Should I Keep the Performance Service Plan

[Fox]

I recently bought a 47 inch LG TV from Best Buy.

Normally, I would never buy their service plan - but I made an exception this time. The guy offered the 4 year for $209. I eventually negotiated it down to $109 for the 4 year service plan.

According to the Best Buy website, you have 30 days to "return" the service plan. Any thoughts? Have any of you ever made a claim on the Best Buy PSP? I've heard mixed reviews.

[number84]

Normally you are not supposed to buy those extends warranties. But at $109 for essentially 2 more years (assuming 1 yr manufacturer warranty and 1 yr top up from credit card) I would probably get it for peace of mind.

[Fox]

Yes, my card has purchase protection on it, so I'm essentially looking at a 2 year warranty without it.

For the extra 2 years, plus the potential for a little less hassle, I went for it. But Best Buy has a way of turning things into a hassle. :)

[Hunter316]

If you do use the warranty then you should probably expect to be let down by Best Buy however if you try to return it they will then most likely try to charge you the full price for the TV since they would have taken the money of the TV and not the plan. It could be a battle either way.

[CorSter]

Pretty sure LG TV's have a 2 year warranty (they did a year ago when i worked Home Theatre).. your credit card would extend it to a 3rd year.. is it worth $109 for one year?

actually... scratch that... i'm told they no longer come with a 2 year.

at $109 i'd probably keep the PSP.

[mystery]

I vote that you return the PSP. If you really want more warranty, get it directly from the manufacturer. Why pay extra for more hassle through a middleman?

Another way to look at it, is you could probably put the cost of the PSP towards a TV of a better make/reputation that may be more reliable in the end.

[darkprince]

LG gives a 2 years warranty.

So return the PSP regardless

[CorSter]

LG gives a 2 years warranty.

So return the PSP regardless

I dont think their newer sets have 2 years anymore.

[Chrispy]

One thing to look at...as I know this from previously working at FS.

Sometimes the sales reps will 'discount' the cost of the TV to get you that 'reduced' cost on the PSP.

If you return the PSP, they will increase the cost of the TV - just something to consider. All this aside; you may be very lucky and will get a stupid CSR who will just return it; but when there's a PSP being returned, usually a manager gets involved.

[TheRide]

LG gives a 2 years warranty.

So return the PSP regardless

Incorrect, the OP purchased an LG LCD TV which only comes with 1 year manufacturer warranty.

Plasma's come with 2 years warranty.

[emmpeethree]

when purchasing extended warranty, think about it this way:

it's like insurance - by purchasing, you are betting that your tv WILL break in the next 4 years. the house (FS) is betting it WON'T break

we all know the house always wins.


on an item like a TV, i would skip it. no moving parts, not much to worry about. have you ever had a TV break down on you when it wasn't your fault?

on something like a laptop/appliance or item that is prone to breaking, the warranty may be a worthy investment.

[darkprince]

Incorrect, the OP purchased an LG LCD TV which only comes with 1 year manufacturer warranty.

Plasma's come with 2 years warranty.

Really? I guess i got lucky my LCD came with a 2 year warranty

[romano]

Our 37" Toshiba Regza died just after the 1 year mark. Extended warranty kicked in, and TV was replaced with a 37" Sharp Aquos 1080p after only one technician service call.

For $109, I'd 100% keep it.


when purchasing extended warranty, think about it this way:

it's like insurance - by purchasing, you are betting that your tv WILL break in the next 4 years. the house (FS) is betting it WON'T break

we all know the house always wins.


on an item like a TV, i would skip it. no moving parts, not much to worry about. have you ever had a TV break down on you when it wasn't your fault?

on something like a laptop/appliance or item that is prone to breaking, the warranty may be a worthy investment.

[mystery]

Our 37" Toshiba Regza died just after the 1 year mark. Extended warranty kicked in, and TV was replaced with a 37" Sharp Aquos 1080p after only one technician service call.

For $109, I'd 100% keep it.

If you put it on a qualifying credit card, your warranty would have been extended one year at no cost.

