.<br /><br />You miss the other points. For an OEM they also generate parts sales, owner loyalty (repurchase) and dealer loyalty. <br /><br />Again, not to mention cashflow, which is an asset. All of the above can be accounted for and have value.

 

[delsol]

Re: Should I buy extended warranty?

i as sorry dj <br />but being in the auto repair business for about 25 yrs i think it works both ways ower blows engine in car , dealer installs new engine.. in my case 6cly acura 5k plus job 1k watt fixed...they sell wat... we make a big profit.<br />but it somethings is a big investment to buy it...not on tvs vcrs most other stuff....this is my thoughts, DJ you are a fleet admiral in the navy i would be in the brig now.....joking. (total respect for all on this forum here to help and get help<br />bob in philly

 

[DJ]

Re: Should I buy extended warranty?

bobby,<br /><br />We don't throw folks in the brig for differing opinions. <br /><br />I'm also in the biz.

 

[delsol]

Re: Should I buy extended warranty?

i as sorry dj <br />but being in the auto repair business for about 25 yrs i think it works both ways ower blows engine in car , dealer installs new engine.. in my case 6cly acura 5k plus job 1k watt fixed...they sell wat... we make a big profit.<br />but it somethings is a big investment to buy it...not on tvs vcrs most other stuff....this is my thoughts, DJ you are a fleet admiral in the navy i would be in the brig now.....joking. (total respect for all on this forum here to help and get help<br />bob in philly