Should I Get the Extended Warranty for My $1,000 Phone?

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Should I Get the Extended Warranty for My $1,000 Phone?

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3 жыл бұрын

Should I Get the Extended Warranty for My $1,000 Phone?
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Пікірлер: 543

@rubyruby1847 3 жыл бұрын

I once bought an $80 microwave. The guy asked if I wanted the extended warranty for $50! I just laughed at him and said that I would risk it.

@jzam3220 3 жыл бұрын

Just realized I’ve completed baby step 1 today. How sweet!

@ImVeryBrad 3 жыл бұрын

Good job

@sunset6010 3 жыл бұрын

Nice !

@LG123ABC 3 жыл бұрын

Gratz!

@sucramsucram3558 3 жыл бұрын

Well done, keep going 😀

@chrisfamos 3 жыл бұрын

Congrats, keep it up!!

@lukefolds147 3 жыл бұрын

You have to love Dave’s consistency. The man doesn’t waiver in his teachings. Simple and to the point.

@matthew8153 3 жыл бұрын

Luke Folds And yet after all these years he still has to teach these things.

@armyretguy7365 3 жыл бұрын

The best investment to protect your phone is a complete case. One with a built in screen protector, water seals for the ports, and a good solid shell. You could go premium with an otter box, or get a $15 one from amazon. Either way, it’s cheaper than a $200 warranty, or $15/mo insurance. It’ll likely offset any repair with good protection. Every time I get a new phone, I immediately order a complete case for it.

@lovethemflowers 3 жыл бұрын

I’m also a firm believer in a phone case. I like the Otterbox with the silicone outer case. I barely took my new iPhone 7 out of my purse until I got the Otterbox for it. I bought the phone almost a year ago and plan to hang onto it for a while. I’m not one to upgrade unless the current phone can’t be resuscitated.

@deanalbertson7203 3 жыл бұрын

A good case is a good idea. However, how about spending $200 on a phone, $20 on a case, and call it a day?

@armyretguy7365 3 жыл бұрын

Dean Albertson depends on what you’re trying to do with your phone. I multi-task on mine, handle my investments in real time, video call quite a lot, do test shots before my DSLR, tether my DSLRs to the phone, and play an occassional 3D game. Honestly a 200 phone would NEVER work for a power user like me. Now if it’s just for calling/texting, maybe checking your banking app, light browsing, then a $200 phone is fine. I just couldn’t do it, because a $200 phone cannot handle the huge array of tasks I assign to my phone. To me, $1,000+ is worth it, because its an investment to me. Not in the sense it’ll appreciate, it won’t.... BUT, the time, energy, and less gadgets I need to carry saves me tons of money, in the tens of thousands when considering the energy and time savings. To most people a phone is just a phone.

@deanalbertson7203 3 жыл бұрын

@@armyretguy7365 I understand the multi-use aspect of a faster phone. But to me, that is what a computer is for. It seems a little ridiculous to spend $1,200 every year getting the latest phone. Then, oops they drop it, no case, time to get another $1,200 phone.

@armyretguy7365 3 жыл бұрын

Dean Albertson no doubt. I have a very power gaming PC and a video/photo editing pc also. Yes, I need both PCs due to wildly different specs for different purposes. I only buy a new phone every few years, not every year. As I stated though, it saves me tens of thousands of dollars, and 20+ hours or more a month in time. To me, it makes sense. To someone in my boat, it’ll make sense to them. You can’t really judge if $1200 makes sense to someone else, based on your own lifestyle. To you, it’s not practical, and there’s nothing wrong with that. To someone else, they could lose tons of money and time that makes a messily $1200 seem like a very tiny price to pay. Now, don’t get me wrong... lots of people try to keep up with the latest tech while not actually needing the specs. That IS ridiculous. I always ask myself 3 questions. 1)Does the benefit outweigh the cost in a practical sense? 2)Can I spend the money without feeling like I spent much of anything? 3)Do I need it, or want it? Need meaning it’s atleast going to better some aspect of my life. Want meaning it’s a worthless flex. If I can answer yes, yes, and need, then I’ll upgrade. If even one is a no, then I don’t.

@trailrunnah8886 3 жыл бұрын

When I bought my 4Runner two years ago, they pushed hard for me to buy a $3,000 extended warranty. I was like this is the whole reason I'm buying a Toyota, if I was into buying extended warranties I'd be over at the Jeep dealer right now.

@markg999 3 жыл бұрын

So true...no reason at all for extended warranty on a Toyota.

@ezzeldin3714 3 жыл бұрын

Lol

@justinacase2623 3 жыл бұрын

Exactly, did that to my sister when she bought a Camry. A Camry! Let that sink in.

@mikebrownbassist802 3 жыл бұрын

🤣🤣

@LG123ABC 3 жыл бұрын

Drove a Jeep Grand Cherokee for years and never had any problems with it (and I wasn't stuck driving a boring Toyota).