[Fox]

Just to go over a few facts:
- The TV has a one year warranty
- My credit card extends the warranty to 2 years.
- I bought the TV for $900.
- I went back to Best Buy to do an exchange on the TV (for an identical TV) because of a defect. This is when I bought the service plan. It shows up on my new receipt as $800 for the TV plus $209 for the service plan - therefore, $109 in extra cost. I'm assuming if I return the plan I would only get the $109 back.

A deciding factor for me is the hassle that people have experienced in actually making claims on the service plan. If I thought it would be easy, that would convince me to keep it.

[romano]

If you put it on a qualifying credit card, your warranty would have been extended one year at no cost.

That's beside the point. His question was, "have you ever had a TV break down on you when it wasn't your fault?". To which the story spells out that yes, TVs can break down through no user fault.

The OP is not debating an extra year of protection, which could come from a CC. It's $109 for 2year (1year manu+1year CC) vs 4year (PSP). Well worth it IMHO.

[slim_shady]

That's beside the point. His question was, "have you ever had a TV break down on you when it wasn't your fault?".

Not even close, where do you see that question? This thread is about whether it's worth keeping the 4-year $109 service plan or using the free 2-year credit card warranty.


The OP is not debating an extra year of protection, which could come from a CC. It's $109 for 2year (1year manu+1year CC) vs 4year (PSP). Well worth it IMHO.

In your example, you came out behind by paying for the coverage. You would have been eligible for free credit card extension instead of paying for coverage. What's worse for you, is when BB or FS replaces the product, any service plan you had previously purchased is finished no matter how much time is left. You were no further ahead than someone who got the free credit card coverage. If that's "well worth it", then we've got different definitions.

[romano]

Not even close, where do you see that question? This thread is about whether it's worth keeping the 4-year $109 service plan or using the free 2-year credit card warranty..

Um, post #14. Try reading?


In your example, you came out behind by paying for the coverage. You would have been eligible for free credit card extension instead of paying for coverage. What's worse for you, is when BB or FS replaces the product, any service plan you had previously purchased is finished no matter how much time is left. You were no further ahead than someone who got the free credit card coverage. If that's "well worth it", then we've got different definitions.

First off, I used to work at Future Shop and know exactly what a ripoff PSPs are 90% of the time. My TV, in question, was purchased used from a co-worker, complete with PSP. The TV died. It was replaced under PSP. I stand by the fact that even with all the horror stories I've witnessed first hand with PSP dealings, $109 for an extra 2 years is well worth it. Again, even with CC adding 1 year, it's 2years vs 4years coverage..

I merely brought up my experience to show the OP that indeed PSPs on TVs do work on occassion. At FULL price, I would avoid them, they are a ripoff...

[zoolander]

Hmm, no mention of LG? Go to the library and check the actual issue. Info not avail online unless you are a CR member.

Consumer Reports found little difference between the average repair rate for LCD and plasma TVs – overall, they both had a 3 percent repair rate. Among LCDs, Dell (which recently stopped selling its own brand of TVs) and Hitachi were among the less reliable brands, as were Philips plasma TVs. Aside from Panasonic, other brands with low repair rates include Sony, Sharp, Samsung, Toshiba and JVC in LCDs. For plasma sets, Panasonic, Pioneer and Samsung also had low repair rates.

Among the tiny percentage of sets with problems, most repairs were free, presumably because they were covered by the manufacturer’s standard warranty. The few respondents who paid out of pocket for repairs spent an average of $264 on LCD sets and $395 on plasma.

[mystery]

That's beside the point. His question was, "have you ever had a TV break down on you when it wasn't your fault?". To which the story spells out that yes, TVs can break down through no user fault.

The OP is not debating an extra year of protection, which could come from a CC. It's $109 for 2year (1year manu+1year CC) vs 4year (PSP). Well worth it IMHO.

Actually in this case I was not repsonding to the original poster. In the other poster's case, his TV was just over the ONE year mark when it failed.

[slim_shady]

Um, post #14. Try reading?

There was absolutely no question asked in post #14 -- you have lost your mind :lol: