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Thread started 10 Dec 2010 (Friday) 11:14   
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mikona
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Hello,

I purchased my 7D from Best Buy a month ago.

We just got an offer in the mail to add an extended warranty (4 years) for $349.

What are your opinions on these things. Would you advise purchasing one?

Thank you for your time and assistance.

Mike

Post #1, Dec 10, 2010 11:14:16


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gonzogolf
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Total waste of cash. Invest the $349 in a savings account if you want. A shutter replacement is around $200 so that probably the biggest expense you would likely have.

Post #2, Dec 10, 2010 11:16:28




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mikona
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gonzogolf wrote in post #11428651external link
Total waste of cash. Invest the $349 in a savings account if you want. A shutter replacement is around $200 so that probably the biggest expense you would likely have.

Thank you very much!

Post #3, Dec 10, 2010 11:24:41


5D MK III, 430 EX II Speedlite, Canon 24-105 L, Canon 70-200 L f2.8 IS II, 2 Einsteins

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TeamSpeed
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That warranty would cost you $118 for the 3 years it covers you, you would be better off just getting a rider policy for personal belongs with your insurance company.

Sometimes warranties are worth it, but very seldom. For example, I just bought 4 theater seats with power reclines. We will use these almost daily. I ended up buying the extended warranty that costs $50 per chair for a 5 year period. That seemed worth it, it covers tears, the motor, etc. $13 per chair per year of the covered 4 years is worth it.

EDIT: another example, I bought a Honda Odyssey a few years back. The dealer wanted to charge $1500 for an extended warranty through Honda Care. I declined, went online and found a dealer in the next state that sells Honda Care warranties at 50% online, so I ordered one from them after sending proof of purchase, and I received the documentation from Honda a month later. $700 for an extended warranty seemed more respectable and it shows the markup.

Post #4, Dec 10, 2010 11:49:08


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TeamSpeed
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Also, if you want an extended warranty, you can still buy a Mack extended, but you will have to provide proof of your recent purchase for coverage. Or at least they allowed that back in the day. It would be much less expensive.

Post #5, Dec 10, 2010 11:52:06


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gonzogolf
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If you want more confirmation about extended warranties check consumer reports. They rarely recommend them for anything, especially so for electronics. The only time I can think of is with early models of plasma televisions that tended to required some maintenance within a year or two of purchase.

Post #6, Dec 10, 2010 11:53:34




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sigma ­ pi
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TeamSpeed wrote in post #11428816external link
you would be better off just getting a rider policy for personal belongs with your insurance company.

This

Post #7, Dec 10, 2010 11:55:37


Don't try to confuse me with the facts, my mind is already made up.
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mansalim
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you dont need extra warranty.. you need to go out and take pictures!

Post #8, Dec 10, 2010 13:32:50


:)

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Mk1Racer
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Unless they've changed the terms, I got the 4-year extended warranty from BB on my 40D. IIRC, it was ~$200. I used their 18-mth 0% financing, so it wasn't that big a deal to me. It covers pretty much everything except loss, and you will get a 1-time free battery during the warranty period. What sold me on it was, if during the warranty period, your camera is unrepairable, they will give you the current version of the model. If I needed to have mine done today, that would be either a 60D or a 7D.

Post #9, Dec 10, 2010 14:19:57


7D, BG-E7, BGE2x2 (both FS), 17-55 f/2.8 IS, 17-85 f/4-5.6 IS (FS), 50 f/1.8, 85 f/1.8, 70-200 f/2.8L IS Mk I, 70-300 f/4-5.6L, 550EX, Kenko Pro300 1.4xTC

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TeamSpeed
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I would rather just bank that $200 and if my camera had an issue, send it to Canon and pay the repair bill with that money. Hardly ever are there situations where the cameras are completely unrepairable. Every time you purchase something and consider buying the extended warranty and it costs more than 7% of the purchase price, put that money into an interest account (cars, electronics, etc). In 15-20 years you would be surprised on how much you have in this "warranty slush fund".

I have had nearly 20-30 different Canon DLSRs in the last 6 years, and only one ever "needed" any repair at all, and that was upon Canon's request (MKIII).

What-ifs are very powerful, I understand, and that is the impetus behind extended warranties.

Post #10, Dec 10, 2010 14:27:37


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themadman
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I would like to point out that Best Buy extended warranties cover accidental damage. If you drop, drown, smash, whatever, they cover.

You could say "just get insurance" but if you claim in the first year or two, your insurance is likely to drop you. I am not saying get the best buy insurance, but it should be considered.

Post #11, Dec 10, 2010 14:30:01


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TeamSpeed
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themadman wrote in post #11429593external link
I would like to point out that Best Buy extended warranties cover accidental damage. If you drop, drown, smash, whatever, they cover.

You could say "just get insurance" but if you claim in the first year or two, your insurance is likely to drop you. I am not saying get the best buy insurance, but it should be considered.

Not true, riders are separate policies through different underwriters than your car/house policies, and your insurance company won't drop you. I have one for $25K and no issues when we claim against it. And all good and sound financial advice from advocacy groups and advisors will say to stay away from almost all extended warranties.

Post #12, Dec 10, 2010 14:34:00


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themadman
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TeamSpeed wrote in post #11429621external link
Not true, riders are separate policies through different underwriters than your car/house policies, and your insurance company won't drop you. I have one for $25K and no issues when we claim against it. And all good and sound financial advice from advocacy groups and advisors will say to stay away from almost all extended warranties.

I'm just saying, 4 years down the line when the 7D2 comes out and Best Buy stops stocking the 7D and you "accidentally drop" yours... ;););)

EDIT: I guess then it is an issue of if the 7D will depreciate $350 in 4 years, lol

Post #13, Dec 10, 2010 14:59:51


Will | WilliamLiuPhotography.​comexternal link | Gear List and Feedback | CPS Member | Have you Pre-Ordered Your 3Dx Yet? | HorusBennu Discussion | In honor of Uncle Steve, thanks for everything! 10-5-2011

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TeamSpeed
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I have had my 7D and 5D2 surgically attached to my body, they cannot drop and break, but if they did, i have other issues way more expensive to worry about, not to mention the emotional attachment issues. :lol:

Post #14, Dec 10, 2010 15:49:49


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Mk1Racer
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Like I said, for $200, I'll get a battery ($50) and free repair / replacement. My home owner's insurance has a $250 deductible, and they're not going to upgrade it to the current model for me. I imagine that a 7D2(3?) will be out in a year and a half when my 40D falls off of my car onto my driveway. Look at it as spending $150 now for a new body in 4 years.

Post #15, Dec 10, 2010 16:41:54


7D, BG-E7, BGE2x2 (both FS), 17-55 f/2.8 IS, 17-85 f/4-5.6 IS (FS), 50 f/1.8, 85 f/1.8, 70-200 f/2.8L IS Mk I, 70-300 f/4-5.6L, 550EX, Kenko Pro300 1.4xTC

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