@randygreenfield4312 3 жыл бұрын

People get phone insurance, but not life insurance 🤔

@ezzeldin3714 3 жыл бұрын

Life insurance is the biggest scam in the modern world

@mikebrownbassist802 3 жыл бұрын

Ezz Eldin Not term insurance! People without term insurance risk devastating their family when they die.

@randygreenfield4312 3 жыл бұрын

Ezz Eldin - I disagree it’s only a scam if you have the money stacked up . Hence the term more dead than alive

@3skFq7pSM8tcFfF 3 жыл бұрын

Wait. You can get phone insurance?

@rudysalas9138 3 жыл бұрын

I dont get warranty, but i do got Term Life insurance!

@semilladearandano 3 жыл бұрын

Haven't watched this and already know the answer....NO. Thanks Papa Dave!

@moneybee 3 жыл бұрын

Extended warranties play on emotions, and Dave's points here are great. They wouldn't sell them if they weren't making money off people buying them. So while they sometimes come in handy, the cards are stacked so more likely you'll pay more than you get out of it!

@buckshot5208 3 жыл бұрын

Nothing would ever be sold if there was not a product to be made

@PantherGeek7 3 жыл бұрын

Is there any way to decrease the volume of the music that always plays at the beginning of the video? It’s so loud compared with the rest of the video.

@jeffreywhitaker5154 3 жыл бұрын

I agree, it its irritating and LOUD. I have my cursor on the 'mute' button everytime im about to click on the epsiode, then unlcick it after the irritatingly loud intro.

@BrendanEvan 3 жыл бұрын

They need to edit that before uploading

@edkennedy7952 3 жыл бұрын

Ya, hit the mute button.

@nkley1 3 жыл бұрын

I thought it was just me, but I have to push my headphones off slightly until it stops......please, make it stop😂❤️

@bottitabaki3073 3 жыл бұрын

Yes thank you for that

@andrewpoli 3 жыл бұрын

If you're getting extending warranty for your phone, the phone is too expensive for you. Downgrade.

@ordinaryhuman5645 3 жыл бұрын

That's probably true for any warranty. If you can't take care of a phone and stop it from breaking then you probably should have a different phone. Something more brick-like, or a cheap and more disposable phone.

@GW-df6tf 3 жыл бұрын

I have extended warranty up to 2 years on both of my two credit cards if I pay 100% using them. That’s sufficient. Since most problems will occur during first 2 years.

@pkal244 3 жыл бұрын

Her 2yr warranty costs about as much as my used Pixel 3. That's $800 for investing. Buying new phones should be considered like buying new cars. Don't do it!

@bindingcurve 3 жыл бұрын

@@pkal244 dude, a 4a is $350. Buy new phones, just not $600 plus new phones.

@pkal244 3 жыл бұрын

@@bindingcurve can't fault you for that choice! I prefer front facing speakers though and I got my P3 over $100 cheaper than a new 4a but I'm a penny pincher so it makes sense for me :p

@JoeGarofaloII 3 жыл бұрын

I never get anything extra for phones. 110% of the time with phones, if you try to bring it in and have it fixed they always claim that you dropped it or something else happened that voids the warranty or or is not included in it

@aolvaar8792 3 жыл бұрын

???? You call Apple, Applecare+, $100 deductible, they send you a NEW iPhone, you return the old iPhone in the same box.

@cmoore806 3 жыл бұрын

I was expecting to hear that “$200 in some growth stock mutual funds and you could buy the phone company in 30 years”

@dannyhantx 3 жыл бұрын

The best warranty for a $1000 phone is to not buy a $1000 phone.

@tymom9313 3 жыл бұрын

Unless u can replace it w/o crying

@IHateNicolasCage 3 жыл бұрын

But you don’t understand. It’s totally different than the previous model. I don’t know HOW it’s different, but it’s newer and the commercials have celebrities!

@evacody1249 2 жыл бұрын

@@IHateNicolasCage I like what a youtuber J Williams says. Half the phones are not worhter what they are and a large number of people don't even use all the features on the phone.

@Mistyfgdf 3 жыл бұрын

Its a scam for people who dont save!

@Ryan_DeWitt 3 жыл бұрын

When I worked in retail as a teenager, they pushed us so hard to sell extended warranties. That was because they were so profitable for them.

@NoIDAvailable 7 ай бұрын

Of course. It’s 100% margin, and most likely it won’t be used.

@JAMOND504 3 жыл бұрын

He basically told her in a nice way to buy a cheaper phone she can afford to replace

@aquaticasmr184 3 жыл бұрын

Time is money faster phone gets work done. I could buy 5 phones id still pay 5 dollars a month for my damage protection

@chrisreynolds6391 3 жыл бұрын

@@aquaticasmr184 but the network speed is the bottleneck.

