Would you pay $120 for a 5 year dishwasher warranty?

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pondering
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Would you pay $120 for a 5 year dishwasher warranty?

Post by pondering » Mon Jul 16, 2018 5:51 pm

I bought this dishwasher today:

https://www.whirlpool.com/kitchen/dishw ... 0pahz.html

and decided to buy the 5 year warranty for $120

Any thoughts?
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JoeRetire
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by JoeRetire » Mon Jul 16, 2018 5:52 pm

You've already purchased the warranty, right?

So does it matter if folks here would or wouldn't do the same? I follow Consumer Report's advice and never purchase such warranties.

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fortfun
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by fortfun » Mon Jul 16, 2018 5:55 pm

Probably not. I'd just use a CC that doubles the manufacturer's warranty. I'd also keep the packaging, if possible, so I can return it if it's a lemon (during the return period). Seems like my appliances make it five years before breaking (under regular use).

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pondering
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by pondering » Mon Jul 16, 2018 5:57 pm

I'll probably buy 5-10 more appliances in my lifetime. I'm still learning.
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JoeJohnson
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by JoeJohnson » Mon Jul 16, 2018 5:57 pm

No. Two reasons.

1) I can afford to replace if something goes wrong.
2) My assumption is that the warranty company calculated the price of the warranty to exceed the expected costs they will end up paying out to customers.

Why would I pay for something that is negative expected value when I can easily afford the replacement via emergency fund?

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by livesoft » Mon Jul 16, 2018 5:59 pm

I would not. I know how to fix dishwashers.
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Pajamas
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Pajamas » Mon Jul 16, 2018 5:59 pm

No, because if I thought that there were a good chance a dishwasher would need repair or replacement within five years, I wouldn't buy it in the first place.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Meaty » Mon Jul 16, 2018 6:03 pm

No. On average, extended warranties assume an 8% payout. The rest is profit, commissions, etc. so while you might get a lemon, it’s less likely than 1 in 10
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by JoeJohnson » Mon Jul 16, 2018 6:09 pm

Pajamas wrote:
Mon Jul 16, 2018 5:59 pm
No, because if I thought that there were a good chance a dishwasher would need repair or replacement within five years, I wouldn't buy it in the first place.
That's a rather weird way to think about a warranty. If I offered you the warranty for $1 you would refuse because you expect there's a little chance you'll use it?

The important assumption here is that the warranty is priced for you to lose money, on average.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by denovo » Mon Jul 16, 2018 6:10 pm

pondering wrote:
Mon Jul 16, 2018 5:51 pm
I bought this dishwasher today:

https://www.whirlpool.com/kitchen/dishw ... 0pahz.html

and decided to buy the 5 year warranty for $120

Any thoughts?
You made the wrong decision. See million threads about consumer warranties on this forum
"Don't trust everything you read on the Internet"- Abraham Lincoln

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Sandtrap » Mon Jul 16, 2018 6:13 pm

No . Because in 5 years, that $120 could buy whatever parts might break along the way. And, after 5 years, the expensive parts the break will warranty complete replacement.
There is also a "free" factory warranty so the 5 year warranty covers after the factory warranty. For example, if there's a 5 year warranty on the pump motor, then that's redundant. Etc.
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by runner3081 » Mon Jul 16, 2018 6:17 pm

Terrible idea.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Raybo » Mon Jul 16, 2018 6:20 pm

I don't usually buy extended warranties (they extend from the manufacture's warranty, so a 5-year warranty is just adding a couple years onto the existing one by the manufacturer).

But, the last time I bought major appliances, a washer and a dryer, the on-line comments made it clear that either the washer would experience problems after a year of use or it would last a long time. Since the warranty was only for 1 year, I paid a bit to extend the warranty on the washer but not the dryer. We have experienced no problems with either the washer or the dryer, so what I paid was wasted.
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Cycle » Mon Jul 16, 2018 6:31 pm

No. if it breaks just buy another one.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Doom&Gloom » Mon Jul 16, 2018 6:34 pm

Nope. I'm never in the market for an extended warranty--just the item itself. If I am at all concerned about an additional warranty period, I try to be certain to use a credit card that offers at least one additional year's coverage.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Pajamas » Mon Jul 16, 2018 6:38 pm

JoeJohnson wrote:
Mon Jul 16, 2018 6:09 pm

That's a rather weird way to think about a warranty. If I offered you the warranty for $1 you would refuse because you expect there's a little chance you'll use it?

