topic Re: Opinions on Contracts in Community Chat

Opinions on Contracts

Jordan2 — Sun, 18 Aug 2024 14:50:57 GMT

I'm looking to replace my 12 year old HP printer. I saw an HP printer I like for $140, my question is do I really need to spend about $24 for a 3 year contract? I can see taking out a contract for large appliances and on tvs, computers, and such, but is this really necessary?

Re: Opinions on Contracts

CrazyDaisy — Sun, 18 Aug 2024 14:55:29 GMT

I have not ever bought a contract. Really saw no need.

Re: Opinions on Contracts

m0rgan — Sun, 18 Aug 2024 14:59:28 GMT

My husband would say no. When you buy a new printer you do have a warranty for a period of time anyhow and that would be doubling the warranty. Usually the warranty is good for at least one year. The money you pay each year could be saved and put toward a new printer should you need one. These warranties are a gimick and mostly not needed. We never get an extra warranty on anything large or small.

Re: Opinions on Contracts

SilleeMee — Sun, 18 Aug 2024 15:06:53 GMT

No.

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Carolina925 — Sun, 18 Aug 2024 15:07:42 GMT

My smartphone is coming up on its 2nd birthday, usually time to think about replacing it. Got a letter from the insurance company associated with it saying the cost would go up beginning in October. After doing some research, two years too late, I see that the cost will go up from my current $18/month. This covers loss of phone, cracked screen, etc. When I got the phone, I said "yes" to everything they wanted to add; a mistake on my part.

Getting a contract on a printer that's pretty much a throw-away item isn't smart, IMO. As someone else said, put that money aside and use it to get a new printer when the time comes. Everything I purchase now seems to have a contract attached; I think it's a money scam.

Re: Opinions on Contracts

JeanLouiseFinch — Sun, 18 Aug 2024 15:28:38 GMT

On larger purchases, it's one thing and sometimes maybe a good idea. On small appliances and such, they come with a warranty but are also considered disposable, in some degree. I wouldn't bother on a $140 item.

Re: Opinions on Contracts

Shelbelle — Sun, 18 Aug 2024 15:16:36 GMT

Re: Opinions on Contracts

mrshckynut — Sun, 18 Aug 2024 15:17:47 GMT

waste of money

mrshckynut

Re: Opinions on Contracts

deeva — Sun, 18 Aug 2024 15:26:27 GMT

Warranties are pure profit for the company. Salespeople get a percentage of every warranty they sell.

I just laugh when they say I'm protecting my investment. Anything that depreciates is not an investment.

I don't buy warranties for anything.
Just take the money you'd spend on a warranty and save it.

Re: Opinions on Contracts

ALRATIBA — Sun, 18 Aug 2024 15:31:45 GMT

For computer, printer, TV etc .... I buy all my "electronics" from Best Buy and have their "Total Tech" coverage for everything.

It's worth it for me.

Re: Opinions on Contracts

Jk9 — Sun, 18 Aug 2024 15:48:16 GMT

Re: Opinions on Contracts

CrazyDaisy — Sun, 18 Aug 2024 19:02:37 GMT

@ALRATIBA wrote:
For computer, printer, TV etc .... I buy all my "electronics" from Best Buy and have their "Total Tech" coverage for everything.

It's worth it for me.

Have you ever used it?

Re: Opinions on Contracts

PA Mom-mom — Sun, 18 Aug 2024 19:15:47 GMT

@Jordan2 You may want to research other options for your printer. That price sounds high. Printers are usually a throw away price for the company so they can sell you the ink. I think we paid under $85.00 for the last printer we bought. It's an HP wireless. I think we bought it at Costco.

And, no need to get a contract for sure.

Re: Opinions on Contracts

tansy — Sun, 18 Aug 2024 19:39:17 GMT

It has always seemed funny to me that a salesperson touts how great the product is and then when you decide to buy the hard sell for a contract starts:/

Re: Opinions on Contracts

RedTop — Sun, 18 Aug 2024 19:44:46 GMT

Another NO.

Re: Opinions on Contracts

Jordan2 — Sun, 18 Aug 2024 22:12:42 GMT

@PA Mom-mom I don't buy printers often, the only one I bought lasted me 12 years ( they discontinued the model). I want one that scans, prints, and copies. It has to automatically do double sided printing, automatically feeds, and I want a LCD touchscreen that you can see how much toner is left, shows the printing and more, some have dual band Wi-Fi. Some printers don't have the screen which is a deal breaker for me.

Re: Opinions on Contracts

Melzie — Mon, 19 Aug 2024 13:41:44 GMT

No. Not worth it for an item that costs only $140. Contract would probably expire before the printer does.

Re: Opinions on Contracts

ALRATIBA — Tue, 20 Aug 2024 02:20:26 GMT

@CrazyDaisy wrote:
@ALRATIBA wrote:
For computer, printer, TV etc .... I buy all my "electronics" from Best Buy and have their "Total Tech" coverage for everything.

It's worth it for me.
Have you ever used it?

Yes, several times. House calls, telephone assistance and in-store service.

Re: Opinions on Contracts

Jordan2 — Tue, 20 Aug 2024 13:36:11 GMT

@monicakm if you don't mind me asking, what model printer did you buy and where (I haven't purchased a printer yet)?

Re: Opinions on Contracts

gardenman — Wed, 21 Aug 2024 12:36:32 GMT

Most devices have what's called "the bathtub curve" when it comes to failure rate. If you look at the cross-section of a bathtub there's a steep part at the end then it stays flat for an extended period of time before gradually tapering back up. (you can Google "bathtub curve" to see examples of the curve.)

The highest failure rate is the steep initial part of the curve when manufacturing defects, damage in transit, etc, take place. That's almost always the part of the curve covered under the manufacturer's warranty. The long flat part (bottom of the curve) when nothing is likely to go wrong is when they want you to buy an extended warranty. By then anything that's likely to have happened will have happened and your device should be relatively trouble-free during that stretch. The long gradual slope up at the other end of the curve is when the device ages out. If you've been buying an extended warranty through the flat part of the curve you've likely already paid for the replacement via the warranty cost, or more.

Now, if you're buying a phone, tablet, or laptop, and you're the clumsier type who tends to drop anything and everything, an extended warranty that covers drops could be good. Just read the fine print. Many only cover one drop. And reading the fine print on anything is wise. Many service contracts include pro-rating where they devalue the device each year you own it. In year one or two they may give you full replacement value. As the device ages, the replacement value can drop a lot.