Extended Warranty for Camcorder - yes or no?

Discussion in 'Odds & Ends' started by TripleB, Aug 30, 2009.

  1. TripleB

    TripleB Hall of Fame

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    Getting ready to purchase a new camcorder for around $360.

    Should I get the 3 year extended warranty for $67?

    "The SAGEMAX Protection Plan covers your camcorder from failures due to normal wear-and-tear, defect in material and/or workmanship, mechanical and/or electrical breakdowns, as well as accidental damage from handling. Other benefits include free 2-way shipping to the NEW service facilities, free 24/7 toll-free phone support, price protection, and zero out-of-pocket expenses."

    Thanks for all advice.

    TripleB
     
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  2. cucio

    cucio Legend

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    Doesn't seem very wise. In three years for that price you'll have better equipment available in the market. In the worst case with those 67$ plus three years interest you will be able to buy the very same model second-hand from any chap willing to upgrade to a new one.
     
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  3. r2473

    r2473 Legend

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    "Extended warranty. How can I lose?"
     
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  4. Steady Eddy

    Steady Eddy Hall of Fame

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    Never pay in advance. If you need to fix it or replace it, cross that bridge when you get there. You might be able to fix it for less? You might even be able to replace it for less! (Don't scoff, technology moves quickly). Also, they might not honor the warrantee. They'll say it doesn't cover labor, or it doesn't cover parts, and that you misunderstood the contract. (They always know the fine print better than you.) Or, (if it was me), you'll misplace the warrantee and they'll be in no hurry to help you.

    Their salespeople make much better commissions if they sell the warrantees, (think there's alot of profit in them?) Just buy the camcorder and go.
     
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  5. hollywood9826

    hollywood9826 Semi-Pro

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    They make a killin no the warranty. That device probably costs the store 150 bucks at most. so for 1/2 the price of thier cost they are basically gambling 3 people take the warranty and 1 breaks down to break even. If it was a 5000 dollar com then yea for 67 bucks it may be worth it. but for a 1/4 of the price i would take my chances.
     
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  6. mtommer

    mtommer Hall of Fame

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    No. For the love of God, NO!!!! Extended warranties are one of the biggest retail scams out there.

    First, the warranty coverage coincides with the mfg's warranty so you're paying for warranty coverage that comes free. Somtimes the mfg's warranty is longer than a year.

    Second, it completely depends upon the servicing house that covers the warranty, the store does not. They may have "gone out of business" and started up under a new name.

    Third, the store needs to be in good standing with the warranty place.

    Fourth, as already mentioned, extended warranties are nothing but pure profit margins for retail stores. There is almost always something not covered and it's usually the thing that is prone to breakdown the most like internal memory or hard drives. There are also a lot of parts that are branded with other manufacturer names and those "must be dealt with by that manufacturer because we don't have an agreement with them" or some other such nonsense.

    Fifth, for the warranty issues that do qualify you're product often gets stuck in a "repair shop" for a couple of months. Most people just end up buying a new unit because they don't want to deal with the hassles and wait time.

    The only time a these extended warranties would ever be worth their money is if you could walk into the store with a known qualifying warranty issue and walk out with a brand new product.
     
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  7. angharad

    angharad Semi-Pro

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    I've never regretted buying an extended warranty, but I'm pretty hard on electronics. I had to replace the hard drive, screen, optical drive, and motherboard on an old laptop - and that cost me nothing*. On my first digital camera, I had to get a new one because of an incident with water - and that cost me nothing*. Power surge that took out my flat-screen tv? Cost me nothing*. Returning a two-year-old gadget and getting the full purchase price back (less warranty) was pretty nice, too.

    * - beyond the small amount the warranty actually cost

    Look closely at the terms of the warranty, though. Many will not cover certain things, and the warranty can actually be a PITA when it comes to small problems, because fixing them yourself might void your warranty.

    Also check to see if the warranty kicks in after the manufacturer's warranty is up, or if it starts immediately. Buying protection for when it's still under the manufacturer's warranty is a bit ridiculous.
     
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  8. NickH87

    NickH87 Semi-Pro

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    I sold the extended coverage plans at the job I just quit but it was very different with my store. We would tell people instead of shipping the product out to the people who fix them, to just bring it back to the store with the receipt and we would just replace it all together. Thats a great deal because we always honored that policy even though it wasnt in the booklet. But it also is kinda of weird because what if management is replaced and the new ones dont honor that ect ect.

