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Extended Warranty on LG Washer/Dryer Set from Fry's?

MadPup 3,540 August 9, 2015 at 08:02 PM
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Last Edited by MadPup August 9, 2015 at 08:10 PM
I bought an LG washer and dryer set from Fry's this weekend. The 5 yr extended warranty on the dryer is $219 and they don't offer an extended warranty on the washer "because things only ever go wrong with the dryers". laugh out loud I bought the items using my Amex Blue which should give me an extra year coverage on the products' 1 year warranties but I'd like longer. Reading around the web I see that various sites (including Consumer Reports) recommend not buying an extended warranty. I'm wondering what the Slickdeals opinion is? Forget the warranty and play the odds, or go with Squaretrade (with coupon), or maybe pay for LG warranty (which will be just another 3rd party)?

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#2
Self insure, extended warranty on an appliance, especially at that price is a complete waste of money.
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#3
places sell warranties because they profit on them, not you.

if you're really hard on for it try squaretrade - have you checked the prices?
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#4
Quote from Dr. J View Post :
places sell warranties because they profit on them, not you.

if you're really hard on for it try squaretrade - have you checked the prices?
Squaretrade is $139 per appliance for 5 years. If one thing for either appliance goes wrong in that time that requires a callout then I think I would be lucky to pay less than $278. The big question is, what are the odds of that happening and is it worth playing them.

In general I'm no fan of extended warranties but they are essentially insurance. The basic premise is that many people pay a small amount of money in order to pay the large expenses of a few. Of course the insurance company make a profit... are you suggesting that they shouldn't?
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#5
lg goes wrong on washers after about 3 years

if its a sealed drum washer its cheaper to buy a new one


if buying lg I would buy warranty

http://www.consumeraffairs.com/ho...chine.html



I read somewhere if you buy an extra warranty the credit card does not cover you for the extra year
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#6
My suggestion was going to be almost verbatim what tennis8363 said. Extended warranties are bad buys. The math simply does not work. Not to mention, warranty companies are notorious for not paying claims or (for some of the shady ones) even doing bust outs (taking many people's money then going out of business).

Instead, save your money and simply pay for the repair or replacement out of all the money you save through the years from not buying extended warranties.

You've already done the two smartest things you could have done: 1. consult Consumer Reports for which washing machines and dryers are the most reliable (actually, I'm assuming you did this) and, 2. made the purchase using a credit card that offers an extended warranty.
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Last edited by Brian1 August 10, 2015 at 09:15 PM
#7
I use to believe in what people say... never buy a warrantee, it is a rip off.

Now I buy warranties for appliances and tires. Just for piece mind.

I have a LG washer and LG dishwasher. Dishwasher really broke after one year.

And I called LG twice for the washer. Was told that we were using to much soap, so we used less soap. Called a second time, was told we are still using to much soap and not to use ALL (so we switched to Tide).

I also called to fix my fridge but it was in the first year (ice maker broke).

Regarding Tires... I have used it many times.
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#8
I have an LG washer and dryer. I hate the washer and wish I bought a warranty for it. I only buy warranties for certain things and have used them every time I bought one. The person who told you that only the dryers have problems is full of it. I know two other people with LG sets and both get error codes with the washers and the dryers are perfectly fine.They don't offer a warranty with the washer because they were probably losing their shirts over warranty work.

I could not agree more with the suggestion to use a credit card that offers a warranty or use square trade.
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#9
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#10
Check appliance repair forums at FixitNow, GardenWeb, ApplianceJunk, etc., and YouTube videos can be very detailed. Some factory repair manuals can be downloaded free. Most repairs are simple, and actually the worst repair on a front loader may be easier than for a top loader (involves drum removal). Apparently unless you have a washer known for being a lemon, like LG's combination washer & dryer (put in dirty clothes, take out clean, dry clothes from the same drum), an extra-cost warranty isn't worthwhile. OTOH $139 for a 5-year SquareTrade warranty that covers everything (no deductible or trip charges) may be worthwhile.
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#11
I used to feel the same about appliance warranties. But they seriously don't make washers and dryers like they used to. My parents had their old Maytags for 25 years. These days they'd be lucky if they got 8 - 10 years use out of a set.

I had a Maytag washer that I replaced almost every part that was possible to replace. The thing kept breaking down. I spent more than the thing was worth trying to keep it running, and it was mechanical, with no computer/electronic panel.

So I buy warranties now for major appliances. Of course my 6-year old Samsungs (that replaced the Maytags) have been champs, and never needed a thing... but if they did, I know repairing them would be expensive simply because of the electronics involved.

If I were you, I'd get the Square Trade warranties. And I think the salesguy at Frys was lying to you - if they aren't selling warranties for washers, it would be because everyone claims on them and they are not profitable for the company. Not because nobody uses them (that's the ideal circumstance for a warranty company cuz then they keep all the money they take in as profit).
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#12
Commissions for extended warranties can be as high as 70% to 80%. That is all you need to know.

That is why they get pushed so hard.
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