Are warranties of any use?

Santiago1_2

Hello.

Recently, I received as a present a small kitchen electrical appliance made by a known manufacturer. This comes with a 1-year warranty. The box also included a "guarantee card" which I am supposed to return within 14 days from purchase. Although the card does not clearly specify any benefits over and beyond what the 1-year warranty implies, it suggests that unless the card is returned within 2 weeks, the guarantee will not be valid? Should I just ignore this?

On a different but perhaps somewhat related issue, I have been loooking at purchasing a TV set. I identified a desired model at the website of a known retailer. The retailer offers (quite prominently) a 5-year warranty which normally costs 10% of the retail price of any item purchased (at a cost >£100). Obviously, the set comes with a manufacturer's 1-year warranty. Again, should I simply ignore the warranty offered by the retailer?

Many thanks

danthemoneysavingman

Personal choice I would say.

I took out a 5-year warranty when I bought my big expensive TV as I thought it was worth it, having no idea of hardware failure rates on such products. For peace of mind it was worth it.

As for "extended guarantees" (which I don't think you asked about but hey!) sold by firms like DSG, these are usu. overpriced and provide no additional cover over your home policy. Check things like excess, and whether losing your no-claims on home insurance would be more costly...

Santiago1_2

danthemoneysavingman wrote: »

Personal choice I would say.

I took out a 5-year warranty when I bought my big expensive TV as I thought it was worth it, having no idea of hardware failure rates on such products. For peace of mind it was worth it.

Is there a cut-off point for deciding on this? I mean, should my thinking be "If this piece of kit falls to pieces, will I have the money to buy a new one?" and if I answer yes, I should skip the warranty?

danthemoneysavingman

You'd have to buy it when you buy the appliance I guess, but I'm not an insurance expert! Ask the ppl selling you the product.
You simply set in your own mind how you feel about the possibility of (for e.g.) inverter failure within 2 years. I've no idea how much any such repair would be, but prob more than the warranty cost.

Note most insurance prodcts are priced to make them overall risk-averse, so at high level the answer would prob be "not worth it". But if your set falls in the (say) 5% failure group, which is to some extent random, then you'd probably be a bit peeved!

I don't think anyone else can help you make this decision tbh!

Best of luck

Santiago1_2

Thanks for your response. I wonder if the Sale of Goods Act would kick in if a TV set broke down after 18 months (without any additional warranty).

Esqui

It would. But outside of any warranty or service agreement, you have to prove that the fault was inherent - this is often quite a hassle. And the retailer would be quite within their rights to give you a partial refund - so if your £500 TV fails after 18 months, they could give you £350 back, with you having to add on the extra to replace your TV.

Santiago1_2

Esqui wrote: »

It would. But outside of any warranty or service agreement, you have to prove that the fault was inherent - this is often quite a hassle. And the retailer would be quite within their rights to give you a partial refund - so if your £500 TV fails after 18 months, they could give you £350 back, with you having to add on the extra to replace your TV.

I can see from your signature that you work for Currys. What would a retailer like Currys accept as a reasonable lifetime for a TV set? 2, 3, 5 years?

davester

Santiago1 wrote: »

I can see from your signature that you work for Currys. What would a retailer like Currys accept as a reasonable lifetime for a TV set? 2, 3, 5 years?

1 second after the TV left the shop if they had their way