Consumers Beware: Extended Consumer Product Warranties Generally Are a Waste of Your Money

Consumer Reports tells you why extended consumer product warranties generally are a waste of your money. Among the reasons: The warranties don't cover as much as you think; they are quite expensive; and sometimes the needed fix is easy and cheap. But the one I like best — and something I reflect on frequently — is that, these days, consumer products are pretty darn good and, so, generally last a long time (well beyond the term of the extended warranty).

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