EPISODE 42 ~ TOP TIP: Warranty: Don’t Be Fooled By Service Contracts Disguised As Extended Warranties

If somebody tries to sell you an “extended warranty,” keep in mind it’s not really a warranty and that it may NOT be extended either.  These deals are really service contracts, often offered by outside companies. Here’s the big question:  Does this service contract duplicate the protections offered by the regular warranty?  The word “extended” implies that it extends the period of the manufacturer’s warranty, but often these contracts kick in right away so they are in effect at the same time as the manufacturer’s warranty.  So be skeptical and keep in mind that less than twenty percent of consumers who buy service contracts ever use them.

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