@aquaticasmr184 3 жыл бұрын

@@chrisreynolds6391 wifi

@chrisreynolds6391 3 жыл бұрын

@@aquaticasmr184 laptop

@aquaticasmr184 3 жыл бұрын

@@chrisreynolds6391 a good laptop is just as much as a phone I use my phone way.more than any laptop I cant imagine pulling out my laptop to process an ecommerce order on my website when I can do it on my phone faster

@Jumperman12mac 3 жыл бұрын

I remembered most kids in high school having the new Iphones everytime a new one was released. Like man, were parents that cool with buying their children new phones or what? I bought my HTC phone back then for about 400 bucks cash and used it until the end of Senior year

@juggernautAA12 3 жыл бұрын

who

@guhbe385 3 жыл бұрын

I was the kid with the new iphone , min wage job money goes far at 15-17 no real bills

@codyh9155 3 жыл бұрын

Phones aren't the half of it, knew plenty of kids in High School who got brand new cars (Mustang, BMW, Audi, Jeep, Raptor) without ever working. Can't blame the kids, its not like I would have turned it down if I were them.

@shutupandeatasmr4498 3 жыл бұрын

Haha I remember that phone! If it were HTC windows, I use to work at Tmobile and sold that a lot. I’m shocked at how expensive phones are now a days. The most expensive phone ive ever purchaed was the iPhone X and im keeping this forever!!!

@guillermogutierrez-santana4446 3 жыл бұрын

Cody H Some towns in my state, 16 year old kids get a Mercedes G-Wagon as their first car.

@angryarkie1642 3 жыл бұрын

I have used extended warranty on things 75% of the time.. I started getting it because the first big thing (refrigerator) quit working five days after purchase warranty. While I’m not saying it’s wise on a phone, I have saved $10k in repairs with $2k in extended warranties.. your results may vary.. but..

@CDTucker336 3 жыл бұрын

Replacement warranty is different though. I always buy the 2 year warranty on headphones. Cost is about 7 dollars for 100 dollar headphones. After a year they break and I get my 100 back. I get it through Walmart.

@whitney6641 3 жыл бұрын

Yep the walmart replacement plans are awesome!

@dfarias873 3 жыл бұрын

Do you need the receipt for that? I have one for my controller but lost the receipt.

@CDTucker336 3 жыл бұрын

@@dfarias873 If you registered it the receipt when you bought it you can look it up on asurion website.

@zybard01 3 жыл бұрын

She said warranty but was she talking "insurance" for cracked screen, water damage? cause some of you all need that like you need Jesus. Man do not take your $1,000 phone to the toilet and wonder why it fell in

@riverdaletales8457 3 жыл бұрын

You can just learn how to fix a phone screen plenty of youtube videos there is that show you .

@jamescordes8673 3 жыл бұрын

I’ve used these warrantees twice. Once with my router and once with my couch. When the fabric on me couch started peeling away I tried using the warrantee. The one that when it was sold covers all damage. They declined the repair and told me it wasn’t covered. When the router went it was covered. The problem is we had to wait for the company to send a box to return the router. Then when they received it they would mail us a gift card. So dumb. Both cases the warrantee company was a 3rd party place. Never again.

@verfed 3 жыл бұрын

"If you can't afford to fix or replace your device, you can't afford it." It's as simple as that guys. Raise your kids on Dave Ramsey and we may save the country.

@ChrisMFlorida 3 жыл бұрын

truth!

@angryarkie1642 3 жыл бұрын

LOL!!

@moneybee 3 жыл бұрын

Poetry!

@LG123ABC 3 жыл бұрын

I'm afraid that it's too late. Have you read some of the comments here on Dave's channel?

@belmen7002 3 жыл бұрын

Personally, I have an extended warranty on all my pencils.

@Faith-un7ns 3 жыл бұрын

😂

@tomdrummy4984 3 жыл бұрын

Never buy an extended warranty on anything. Simple

@unfairsanic5089 3 жыл бұрын

Lolz even on the car I own dosent have extended warranty and its a toyota

@insideoutsideupsidedown2218 3 жыл бұрын

Bought an extended warranty on my 07 Honda. Before the warranty period expired, I had a window motor and the power steering rack replaced on the car. I paid $500 for the warranty, and had $1400 of repairs done on the vehicle. I came out ahead. But I generally do not get extended warranties

@jared6361 3 жыл бұрын

@@insideoutsideupsidedown2218 yes, in some cases extended warranties are good. But most of the time they're bad.

@billgateskilledmyuncle23 3 жыл бұрын

@@insideoutsideupsidedown2218 I'm shocked they didn't loophole their way out of those repairs.

@jasonpayne4820 Жыл бұрын

I bought a Lifetime Mopar Warranty for my 2012 Town and County. Best financial decision of my life.

@kswiftful 3 жыл бұрын

Idk, just for a screen replacement on an iPhone 11 Pro Max out of warranty is $329. Applecare (which I assume is what she is referring to) does cost 200. It's still a bit less than if you break it, and way less than if it's stolen.

@mikedroz2301 3 жыл бұрын

I spent years selling electronics and appliances and the accompanying extended warranty. I gotta say, I've seen it work out great for people, including my family. I will always get it on TVs and refrigerators.

@nickmauldin8825 3 жыл бұрын

Back when they gave you a free phone with a 2 year contract, Best Buy tried to sell me a extended warranty on it. I said no. Got the sales pitch “it’ll fix this and that”, I said “the phone was free...if it breaks I’m throwing it away and getting another”. Lol. They thought I was insane for not getting it.

