Visions Extended Warranty: Is it worth it?

extended warranty rarely worth it. they're great for the salespeople however. i made lots of extra $ back in the day pushing extended warranties

Almost 5 years ago, I had purchased my LED TV from Visions, and was offered a deal on 5-year extended warranty for $100. I bought the warranty but haven't used it, yet. This warranty will expire in October this year, so I am hoping to cash out the $100 - hoping it would be a hassle-free experience (provided my TV doesn't break down between now and October).

Really the only time an extended warranty is worth it is if you have to use it.

Hi there,

I wouldn't bother. With TV prices keep going down every year, it is pointless. If you're worried, get one at Costco. it comes with 2 years with a TV purchase...

Ju Leon...

Its not worth it.

You can google and find lots of bad experience with Visions and Bestbuy extended warranty. The only extended warranty (for TVs) that is worth it, is probably Costco. The reason being how easy it is to use and the cost (it cost max $100+taxes even for a $3000+ TV, which makes the cost a smaller percentage of the TV cost).

Remember the percentage cost is whats important because the probability a TV breaks down during extended warranty period is generally in less than 10% (this does vary depending on brand, i.e. RCA will likely be much higher than say Samsung, LG, or Sony).

I'm shocked Visions is still in business in normal times so tack on the pandemic and everyone closing left and right and you have to wonder how away they are from insolvency. Not a huge fan of extended warranties, especially since you have manufacturers + credit cards warranty, but combine that with an at-risk reseller and it's just meh.

RiCHC3 wrote: ↑ I'm shocked Visions is still in business in normal times so tack on the pandemic and everyone closing left and right and you have to wonder how away they are from insolvency. Not a huge fan of extended warranties, especially since you have manufacturers + credit cards warranty, but combine that with an at-risk reseller and it's just meh.

That's an interesting theory but honestly for a company like Visions (and Bestbuy), covid 19 really hit at the best time for them (if there is a best time). That is during the period where they normally see less business anyways. Most electronic sales actually happens during the holidays so as long as the economy recovers somewhat by black friday, Visions should be fine. Plus the government is probably paying a lot of their expenses right now/for the last couple months.

Paigne wrote: ↑ That's an interesting theory but honestly for a company like Visions (and Bestbuy), covid 19 really hit at the best time for them (if there is a best time). That is during the period where they normally see less business anyways. Most electronic sales actually happens during the holidays so as long as the economy recovers somewhat by black friday, Visions should be fine. Plus the government is probably paying a lot of their expenses right now/for the last couple months.

It's theorycrafting for all of us so we'll see how it all unfolds down the road. In a conventional year, I think you're right that BestBuy et al see less business around this time of year so you would think it could be a blessing, but in this pandemic people are also getting stimulus cheques and generally getting stir crazy at home. People are buying a combination of home entertainment products (TVs, consoles) and things for their home office/schooling (webcams, computers, laptops). Quarantine forced even more people to online retailers and obviously the biggest benefactor of that is likely Amazon. Best Buy is probably seeing good numbers on their online space, but hemorrhaging from their retail outlets which sat empty for awhile and likely have significantly reduced traffic now. However, players like Visions whose website looks like it's from 1998, may have almost nothing going for them.

I suspect people are being reckless now with their finances and when the government cheques stop coming, not to mention the realization that they have to pay taxes on that income, credit card balances, among other things, people are likely going to tighten up the ship later and count their pennies.

We'll see what happens, just not sure why anyone would gamble with Visions and an extended warranty service during these times.

we bought a TV more than 5 years ago and bought a extended warranty. After 5 years and haven't used it they gave back the whole amount of the warranty as store credit. But there's a catch if for example you got back $200 amount of warranty that you paid you can only use that store credit if you buy $400 worth. To get the reimbursement of the you just need to email the date invoice number, personal info and the store number to bought the item. They will reimburse you 30days after the expiration date of the warranty.

So even with the discount its not really all that great? Got some responses about the extended warranty but my warranty cost was significantly reduced?

Original retail: $1299
1 year warranty: $0
Total: $1299

Discounted retail (if agreed to buy warranty): $1139
3 year warranty: $350
Total: $1489
$350 credit after 3 years, or get the laptop repaired/replaced if needed within the 3 years.

