Warranties - are they worth it?

[admin_exported]

I am looking at ordering a Sony 40W4000 which I can get from Teleworld for £839.00 with free delivery and the standard one year warranty - sounds a bargain!!

There are other offers around on the web offering 5 years free warranty if you buy in-store.

I am sure you all know whats coming next - the cost of the TV is nearly £175 or more in store. So the "free 5 year warranty" is not really free!

My question to all you good people in the know out there is this - considering this is a A) a Sony and B) LCD which I guess is relatively new technology - is the extra cost for the 5year warranty really worth it?

Any thoughts, comments, previous experience trying to claim on warranties would be much appreciated

Cheers

 

[Anonymous]

According to research, statistically, buying extended warranties don't make financial sense. Products are more likely to fail within the 1st year if they are defective.

 

[SpiceWeasel]

For peace of mind you could always ask John Lewis for a price match. Most people match with Sound and Vision in Bolton. Not only will they match the lower price but you get a free 5 year warranty.

 

[John Duncan]

You beat me to it while I was checking JL's price (£999). Service is second to none as well.

 

[Anonymous]

Thanks guys, unfortunately JL don't do a finance option otherwise I would be straight down there. I have had warranties on all sorts of electrical goods before but never yet needed to use the warranty - methinks I've answered my own question there doh!

 

[John Duncan]

Teleworld's finance option is incredibly expensive compared to, say, John Lewis's partnership card. Just fyi. I am not regulated by the Financial Services Authority.

 

[Anonymous]

Yep, totally agree - it is 29.8% APR. However they are currently doing a 'buy now pay later - interest free - no payments for 12 months' option for a 3.5% set up fee - the finance is with Barclays so provided you pay the balance on the nose of 12 months then you pay no interest.

 

[SpiceWeasel]

I bought my 42" PZ85 Pany from www.tribaluk.com as I wanted the 0% 12 month deal. After doing more googiling than is propably healthy I choose them as they had the cheapest extended warranty's. I've got mine with an extra 2 years of warranty, although if I had of known about JL before hand I would of been tempted to get a loan and get the free 5 year warranty.

I paid around £1200 for mine with a 3 year warranty inc delivery. Alot better deals about now though so best to get googiling for the best deals. Oh and the clincher was that the finance company they use only charge you £20 admin fee when you pay it off. Some other's wanted £75.