Are extended warranties worth it?

[Cowdisease]

Very soon, I plan to purchase a Samsung 42" DLP TV. Most stores offer a 2-year extended warranty for $250, 3-years for $340, and 5-years for $400. I'm wary about buying an extended warranty plan, but I'm concerned about the set breaking without a warranty plan in place.

What have been your experiences with extended warranties? Do you feel they are worth it or simply an easy way for stores to get more money from customers? For those of you who have purchased DLP sets, do you feel the warranty is necessary?

[gamevet]

My shit always broke shortly after the warranty. I've yet to have a warranty come into use and it seems like it's more of a jinx for me.

I can't see paying $250 for a 2 year warranty, on a television that is only going to cost you around $1,500. Most television repairs should be under $250, unless you fry the gun, or crack the screen.

I had my Sony Wega HD set repaired last summer. They replaced the whole IC board for under $250.

[stormy]

Buy from Costco. Lifetime warranty for free and they carry Samsung DLPs.

Normally I don't buy them but i will for known high failure rate items. For the real big stuff like TVs i think it's just best to get it as Costco.

[Schlep]

Usually if TV's are going to crap out, they're going to do it within 90 days or after 4-5 years of heavy use. At least that's been my experience so far.

[Rumpy]

The light replacement for a DLP is like $150 iirc.

[Rich]

Buy from Costco. Lifetime warranty for free and they carry Samsung DLPs.

Normally I don't buy them but i will for known high failure rate items. For the real big stuff like TVs i think it's just best to get it as Costco.

Was just about to say buy it from Costco. Even if you don't need the warranty, you can return it in 6 years and get a full refund.

[Yoshi]

Extended warranties are a stupid ass purchase, and every retailer knows it. They aren't in the business of offering them to lose money. Obviously they think that if they offer a $100 extended warranty on a $1000 item, then less than 10% of them will break. It's simple statistics and risk management. If you buy the warranty, you are safer, but you are also pissing away money from a risk standpoint all else being equal.

[Hot Like Wasabi]

Target has some pretty cheap 3yr extended warranties but I dont believe they carry Samsung DLP sets.

[Razor Ramon]

I buy them and they usually come in handy. I had an MP3 player go to shit after two months and got a full refund. I bought a brand-new stereo when I was 14 and got a 3 year warranty on it. It broke down maybe five times at least. (Never buy at 6th Ave.) I also got a (relatively cheap) warranty for my fatty DS but it never shit the bed.

My current HDTV has no extended warranty but it had a one-year warranty from Samsung that came in handy almost immediately since the screen warped. Unfortunately, Samsung also took almost two months to get the replacement unit to my place.

Bottom line, do your research on the product, the company and the store that carries it. Cover all those bases and you'll know if you need an extended warranty or not.

[SpoDaddy]

It all depends on the product and the price of the extended warranty. I thought $70 for a 2 year Xbox 360 warranty was a no-brainer (especially with the new model coming out), but for a quality TV I don't think it's necessary.