Hope this is a good place to put this as I really don't see a good spot. If this kind of discussion is frowned on in general please feel free to let me know and/or delete the thread.
My 50 inch Panny I bought in 2010 puked the other day. Fortunately it is still under CPS warranty. They say keep the TV and we will give you $370. I purchased the TV for about $1100 new. My question to you all, is this acceptable? Settlement seems a bit low to me. I really don't think I can get any 1080p 50 inch Panasonic for $370. Are these situations able to be negotiated?
Here is there 'Market Value' justification - http://www.searsoutlet.com/d/inventory_details.jsp?cid=892&pid=111894&mode=buyUsedOnly...p=11223&sort=1
Anyone out there have some experience with this? I'm a first timer. Thanks in advance for any help.
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If you like your current set, go through with the warranty.
IMO many of these warranty deals make no sense. Most TV's made today don't stay on the market longer than a year. You can't even find many parts on models that still sit on the shelves after 6 months. Meanwhile you'll find many complaints about those warranty deals on the 'net, including complaints about CPS. You might consider settling for what they offer and apply the $$$ to a new set. Finding a new one exactly like it would be a lottery after 4 years.- My sister Ann's brother
Big price difference. And this one is actually 50 inch, not 55 like their offer.
Lightning, yep. Bummer. Well, it's a little late now, but if what you use is one of those $30-or-less "surge protectors", they're fairly useless for anything except maybe a blown fuse. Our beloved CRT got hit by a surge that a $200 Monster Cable "protector" simply ignored. One guess what I did with that Monster unit. I have two $100 surge units that simply turn off for any kind of surge and don't turn back on -- inconvenient, but it's better protection. My other setup is a UPS power unit that cost a pretty penny and has saved a TV, BluRay player and a PC after some bad lightning storms here. But the good stuff costs a pretty penny. I've had bad weather here while on vacation and came back a couple of times to find the other two units were turned off, no damage to anything hooked to it. But like I say, that info won't help now.
If you stop and consider, a warranty extension promises to get you a replacement. But likely there won't be a replacement after 4 years, so what should the warranty outfit do? With a few folks I know locally, one had a warranty that replaced the original cost if a fix wasn't available. That wasn't the cheapest warranty in the store. I don't know what's in the fine print on your warranty. Also consider that many parts for a 4 year old TV might not be out there.
Hate to bring up bad news, but I had a plasma that went haywire after 6 months. I used the OEM warranty to get a replacement, but that took another 3 months of haggling. Within a year after I bought it, that model disappeared from the market. The replacement still works after 6 years. Then had an LCD that went crazy with colors after 2 months. Tried getting it serviced. Guess what? Needed a motherboard, but nobody had a new one (and the model was still on sale in stores!). After another month I took a 60% refund off a 2-year ext. warranty, sent the old LCD to the landfill, bought a new set, and never went back to that brand again. The new set lacked some inputs I needed, so I bought a damn expensive a/v receiver that connected everything I had. And they don't make those any more, so I got the pricey UPS unit!
I come across reports of similar events. I guess those 3rd party warranties might be worth it in the longer run, but you have to read the fine print. Better coverage costs more.- My sister Ann's brother
GLE3 - You can try to fight with them over the settlement, but you may have to hire a lawyer and I must warn you that the cost of doing that may mean you'll spend $1000 to get $300 more out of them, so it's probably not really worth it.
I don't buy extended warranties because they are usually like your experience. I live in a major metropolitan area of the USA and one of my co-workers bought a wall mounted air conditioner about a year ago. It's now dead but he bought a warranty on it. The warranty people told him that they can't find ANYBODY in our entire metro area to work on it. We have millions of people in the metro area, yet they claim they can't find even one guy to work on it. "Sucks to be you" is basically what they told him. So hopefully you have learned a valuable less about the "worth" of extended warranties.
You might consider buying a cheap but useful UPS to plug your TV into. I do that specifically to protect it against power surges and the constant brown outs we have where I live. It offers much better protection than a surge protector. I've got something similar to this:
$48 is a lot better than whatever you paid for your warranty.
- My sister Ann's brother
Political correctness while using slang... Must say that didn't cross the mind.
Really this isn't a bash on warranty companies or buying a warranty. At the same time I'm not suggesting others go out and get warranties either. In my situation the TV would have been dead years ago if I didn't get a warranty. Between two service calls, parts and labor, and this buyout offer I'm getting is well over the amount I payed for the warranty itself.
My only real question is will these companies negotiate? The terms of the warranty do not state if they will or will not. All it says is I will be payed "current fair market value". You know, kind of like when you wreck a car and the insurance companies want you to pay this, but you go back and forth on the worth and it ends up being a compromise?
Hey, just following up on this. I figured I had nothing to lose and asked them to re-evaluate there offer citing cost for refurbished plasma's in my area. Wasn't really expecting anything to happen.. They came back with a $579.99 offer! So some encouragement for those that bought into a warranty and feel they are 'stuck' with whatever claims offers them.....