27th October 2014 Buying electrical items? - Think twice about that extended warrantyMaking your money go further is important, so if you are thinking about buying an electrical item, make sure you know the true cost of extended warranties. From ipads to games consoles, TV's, cameras, laptops and kitchen ‘white goods’, extended warranties are often offered to give you 'peace of mind'. The OFT is advising consumers to think carefully about the value for money offered by an extended warranty, as it is likely to be expensive compared with the amount you would normally pay out in repair costs. Some people forget that the goods they buy new often have a manufacturer’s guarantee that usually lasts for one year, so there may well be no need to buy an extended warranty when you buy the goods. The OFT suggests that before they buy a warranty, shoppers should think carefully about the following:
It is certainly a good idea to shop around for some quotations before signing up to a warranty. You should also check that the warranty company has an agent here to carry out any repairs otherwise you might have to send the purchase away and pay the postage. Contacts for further information/interview: Andrea Tabb, Advice Centre Manager, telephone 686565
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