The important assumption here is that the warranty is priced for you to lose money, on average.
Yes, I would refuse it. Things that I don't want or need aren't even worth $0.01 to me unless I can resell them and I won't even bother with that these days.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by galawdawg » Mon Jul 16, 2018 6:44 pm

You may want to look at the terms of the extended warranty/service plan. Some permit cancellation with a full refund within a certain period.

For example, "protection plans" sold by Lowes allow for cancellation within thirty (30) days with a 100% refund (less anything paid under the plan for repairs) and pro-rata refunds after the first thirty (30) days. https://www.lowes.com/pdf/10272016andAfter.pdf

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by letsgobobby » Mon Jul 16, 2018 6:51 pm

livesoft wrote:
Mon Jul 16, 2018 5:59 pm
I would not. I know how to fix dishwashers.
Parts alone could easily exceed $25 per year. I don't know about whirlpool but my supposedly highly rated Kenmore needed four service calls in three years and the parts were around $150. But our new Bosch has been great.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by JBTX » Mon Jul 16, 2018 7:07 pm

Conventional wisdom is you don't. And I typically don't. We have a whole new set of kitchen appliances and I'm not purchasing warranty on any of them.

That said, there have been occasions where I bought one, in spite of the conventional wisdom. The rationale is that of it were to malfunction I would feel a great deal or remorse and aggravation.

I buy warranties on any of my daughters major electronics, and they have probably paid off as she is brutal on them. I paid for a warranty on a old washer just to avoid the hassle and expense of buying a new one.

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TxAg
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by TxAg » Mon Jul 16, 2018 7:12 pm

Nope.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by TierArtz » Mon Jul 16, 2018 7:14 pm

Generally, no. I hope I'm finished buying appliances that last less than 20 years.

We bought an extended warranty on a Kenmore washer because the one before it died a month after the standard warranty ended and the repair cost was going to be about 80% of new. So, we kicked in about $300 more and had a new one (to match the dryer) and an extended warranty. It paid for itself and is now expired. The next time the washer dies, I'm going to talk the DW into a new Speed Queen set.

We recently paid $750 to have a 10-year-old Miele dishwasher repaired (new pump), which is about 1/4th the price of a new one. I don't regret spending the money on it, or an occasional repair, as they work great, are super quiet, and I'm not adding to a landfill every 5 years.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by racy » Mon Jul 16, 2018 7:22 pm

Never have, nor ever will buy extended warranties. I also get very high deductibles on my insurance.
I know I'll have to pay-up for some things someday, but I'd rather get some savings account interest while I'm waiting for that event.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Nicolas » Mon Jul 16, 2018 7:29 pm

Deleted
Last edited by Nicolas on Wed Sep 05, 2018 7:55 pm, edited 1 time in total.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Stinky » Mon Jul 16, 2018 7:52 pm

Meaty wrote:
Mon Jul 16, 2018 6:03 pm
No. On average, extended warranties assume an 8% payout. The rest is profit, commissions, etc. so while you might get a lemon, it’s less likely than 1 in 10
+1

Don’t buy extended warranties. On anything.
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Quaestner » Mon Jul 16, 2018 8:03 pm

I've had dishwashers (plural!) break in under 5 years before. Although I go along with the "no warranty" mindset, if you have a family and don't eat out too much you just might have the last laugh on this! Enjoy the security and relax. If you don't use it, it's a win (not having the hassle of scheduling a repair or dealing with the store), if you do use it it's a win too! (But maybe skip the purchase next time.)

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Toons » Mon Jul 16, 2018 8:18 pm

No

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Big Dog » Mon Jul 16, 2018 8:28 pm

No, I would not.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by tooluser » Mon Jul 16, 2018 8:34 pm

pondering wrote:
Mon Jul 16, 2018 5:51 pm
I bought this dishwasher today:

https://www.whirlpool.com/kitchen/dishw ... 0pahz.html

and decided to buy the 5 year warranty for $120

Any thoughts?
Yes, and I did last year.

Looking up the failure rates of dishwashers (10-20% in the first year) convinced me that it was not an unreasonable thing to do for a more expensive model, which are no more reliable than the cheaper models, but I like the features it has.

So far it's been a waste of money. I could have bought six high quality pizza pies with that money, which would have brought me more joy. I'll endeavor to report back on this four years from now.
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Iorek » Mon Jul 16, 2018 8:39 pm

I did and am glad-- used it probably 4 times so far?

Once it turned out the problem was a supply pipe freezing, but did not get charged for the service visit (which would have been $100).

