Frequent Contributor
Posts: 364
Registered: ‎08-23-2011
Re: Best Buy Camera extended warranty help

Good that you got a credit at least. However with extended warranties you are really only insuring that particular model of camera, not a price. I see lots of articles about Best Buy on the consumerist and they are not very flattering.


I always decline the extended warranty when offered. It is almost pure profit for them and very rarely do you ever get anything out of it. I bought a camera at Best buy last year. I just needed a simple digital camera to take on vacation so I would only use it maybe 3-4 times a year. Found a decent one for 110 dollars and the sales rep just aggrivated me to no end when he tried to sell an extended warranty to me. For "only" 60 dollars more I could buy a warranty and they would replace the camera if I broke it. Sounds great huh?


Why in the world would anyone want to pay for an extended warranty that costs almost half the price? Jeeze if I am careless enough to break it I could just buy another one it is not that expensive.


Pushy sales rep would not take no for an answer until I flat out told him I can not afford the warranty. This was back when I only had a debit card and I had just barely enough in my account for the camera and the trip expenses. Seriously 60 dollars would have overdrawn my account and if I did buy the camera with the warranty, I couldn't afford to go on the trip anymore, which was why I was buying the camera in the first place.


I read a great tip on the consumerist once. As a general rule the harder a sales rep pushes something on you, the more beneficial it is for them and least beneficial it is for you.


Also a big reason why extended warranties are such huge profit grabs for businesses like you found out the warranty only applies to the item itself, not the price you paid. That top of the line camera/computer/tv, etc now will be basic cheap stuff by the time the warranty wears out. If someone does break or damage their product the store is banking on the fact that the person will just be tempted enough to buy another top of the line product and thus pay for another item and purchase yet another warranty.

FICO Scores: TU: 768 (Jan 2012), EQ: 755 (Jan 2012 Lender pull)