@trailrunnah8886 3 жыл бұрын

I miss those days. I always took the free phone, never felt any need to upgrade. I hate paying for phones now. I try to use them as long as I can before replacing.

@shutupandeatasmr4498 3 жыл бұрын

Yup I worked at tmobile and when you signed a two year contract we gave away free Blackberrys and Galaxys back then. So easy

@LG123ABC 3 жыл бұрын

Years ago I was buying some type of electronic device at Circuit City (if I remember correctly) and the cashier was trying to get me to purchase an extended warranty because it would cover any potential problem that might possibly occur. I just looked at her and said "But that wouldn't be sporting!" She just looked confused and rang my order up without saying anything more.

@nickmauldin8825 3 жыл бұрын

Big Foot I think this was pre smart phone.

@Julian-zc9vm 3 жыл бұрын

18 months later when she drops it the phone will be worth $300 and they will charge her a $100 deductible to repair it. The warranty might not even cover accidental damage.

@leyvaj91 3 жыл бұрын

I normally agree with you except for cars. I bought a new car and it turned out to be a lemon 2 years later, the dealer has spent 8k so far repair ac, steering racks, and etc.

@evacody1249 2 жыл бұрын

Here's why you don't need the warranty. Nine times out of ten if there is an issue with the car even out of warranty like a recall it has to be fixed for free. So unless the car dealer or company wants to be sued. Don't buy the longer warranty.

@ID2011 3 жыл бұрын

Sell the phone, beans and rice 😂😂

@kylebuchanan3280 3 жыл бұрын

It’s not worth it to be honest I would recommend getting an outer box phone case or a heavy duty case

@trailrunnah8886 3 жыл бұрын

OtterBoxes are awesome! I've had one on my phone since I got it, I've dropped and slammed this thing around so much it's not even funny. Going on three years now, and no problems. The other day I even purposely whipped it down at the concrete to demonstrate to my girlfriend how good the OtterBox is, LOL.

@robertoramos8257 3 жыл бұрын

Lifeprood by otterbox is great too with lifetime warranty I'm already on my 4th case under warranty in 4 years that I've had my phone

@janetabbot46 3 жыл бұрын

OtterBoxes are amazing. Every iPhone I issue to my work crews are encased in an OtterBox. The phones have been dropped 10-15 feet through attic openings, dropped onto concrete, smacked against hard surfaces, etc. The only time I see one come back is when the battery starts having charging issues or it won’t update the iOS anymore - never a cracked screen or a damaged housing.

@S5King7 3 жыл бұрын

Definitely good advice for drop protection, but what about loss or theft? I'm an old guy that stays home, but young people run around so much their risk of losing a phone is very high.

@Faith-un7ns 3 жыл бұрын

They tried selling me an extended warranty on my washer and dryer one time. I said no and she kept on bugging me to get it. I told her why are you selling me junk. She shut right up.

@hmmichael438 3 жыл бұрын

The emergency phone is the perfect extended warranty

@loritersigni3493 3 жыл бұрын

Love love love your commentary !!

@mddifilippo89 3 жыл бұрын

I think the reason she called in is because the cost of the screen is half of the price of the phone and people break the screens alot.

@babyshark646 3 жыл бұрын

This man has, cleared my finances up. My iPhone XR is out of contract now and I am going sim only, I was paying £40 a month now £8.80 for almost same package minus phone.

@jolyvincent 3 жыл бұрын

I’m amazed that some folks are still wondering if they should buy an extended warranty on a phone that they will keep for two years when the manufacturer covers the first year and your credit card will cover one repair in the second. Yes you might be unlucky with one of your devices like I was recently: credit card covered the 450$ screen repair at Apple and I smashed the rear glass two weeks later. Self insured and repaired it myself for 120$...

@michaelpetrus4912 3 жыл бұрын

Credit cards are bad

@blackworldtraveler3711 3 жыл бұрын

@@michaelpetrus4912 Like whiskey to an alcoholic for the financially stupid

@doompod 3 жыл бұрын

Apple will not cover accidental damages on iPhones. If you dropped it, you’re paying for it regardless. You’ll either pay the In Warranty price or Out of Warranty price.

@blackworldtraveler3711 3 жыл бұрын

Justin Zetzer I bet more than half of the people with Apple Care have no clue what it covers.

@doompod 3 жыл бұрын

@@blackworldtraveler3711 You're probably not wrong haha I even bought AppleCare+ for my AirPods Pro. Right near the end before it expires, I'm going to use that to trade them in for a replacement [air with a brand new battery, since AirPods are horrible for long-term use because of the small, not-so-long lasting batteries they have. You can SOMETIMES make warranties work for you, but generally the companies are still profiting or not really taking much of a loss. It's like car insurance, it's Russian roulette. Some people are good drivers who won't ever use it, but some will need it. I agree with Dave for the most part. Most of my purchases do not get the extended warranties.

