Should You Purchase The Extended Warranty?

How often have you been asked, "Do you want the extended warranty on this?"  If you are planning on buying a new TV, appliance or computer that provides the option to purchase an extended warranty, this might help you in deciding how to answer that question.  

Consumer Reports magazine provided the odds that your newly purchased electronic or appliance will need repair in three to four years.

According to the magazine laptop computers and side-by-side refrigerators with an ice maker and water dispenser are the most likely to need repairs after the initial warranty expires.  Over 1/3 of each of each of those items required repairs within four years. 

Electric cooktops are the least likely appliance to need a repair with only 9% of those requiring a repair within four years. 

Here is a complete list from Consumer Reports magazine with the odds that the newly purchased electronic
or appliance will need repaired in three to four years.

• Laptop computers  36%
• Side-by-side refrigerators with ice maker and water dispenser  36%
• Desktop computer  32%
• Top or bottom-freezer refrigerators with ice maker 28%
• Front-loading washing machines  25%
• Top-loading washing machines  20%
• Canister vacuum cleaners  18%
• Gas ranges  16%
• Top or bottom-freezer models without ice maker  15%
• LCD televisions  15%
• Upright vacuum cleaners  14%
• Gas cooktops 14%
• Electric ranges  13%
• Plasma televisions  10%

Click here's for more from Consumer Reports on Extended Warranties.