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We are getting close to finishing our Kitchen remodel, and been very busy. Months ago I asked about buying the EXTENDED WARRANTEE.
http://forums.macresource.com/read.php?1,1751999,1751999#msg-1751999
We didn't do it, but we still have a chance to pay $1201 to have the warrantee extended to 5 years.
It would be for a French Door side by side Fridge with Ice Maker, $700 Dishwasher with hidden buttons in the door. Warming Oven, 30" Double Oven w / Convection., and Stove Top.
One breakdown a year from now, would certainly run in the >300 range.
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Why not put the $1201 in a savings account?
At the usual $0.001% interest, you'd save a lot more than you're likely to save on repairs with a warranty from Sears.
(Among other things, your bank is more likely to remain in business than Sears is.)
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Do not. Do that. Save the lucres as old Chak said.
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Just don't forget to sock it away somewhere.
If something does break, you'll probably be a little miffed if you forget to actually save the money towards repairs.
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I would recommend the extended warranty on the refrigerator, stove and dishwasher. Skip the microwave, unless the cost of the warranty is really cheap. Repairs can be very expensive. If the control panel on the stove goes, that can run up to 500-600 with labor and a call-out charge.
Don't worry about Sears staying in business. The stores and the repair service are separate entities owned by Sears Holdings.
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You can wait a year or two and Sears will call offering the same price for the warranties.
Sears called to sell me another warranty shortly before the extended warranty I bought on my snowblower ran out. I told her the thing never ran right even after a number of service calls and it was parked unused in the corner of my garage. The CSR thanked me for my business and said goodbye.