@CarolBennettGA 3 жыл бұрын

I'm on an At&t go phone (LG Phoenix) we bought two years ago. It was $60. Working just fine. That's what we buy every few years. To each their own.

@yamamancha 3 жыл бұрын

My local electronics store has a membership card that rewards points based on the product and purchase price. For 5% of the purchase price in points, you can get an extended warranty for 5 years. I always get that extended warranty and have used it three times on large-ticket items. Saved me lots of money. However, extended warranties in the USA are just profit drivers. I used to work at the Wiz and made so much in commissions on extended warranties.

@untouchable360x 3 жыл бұрын

Dave won’t like this. Some credit cards have free extended warranty.

@jolyvincent 3 жыл бұрын

I think one has to be brain damaged not to take advantage of the extended warranty that credit cards offer on a 1000$ phone

@zunedog31 3 жыл бұрын

Bingo. One of the many reasons to use credit cards.

@Cookieboy70 3 жыл бұрын

Yes. And you would be surprised how much they come to your aid.

@michael567jober 3 жыл бұрын

on what

@Cookieboy70 3 жыл бұрын

Antonio electronica is huge. Usually one year warranty but the good credit cards add another year to it

@experience42 3 жыл бұрын

Although I’ve been pushed, I’ve never bought an extended warranty on any of my phones or any other electronics. I’ve never regretted it.

@BeaverTucky 3 жыл бұрын

I disagree, my current extended warranty on my SUV was 1700 cash, I'm on my 5th replacement taillight assembly, due to water shorting out the led, each time the bill would have been 1300...I'm ahead almost 5k..

@xyzsame4081 3 жыл бұрын

1700 versus value of car is not as ridiculous as 200 for warranty versus a 1,000 USD phone. That is 20 %. The extended warranty seems to have been an marketing offer, is is not much - is for 1 or 2 years ?

@Kay-12345 3 жыл бұрын

I needed to hear this!! Thank u.

@kimmontenegro2258 3 жыл бұрын

I purchased an extended warranty from JCP on my Samsung kitchen appliances. My microwave started having issues. The company came over. They said it needed a new keypad. Then I got a call saying they were totalling it out. Got a check for the full amount. Then the microwave came back to life🤣🤣

@doompod 3 жыл бұрын

I have used it. Broke the back glass on my iPhone XS Max. Apple’s ‘Out of Warranty’ repair is about $550-600 for my phone. I’ve used both $100 accidental damage incidents, so that’s $400 in total for 2 replacement phones vs $550-600 for 1 replacement phone. I even had an Otterbox case on my phone, they aren’t perfect. AppleCare+ is not a bad deal as long as you actually use it.

@kgotter 3 жыл бұрын

This is a straight Apple question 😂

@JH-lu5yg 3 жыл бұрын

I agree for the most part. I may need to get a new fridge soon so I was considering the extended warranty on that. A lot of appliances are junk nowadays, about any brand you look at. Especially refrigerators and washers it seems like. I know someone whose washer broke after 1-2 years. The other issue is it takes about as much money to fix appliances as to replace them.

@bindingcurve 3 жыл бұрын

The real problem is people want fancy, not well built appliances. I have had less issues with basic stuff than complicated.

@Hgospy 3 жыл бұрын

I would add that the time you really find out is a rip-off is when you actually have to use it. That is when you find out the night mare starts and you were ripped off.

@JohnDoe-pf6qp 3 жыл бұрын

I remember some customers that were Dave Ramsey people that refused to buy an extended service contract for their car. They spent $10k on an older Hyundai, had it a year, and the car drove a rod through the engine block. Even with a rebuilt motor the repairs were over $5k. A service contract would've dropped that repair cost to $100. They flushed $10k down the toilet when an extra $1,100 would've saved them. I'd rather have insurance and not need it than the other way around.

@evacody1249 2 жыл бұрын

Here is the problem. He is talking about phones here not cars. Also nine times out of ten if there is an issue with the phone it's on Samsung, Apple, Google, etc. That means they have to replace it any ways.

@mytwocoins 3 жыл бұрын

My current phone is an Iphone 6. Works perfectly fine, never had a warranty issue. I've had a cell phone for two decades and never broken a screen, until just this week. I can get that replaced and go another few years with the phone. However it's lasted so long that I can certainly "afford" to get a $1000 new one. Seems like a waste though to continue making calls.

@pluto3d638 3 жыл бұрын

That's why I use Aspiration. They offer a full-fledged free checking account with a debit card that provides cell phone insurance up to $600 when you pay your monthly phone bill. And I filed a claim a few months ago so it actual works, but there is a $50 deductible.

@Ant0417 3 жыл бұрын

Still using the iPhone 5s I got in 2014. People are suckers.

@MrLohken 3 жыл бұрын

I got a warranty/insurance on my S9+ and pay $20 or so extra a month. I still have to pay them $200 to get the charging port and screen fixed. I've had this phone since it released about 3 years ago and could have saved that money and just bought a new phone when it got some wear and tear on it.

