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Moneywise

Why extended warranties for new tires are a waste of money

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  • george of the jungle goshen, UT
    June 23, 2013 12:02 p.m.

    My wife does not like to take risk. She must of been out of her mind to marry me. But as fat as tires go, I don't buy used tires. I go to a place that offer free flat repair and has a good reputation, and has earned my trust.

  • Willybee71 GARDEN CITY, NY
    June 22, 2013 12:39 p.m.

    Backing into an unshoveled driveway to allow a plow rig to make a full clean pass, I hit a curb hard and caused tear in sidewall at 2300 miles. Replacement under the "road hazard warranty" after pro-rating (which is not just a straight percentage of guaranteed mileage), along with new valve stem, disposal cost, and Taxes ran just about $60, and three hours wait, even after making an "appointment". And that's not with the new wireless pressure sensor valves, which they insist to replace each time at a cost of $50-75 !!

    I truly believe that extended warranties, particularly for electronics, are calculated using MTF data (Mean Time to Failure), and that given the competitive pricing atmosphere, account for more than half of a Retailer's total profit margin. When comparing prices, one must not only take into account cost of Warranties desired, but the competence and expedience of the Service Department.

  • Red Salt Lake City, UT
    June 22, 2013 10:26 a.m.

    Go after all the insurance scams out there. This is great.

    America is getting fleeced by insurance companies. We have such a paranoid society now.

    Everyone wants protection from everything even when it doesn't make sense. Which is usually the case.