    A good thing to do would be to check the reviews online, see what they say. Consumer reviews that come from customers will likely tell you what broke for them and make your decision from there. Find out how much replacement parts are and go from there. Thats how I sold my extended plans, I did research for them, printed it out, put it in a folder and showed it to them and let them make the decision based on that and not the little booklet.
     
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  9. Deuce

    Deuce Banned

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    Dude... have you ever made a decision on your own?
    Your record on this board for asking the advice of strangers for simple, everyday, common decisions is unenviable.

    Someone your age (mid to late 30s?) should definitely be able to make these simple decisions on his own, without consultation - especially without consulting a bunch of strangers on an anonymous internet message board.

    If this keeps up, it won't be long before you ask us what colour socks you should wear... and even ask us if you should put up a certain post!

    Show some security, man - some self-confidence - and make a decision on your own, already...
     
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  10. stormholloway

    stormholloway Legend

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    It's a well known scam, the extended warranty. Half the time when the salesman asks if you want it, you can see in their demeanor that they know it's BS. I've wasted my money on a couple in my time.
     
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  11. woodrow1029

    woodrow1029 Guest

    Couldn't just answer the question or just stay out of it? Once again, you have tried to ruin and corrupt another thread with your immature and manipulative behavior.

    Now, to the original question seeking advice. On camcorders and other handheld devices where the protection plan states "covers accidental damage," I would highly recommend purchasing the protection plan. This covers a broad spectrum, and handheld devices can either get knocked out of your hand, dropped, stepped on if left on the ground. Lots of things can happen to it. Also, if it has an LCD screen, the protection plan (probably) covers it, where the manufacturers warranty often time doesn't cover it for more than 90 days.
     
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  12. 35ft6

    35ft6 Legend

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    Yeah, extended warranties are gravy for the retailer, and this is one of the most useless things about them. But in some instances, if, for example, you had a TV, and it came with a 2 year warranty, and the retailer allows you to buy the extended near the 2 year mark, it might not be a bad idea. A 1080p TV should be worth keeping for 5 or so years. A camcorder, probably not so much. Technology is progressing with camcorders very quickly. Call the manufacturer. I know when I bought my Sony cam, there was a service available where you pay Sony to fix your camera for very low price.
     
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  13. woodrow1029

    woodrow1029 Guest

    There is a difference between an extended warranty and a service or protection plan.
     
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  14. Deuce

    Deuce Banned

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    ^ Haven't I told you that I'm NOT going to marry you, woodie - no matter how much you obsess about me?

    You are clearly the one who has zero self discipline and cannot keep from passing your peanut gallery cheap shot comments to my posts. You've done this dozens upon dozens of times - 'coming to the rescue' of others (who certainly have not asked you to 'rescue' them).
    But this is expected of someone of such arrogant ilk as yourself - you need to ride in on your white horse to defend everyone as if they are terribly feeble and incapable of defending themselves. This is arrogant and insulting on your part. You must 'defend' others - but not without first twisting it into a situation where they 'need' 'rescuing' from the 'bad' person.
    Your desperate need for attention and to be the 'hero' is more than childish - in an adult, it's extremely unhealthy - and quite sad.

    As for BBB, he's posted dozens of threads just like this - asking for 'advice' for simple, everyday situations. Rather than make these everyday decisions on his own, he asks for the advice of strangers. That rather strongly indicates a lack of confidence in his own decisions - and I don't want to encourage that lack of confidence.
    BBB is not a child. He is a grown adult, and it would be beneficial for him to accept that responsibility, rather than ask others how he should live his life, as he often seems to do here.
    I think he'd be much better off if he'd develop the ability to make these decisions on his own, without endlessly consulting others; to stop second guessing himself and develop some confidence in his own judgment.
    Only by making decisions on his own - and learning that he can make good decisions - will the self-confidence develop.

    Your urinating on my posts isn't going to change anything one way or the other, woodie. Except to reveal yourself for what you are, of course.
     
    Last edited: Aug 31, 2009
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  15. TripleB

    TripleB Hall of Fame

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    Yea, but if I didn't post threads like this then I would have no way of 'getting under your skin' and making you go on random rants that obviously makes you look rather childish. Which is obviously one of the unexpected highlights of me posting questions like this...and it does seem to be working out very nicely doesn't it!?! :mrgreen:

    Thanks to everyone for the advice...I'm going to go with the SquareTrade ( http://www.squaretrade.com/pages/ ) 3 year $49.99 'extended warranty'. May never need it but it gives me some piece of mind for $25 a year (after the original warranty runs out).

    TripleB
     
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