@f_r_e_d 3 жыл бұрын

Let this be a lesson. Also, $20/month for three years is $720 + the $200 for the charging port, you could have bought a brand new phone with money left over today

@carloscampos5469 3 жыл бұрын

Yea but remember also covers theft and loss. I bought a phone and within a year charge port messed up and paid the deductible and 6 months later screen cracked from a fall.. so far ive saved a good amount of money. Imagine i didnt have a warranty i would be on a 3rd phone paying out of pocket for each one.

@aolvaar8792 3 жыл бұрын

A Charging Port, it wireless charges

@waterfire7993 3 жыл бұрын

I used to work at Circuit City way way back in the day. I remember being forced to ask for warranties for every purchase. One time a lady got a fax machine for $40 and the 1 year warranty was $27. Such a rip off.

@kashfortheking 3 жыл бұрын

My car insurance company offer phone insurance. I got a good laugh out of that 😂😂😂

@sasiskabeef5786 3 жыл бұрын

I have a $100 brand new smart phone that does the same as $1000 phone. Has a camera and it can text data gps and call what else do you need from a phone?

@tofupower64 3 жыл бұрын

I got one of those, too! Actually, I got the phone, a case, and a screen protector and got a little change back from $100. I've had it for a year and I'm happy with it.

@Metalandrew210 3 жыл бұрын

My warranty for my BMW 750 was $3200 n over 2 years warranty company paid out $7300

@bindingcurve 3 жыл бұрын

Sometimes you 'win' with a warranty, just like some people win at slots, I would not base my finances on it.

@bobmarker6812 3 жыл бұрын

My 60 dollar flip phone and $18.03 per month. That's all I need.

@DeionSardines 3 жыл бұрын

5:53-5:58 thanks Dave, short & easy to remember. It’s kind of common sense too 😆

@lauraperdue1307 3 жыл бұрын

I’m glad Amber asked this question. I paid for my $1000 phone three years ago (with cash) and was torn between this decision. Decided not to do it. Hoping my phone lasts another two years. The two year warranty would be over now anyway.

@leadnsteel1428 3 жыл бұрын

I wouldn't even spend 1000 on a stupid phone. I just buy them cheap for 300

@ftrucker8753 3 жыл бұрын

The only extended warranty I buy is from best buy for my headphones. Worth the price folks.

@shutupandeatasmr4498 3 жыл бұрын

As someone who use to work at T-mobile and use to rock a old school Nokia WHILE working there whilst being a top salesperson at my store back in 2011, If I buy a phone for $1000, I’m using that Bih for 10 years, period!

@jackofalltrades4844 3 жыл бұрын

Man phones have gotten ridiculous! I bought a $150 phone and can't stand the junker, but $1000 is crazy for a phone!

@Ethan-pd7nu 3 жыл бұрын

I buy a like new phone for $200-$300. Always works great. Bought my Google pixel 2 on clearance due to the 3 coming out for $300 brand new.

@GT95_302 3 жыл бұрын

Yeah, I learned how much of a rip off phone insurance was a couple years ago. After 10 years of paying $8/month, then $11/month. I finally cracked a screen and had to pay 50% of the value of the phone to replace it, via the phone insurance, and didn't even get another new phone. They gave me a used one. If I had just saved that insurance money I could have just bought a brand new phone in cash. Such a waste of money.

@blackworldtraveler3711 3 жыл бұрын

I self insure/warranty everything I buy with my emergency fund since being on my own. The reason my emergency fund kept growing and full blanket 20 year now instead of two years or less. I know if an outside underground water pipe I'm responsible for ever burst it will cost around $4k to repair. It's just math and common sense doing this long before Dave Ramsey. Also people need to take better care of their things. Heck I buy my Iphone with cash and no insurance/warranty and still look brand new after three years.

@hectorortiz91 3 жыл бұрын

We bought an extended warranty for our LG refrigerator just to find out that our refrigerator stopped working 2 months after the extended warranty expired. I had payed over 300 for the warranty wish I would’ve just saved that to put towards my new fridge. Never buy LG!!

@bindingcurve 3 жыл бұрын

Good chance it is bad caps on the control board. You can recap one for less than $10

@muckymucks 3 жыл бұрын

Way back in ancient times I was a kid looking to buy my very own Discman (yes, that long ago). It cost about $40 and the salesman went into a song and dance about protecting “my investment.” It was an impressive pitch until he got to the price. I couldn’t afford the extended warranty even if I wanted to get it so I didn’t. But it taught me real quick that stores will offer an extended warranty on literally anything.

@ericcarbonell9927 3 жыл бұрын

Yes get the extended warranty. The undercoating and with the leftover money buy a time share and lease some solar panels

@Thurgor_Supreme 3 жыл бұрын

If there's anything left over, you can double up at the casino. Then rinse and repeat!

@cgletts 3 жыл бұрын

undercoating is good if u do the rattle can on your back method for 10 bucks a year

@craigcarter400 3 жыл бұрын

Buy whole life insurance while you are at it

@philipgerry5228 3 жыл бұрын

Sometimes the warranty may pay off, but if you buy extended warranties on all of your appliances, cars, home, etc you will not come out ahead in the long run. Remember the $100 copay is on top of the price of the warranty.