Once the control panel died (guy mumbled something about moisture not being good for electronics).

Then the control panel died again (could maybe have gotten some credit on that since the guy said the previous replacement must have been a dud).

Can't remember what the last problem was.

Anyway, I now am converted to buying extended warranties for macbooks and dishwashers.

notinuse
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by notinuse » Mon Jul 16, 2018 8:44 pm

Nope.

123
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by 123 » Mon Jul 16, 2018 8:45 pm

I bought one last year - it was the first time I ever bought an extended warranty. We paid around $1,000 for a quiet dishwasher after the previous one failed after 7 years (the replacement was a similar model) and I decided to buy the extended warranty as well. We use our dishwasher a lot and things are not built like they used to be so I decided to get it. I plan to very carefully explore the floor underneath it for leaks when it hits the 4 1/2 year mark, the dripping stains underneath the old one were likely there a long time before the leak gushed.

Edited to add:
If we could have gotten by with a more economical (noiser) dishwasher, I wouldn't have bothered with an extra warranty. I would treat a $500 dishwasher as a disposable.
Last edited by 123 on Mon Jul 16, 2018 9:03 pm, edited 1 time in total.
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by jimmyq » Mon Jul 16, 2018 8:47 pm

Nope, doesn't look like a good deal to me. I'd rather fix it myself if it breaks.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by JHU ALmuni » Mon Jul 16, 2018 8:47 pm

Definitely not, home appliances usually last 10+ years with no issues.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Pajamas » Mon Jul 16, 2018 8:52 pm

Iorek wrote:
Mon Jul 16, 2018 8:39 pm
I did and am glad-- used it probably 4 times so far?

Once it turned out the problem was a supply pipe freezing, but did not get charged for the service visit (which would have been $100).

Once the control panel died (guy mumbled something about moisture not being good for electronics).

Then the control panel died again (could maybe have gotten some credit on that since the guy said the previous replacement must have been a dud).

Can't remember what the last problem was.

Anyway, I now am converted to buying extended warranties for macbooks and dishwashers.
What brand is that dishwasher so I can avoid it?

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tuningfork
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by tuningfork » Mon Jul 16, 2018 9:02 pm

No. Every dishwasher I have owned has lasted longer than 5 years.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by denovo » Mon Jul 16, 2018 11:18 pm

Raybo wrote:
Mon Jul 16, 2018 6:20 pm
I don't usually buy extended warranties (they extend from the manufacture's warranty, so a 5-year warranty is just adding a couple years onto the existing one by the manufacturer).

But, the last time I bought major appliances, a washer and a dryer, the on-line comments made it clear that either the washer would experience problems after a year of use or it would last a long time. Since the warranty was only for 1 year, I paid a bit to extend the warranty on the washer but not the dryer. We have experienced no problems with either the washer or the dryer, so what I paid was wasted.
Many credit cards double the 1 yr warranty (so you get 2)
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by bottlecap » Tue Jul 17, 2018 7:29 am

Another no. They don’t sell these to lose money. It’s a losing bet on an appliance that you can afford to fix yourself if anything goes wrong. Why make it?

It’s anecdotal, but I’ve had a fairly good sample size and never seen anything go wrong with a dishwasher until maybe year 8, and that was only once. I got on google, figured out what was wrong, ordered the part for about $120, and fixed it in 3 or 4 hours. Four years later it still runs. Previous to that, I knew nothing about fixing dishwashers.

I’d bet 90% of dishwashers never break before they need replacement. They just slowly wear out and become less effective.

JT
Last edited by bottlecap on Tue Jul 17, 2018 9:44 am, edited 1 time in total.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by deltaneutral83 » Tue Jul 17, 2018 9:15 am

Only thing I'd buy an extended warranty for is a foreign car. Paid $2600 with $100 deducs and had 4 repairs worth $7k over three years, so $3k spent for $7k in repairs (Audi A4 that was 4 years old when I bought it, never again). Other appliances I wouldn't get into as over the course of a lifetime as it's well known that 85-90% of the premium does not go for repairs. You'd have to be in the bottom 3% of unluckiest people for the warranty game to even come close to cashing in the money I feel like and you can't know that ahead of time. Play the odds.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by criticalmass » Tue Jul 17, 2018 9:26 am

