Forum Discussion
Second_Chance
Dec 18, 2020Explorer II
My wife found a very good description of extended service plans a while back (they are not warranties, but rather insurance policies with lots of fine print). They are another form of legalized gambling. The company is betting that nothing breaks that would cause them to pay out more than you paid for the policy; you're betting it will. As in all forms of legalized gambling, the house usually wins. Otherwise, these companies wouldn't be in business or make a profit. We prefer to set money aside regularly (earning interest) and pay for repairs as they come up.
Rob
Rob
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