Terms
If no warranties are claimed within the 3 years, you get $350 back as credit. Purchase must be >$700. Credit must be claimed within 90 days of warranty expiration. Credit is good for 1 year once its claimed. Warranty will cover any manufacture defects, product issues, and they will replace with new if not repairable.

A laptop is not a TV, which is what most posters referred to. In my experience, a laptop is more likely to fail than a TV. I'm on my 3rd laptop over the years that has been replaced by the extended warranty at the Microsoft Store, so there is value.

You can probably negotiate the price of the laptop without warranty down a bit. Visions prices tend to be fairly flexible.
Visions is counting on people not remembering to go in within the 90 day period after warranty expiration. It sounds great as a sales tool, but I bet the percentage of people actually using it is quite low.
If you have the discipline & know for sure you'll need something > $700 after 3 years then it's not a bad deal since you're essentially pre=paying a discount if the warranty isn't needed.
But if you're likely to forget, or if you end up buying something "just because", then you won't end up ahead.

Thank you! Finally a post that answers my question.

Based on the fact that they are offering to reimburse you as a credit if it doesn't get used, then I say go for it. Just get everything in writing. Warranty is like insurance. Peace of mind (most of the time).

tofinoguy wrote: ↑ A laptop is not a TV, which is what most posters referred to. In my experience, a laptop is more likely to fail than a TV. I'm on my 3rd laptop over the years that has been replaced by the extended warranty at the Microsoft Store, so there is value.

You can probably negotiate the price of the laptop without warranty down a bit. Visions prices tend to be fairly flexible.
Visions is counting on people not remembering to go in within the 90 day period after warranty expiration. It sounds great as a sales tool, but I bet the percentage of people actually using it is quite low.
If you have the discipline & know for sure you'll need something > $700 after 3 years then it's not a bad deal since you're essentially pre=paying a discount if the warranty isn't needed.
But if you're likely to forget, or if you end up buying something "just because", then you won't end up ahead.

Yes, Vision can recoup that $100 in 3 years by investing the fund, and of course they are hoping it's not used. Good strategy on Vision end I must say.

Visions Electronics Extended Warranty.

Mid Nov 2022 Visions Electronics sold me $149.99 Extended warranty. Visions' manger told me that if you don’t use the warranty, we will refund you $149.99 store credit. The warranty comes free at the end.
Early Dec 2022 I returned the product, Visions told me that now the price has been dropped and your warranty is $99.99.
Visions simply charged me $50 on warranty as restocking fee. (The receipt does exist as a proof-names deleted)

Visions Extended warranty is not free. Credit card’s extended warranty or buying real warranty from the market are better options.

SherSingh wrote: ↑ Visions Electronics Extended Warranty.

Mid Nov 2022 Visions Electronics sold me $149.99 Extended warranty. Visions' manger told me that if you don’t use the warranty, we will refund you $149.99 store credit. The warranty comes free at the end.
Early Dec 2022 I returned the product, Visions told me that now the price has been dropped and your warranty is $99.99.
Visions simply charged me $50 on warranty as restocking fee. (The receipt does exist as a proof-names deleted)

Visions Extended warranty is not free. Credit card’s extended warranty or buying real warranty from the market are better options.

is says they are refunding only $99, instead of $149 because they've already refunded you the $50 before, as price protection when warranty price dropped to $99?

Dattphan wrote: ↑ So even with the discount its not really all that great? Got some responses about the extended warranty but my warranty cost was significantly reduced?

Original retail: $1299
1 year warranty: $0
Total: $1299

Discounted retail (if agreed to buy warranty): $1139
3 year warranty: $350
Total: $1489
$350 credit after 3 years, or get the laptop repaired/replaced if needed within the 3 years.

Terms
If no warranties are claimed within the 3 years, you get $350 back as credit. Purchase must be >$700. Credit must be claimed within 90 days of warranty expiration. Credit is good for 1 year once its claimed. Warranty will cover any manufacture defects, product issues, and they will replace with new if not repairable.

This is how these type of EWs work in every retailer. If you don't use it you get it back as a credit but you have to spend double the amount within a short amount of time and sometimes there are restrictions/exclusions. The sales people never tell you that you have to spend twice the amount and some even lie and say you get the amount back on a gift card.

Lol, people giving advice on a question from 3 years ago.

starchoice wrote: ↑ Lol, people giving advice on a question from 3 years ago.

Another old thread necroed by someone instead of creating one of there own. No advice was given on the old posts just a comment, and the advice was for the current post.