@2274brian 3 жыл бұрын

As soon as l read the question l said NO!!! I wasn't even thinking along the lines of Dave's rationale either. After hearing it, my answer is an even bigger NO!!!!!!!

@ryankelly8077 3 жыл бұрын

Idk where you get your data from cuz... but phones like iPhones total cost (units + manufacturing + supply chain) around $450 to make for the entry level ones and $625 for the premium models

@keeler1160 3 жыл бұрын

After owning a samsung galaxy s3 i realized smart phones arent being innovatove anymore so from now on my budget for a phone is $200-$350 everytime when i need a new phone and if i use the phone for three years i feel like then its appropriate to remove the SD card and sim card and dispose the phone for a new one.

@noble78b 3 жыл бұрын

This is not the same as insurance right? I've never had a problem with a phone mechanically, but dropped two. Nine dollars is a small amount to pay for accidental damage or loss. I hate bulky phone cases.

@Montblanc1986 3 жыл бұрын

Make sure you get the flat protection on tires that's about it

@googleuser1456 3 жыл бұрын

Nope.Tire plugs and a small compressor

@Brooklyn_Powers 3 жыл бұрын

Google user Yes. However, you can’t plug a sidewall, if damaged.

@blackworldtraveler3711 3 жыл бұрын

Not necessary. Streets are pristine where I live and I don't drive with bad tires.

@LG123ABC 3 жыл бұрын

@@blackworldtraveler3711 Anyone can pick up a nail.

@hubster4477 3 жыл бұрын

@@googleuser1456 that's it!

@NYCHeckler 3 жыл бұрын

Terrible advice. I’ve never once made it 2 years with an iphone not having an issue that it had to be replaced. Whether lost, mechanical issue, charger port, speaker ect. $200 warranty to save buying another $1000 phone is a deal. Always love when a rich guy acts like another $1000 for a phone is no big deal

@freebein 3 жыл бұрын

My $1200 phones screen broke the other day after 2 years. I used my emergency fund. $200 to fix. Same day and they basically replaced the entire thing. If I wouldn't have saved this money I would have had to buy a whole new phone and end up in another 2 year agreement + possibly another $1200. Thanks Dave!

@bindingcurve 3 жыл бұрын

You payed full price AND had a 2 year contract? Also your 1200 phone is likely the equivalent of a $400 phone now so....

@CarysCorner 3 жыл бұрын

On cars it is worse, and covers far less, but the most important thing to remember, other than they're a rip-off, is extended warranties almost always have a deductible. So now not only have you paid for the extended warranty, but you are going to have to pay an additional amount just to get it fixed.

@SIGSEGV1337 3 жыл бұрын

I'm confused, why do people keep buying new phones?

@MR3DDev 3 жыл бұрын

Because new tech is always cool, if you have the money why not?

@ruedsaar 3 жыл бұрын

Because phones break over time, maybe?

@deropol05 3 жыл бұрын

Because their friends do

@TDubya811 3 жыл бұрын

For me its due to better photo and video quality each year with newer model. I am not gonna carry a SLR camera with me but want the best photos I can take from a device I'll always have on me. If you take a lot of photos why would you waste invest your time recording with a potato - depnds on what you value - Each to their own though. I'd save in areas that others will spend- drive used 10 year old car etc. Also the battery on phones tends to degrade after about 2 years and the trade in deals tend to give me about 30% of the original price back and samsung threw in a set of wireless buds+.

@SIGSEGV1337 3 жыл бұрын

@@MR3DDev Because there are much better things to spend your money on.

@gerikroni1577 3 жыл бұрын

I bought an extended warranty on my BMW M3 and it was the worst decision I ever made. They were a phony company and as soon as I needed them for a repair, they lied about the problem the vehicle had and made any excuse they could to not pay for the repair. BMW fortunately was on my side and belittled the warranty company. Fortunately, I got a full refund back. After that I learned my lesson.

@davidrapant6398 3 жыл бұрын

I just found out I was paying total mobile protection on 5 devices through Verizon. That was 45 dollars a month. I just reduced that to basically the same coverage for my only two phones at 3.00 each so six dollars total. That just saved me 468 dollars this coming year. You have to pay attention to what they are doing when you sign up for all this stuff you don’t need. I may even drop the six dollars but at least I got that huge cost down. Awesome!!!

@catlady2795 3 жыл бұрын

I'm spending 10 a month on phone insurance and can't tell if I am wasting money. Ive had my phone break and they fix it by turning the on off button and then telling you to pay $200 for a replacement phone. I think ive maybe saved $50 by having the insurance to cover their $50 asstistance fee they would have charged me to look at it. They were too dumb to tell me to just do a reset on my phone which I figured out myself by researching online. Then after resetting it it worked like perfect again.

@mikemayo4812 3 жыл бұрын

I paid $40 for an extended warranty for an $800 camera that even covered accidental damage if I were to drop it and break it.