Doom&Gloom wrote:
Mon Jul 16, 2018 6:34 pm
Nope. I'm never in the market for an extended warranty--just the item itself. If I am at all concerned about an additional warranty period, I try to be certain to use a credit card that offers at least one additional year's coverage.
Which credit card doesn’t exclude extended warranty coverage on installed appliances? My last card without this exclusion was Chase Visa, and they changed terms a few years ago, so they also now exclude installed appliances.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by core4portfolio » Tue Jul 17, 2018 9:30 am

criticalmass wrote:
Tue Jul 17, 2018 9:26 am
Doom&Gloom wrote:
Mon Jul 16, 2018 6:34 pm
Nope. I'm never in the market for an extended warranty--just the item itself. If I am at all concerned about an additional warranty period, I try to be certain to use a credit card that offers at least one additional year's coverage.
Which credit card doesn’t exclude extended warranty coverage on installed appliances? My last card without this exclusion was Chase Visa, and they changed terms a few years ago, so they also now exclude installed appliances.
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by LarryAllen » Tue Jul 17, 2018 9:32 am

I am not a warranty guy because it's rarely as easy as just buying a new one. Often you have to jump through hoops or it doesn't include labor, or shipping, or whatever.

Having said all that our last couple dishwashers have broken not much after 5 years so maybe you'll cash in! If you sleep better then good for you!

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Texanbybirth » Tue Jul 17, 2018 9:34 am

No sir, I would not.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by tuningfork » Tue Jul 17, 2018 9:44 am

deltaneutral83 wrote:
Tue Jul 17, 2018 9:15 am
Only thing I'd buy an extended warranty for is a foreign car.
Toyota? Honda?

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by RudyS » Tue Jul 17, 2018 9:51 am

As a matter of principal, I do not buy warranty plans. If it pays them to sell it, it pay me to not buy it. BUT, first time ever: Bought a Kitchenaid DW at Lowes. I bought the $109 5 year warranty. While replacement parts CAN be cheap, the electronics never are. Right after manufacturer's warranty ran out, the pump quit. Free service call. Six months later, another problem. Free service call. Sometimes it's a matter of luck!

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by topper1296 » Tue Jul 17, 2018 9:52 am

Generally speaking, no on "small ticket" items and maybe on "big ticket" items for peace of mind. I did pay for an extended warranty when I bought a brand new car below dealer invoice after they knocked the warranty price down by a 1/3.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Ragnoth » Tue Jul 17, 2018 10:12 am

I don’t buy extended warranties if I can comfortably afford to replace the item.

Just like any other insurance, remember that extended warranties are meant to be a money maker. On average, customers will pay more for warrantees than they would to simply buy a new device if it breaks.

It’s also worth mentioning that replacement cost will usually be cheaper that the original purchase price since older models tend to drop in value... if your $500 machine breaks in year 4, I bet you can buy a replacement for substantially less than $500.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Broken Man 1999 » Tue Jul 17, 2018 10:31 am

On the occasions that I helped daughters with appliances, I often would buy an extended warranty for them. Though, honestly the extended warrantee was for my benefit. No calls for Dad to work on appliances. It was worth it for me. And, they did benefit as well.

Same theory when I provided AAA membership for them. selfishly it was partially for my benefit, not having to work on a car beside the road. When they got married, they were on their own.

Today I would be unlikely to purchase extended warranties on most appliances. Though, if it were something that had an unknown reliability such as the new refrigerators that have so much technology stuffed inside, I might be willing to bite. I did purchase extended warranties on the front load washing machines and dryers, as we were early adopters, and it paid off. However, today we have good reliability information to use, unlike when the new laundry style machines were introduced.

We have had good experiences on the standard dishwasher brands like GE, Whirlpool and the like, and honestly the prices are so low it makes no financial sense to have an extended warrantee.

Broken Man 1999
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by DanMahowny » Tue Jul 17, 2018 10:34 am

Extended warranties are great for people that hate money.
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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by barnaclebob » Tue Jul 17, 2018 11:42 am

I wouldn't for a dishwasher which I can most likely repair myself but I did get one for a fridge I just bought and I am very against extended warranties.

The fridge (an LG), like most fridges, gets terrible reviews for compressor failures and the warranty was only $220 for a $2000 fridge bought at 30% off. Best case scenario is I get $75 of the warranty back in 5 years if I don't make a claim and I won't be missing the $145 at that point.

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Re: Would you pay $120 for a 5 year dishwasher warranty?

Post by Rexindex » Tue Jul 17, 2018 11:45 am

As a general rule I never buy extended warranties with two exceptions:

1) Anything that vibrates (i.e. washing machine)
2) Anything mechanical but cars left out in the elements ( I just had an HVAC compressor go at 6 years, the 10 year warranty saved me $6500)
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