My Question of the Day: It seems like the day after the warranty on our mid-to-high-dollar-value items expire, we begin to have problems with our now not-so-new purchases. Knowing that this does indeed happen sometimes, do you make it a habit to buy the extended warranties for your mid-to-high-dollar-value items when they are available?

My 2 Cents: I always, always, always get the extended warranty, and I’ve used my extended warranties a good portion of the time to warrant this, especially with my notebook computers. Right before the warranty expires on my computer, I take it in for routine maintenance. Every extended warranty I’ve ever purchased for a notebook comes with that service, even though folks don’t know this. In the routine maintenance check, if something is found to be wrong, they’ll fix the issue and my notebook will keep working for at least a year or two after the extended warranty has expired.

Years ago, I bought a treadmill and hemmed-and-hawed about buying the extended warranty. I finally decided to do so, and about six months after I started using it, the rolling mechanism in the front of the treadmill that makes the belt go around and around went bad. The guy who came out to my home to repair the treadmill showed me the cost of the part he brought with him to replace that mechanism. That part alone was three times the cost of what I paid for my extended warranty.

Having said all that, I’ve actually never purchased an extended warranty on a car. Hm. That might happen the next time I buy a car.

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