@BiggSneaddd 3 жыл бұрын

You have to think about all the times you have paid for the extended warranty month after month for years and then when your phone do break you still have to pay another $100 on top of one or two already been paying for years. That is what Dave is saying. I agree with Dave Ramsey I don't know about extended warranties on. (Example: Had phone for 4yrs and extended warranty is $12 month. 12 x 12 = $144. Then take 144 x 4yrs = $576 plus $100 wen phone actually breaks = $676.... Now who do think is winning 🤔

@mikemayo4812 3 жыл бұрын

@@BiggSneaddd This was $40 for the entire 3 year warranty. Much cheaper and I tend to be clumsy and drop stuff all the time.

@ChrisMFlorida 3 жыл бұрын

That's worth considering.. but $200 on a $1000 phone is a bit much. Same with cars that cost $30k and the extended warranty is $2-3k.. crazy. Oh and try to use that extended warranty and they will do everything possible to deny the claim.

@aolvaar8792 3 жыл бұрын

@@ChrisMFlorida How about $500 on a $100K home( the garbage disposal, Builtin Microwave, Gas range) replaced on move in.

@gameover-wy5ij 3 жыл бұрын

this is true for all insurances. the company has to make a profit. i never buy insurances besides for things that i cannot buy back with cash if they broke/burn... i only have insurance for my apartment.

@edkennedy7952 3 жыл бұрын

This channel is more entertaining than anything thats on T.V

@emilybelville7904 3 жыл бұрын

"Best Buy has great prices" XD

@mmctavish6666 3 жыл бұрын

Here I’m Canada Best Buy is ridiculous. Stopped going there for anything over 20 bucks

@MrJay197409 3 жыл бұрын

Warranty on phone is a waste because half the price of the phone price is the debuctible usually. Your paying monthly not just a one time fee. I did buy extended warranty on my Xbox one x for $40 for three years. I figure no way I can get it fixed it repaired for under $40. To me is worth it. Best Buy is ok but not the Best buy just me.

@pinklobelia2389 3 жыл бұрын

I don’t totally agree with Dave here, but $200 is too much for a $1000 phone. If the extended warranty is low enough compared to the price of the item, they may be worth it. I spent around $30 to $40 dollars on my $400 PS4, which went defective after the manufacturer’s warranty. Due to the extended warranty, I got a replacement. I don’t get warranties on items that I have a low probability of breaking, like prescription eyeglasses.

@jayj4439 3 жыл бұрын

My phone is over 2 years old and idc it dials and texts just like yours! but I got baby step 1 complete. I'm sure this caller doesnt!!

@JoseHernandez-xy8mj 3 жыл бұрын

Best buy one of the worst prices IMO i see other stores sell lower price

@trolli1266 3 жыл бұрын

I do believe they are running out of things to either put on a phone or a Ways to change their look to make profit. I have an iPhone SE that was released in 2016 and they recently brought out a different style with the same name looks no different than the iPhone 7 or eight.

@Anima_moxhya 3 жыл бұрын

I buy a decent cheap smartphone that lastme at least 3 years

@MR3DDev 3 жыл бұрын

I am big into tech and I love buying new phones, if you need an extended warranty you are not grown up or mature enough to carry a $1000 phone.

@skunkycatog 3 жыл бұрын

I’ve never had any issues with square trade warranties, so if they offer square trade I take it, and so far it has worked out great.

@HellBoy8896 3 жыл бұрын

I pretty sure she is bought an iPhone 11 Pro and she is talking about the Apple care which is an insurance and not an extended warranty! Warranty covers defects and insurance covers everything else. If she is clumsy with her phone she should get it.... having said that I agree with Dave’s sentiment that if you can’t afford to replace don’t buy it.

@soju69jinro 3 жыл бұрын

go to a repair shop, you'll pay like 80-100 dollars for repairs... that's 2 visits compared to 1 warranty

@IsaacMendoza0301 3 жыл бұрын

Yeah that’s how T-Mobile tried to get me with their insurance 20 dollars a month just to tell me I had to go to the apple store and that they can’t take my phone I was like wow

@muckymucks 3 жыл бұрын

I’m guessing this was within the first year of the life of the phone? Every electronic device has a one-year warranty right out of the box from the manufacturer. That’s why they told you to take it to Apple. Another reason extended warranties are scams.

@AnkitVoraJ 3 жыл бұрын

Get a Betterment checking account or Wells Fargo credit card, they cover up to $600 of replacing the phone in case if its stolen or damaged.

@workliferecognition7002 3 жыл бұрын

Boost offers 7 mth insurance for replacement if it were to break lost or stolen. Why a warranty? But I can see where dave is coming from. Say i have a chance to buy a 7/mth insurance on my phone. Not bad right. Good deal actually. I'm looking at a phone for 200. If you divide that by 7 you get 28.6. So in 29 mths I would have paid 200 for insurance. That 2.5 yrs. By then the very same phone I'm currently looking at would be a lot cheaper by then. That's 200 i could have in pocket for phone replacemnt if i chose against 7 insurance. By the time I put 200 into insurance the phone wouldn't even be worth the cost anymore. 200 for an upgraded phone.