What Is The Value In Buying An Extended Warranty?

You’ve budgeted for it for months. Now, finally, you’re in the store, buying your long-awaited (fill-in-the-blank: dishwasher, iPhone, smartwatch, used car). “Would you like an extended warranty with that?” you’re asked.

Hmmm. “Do I?” you think.

Typically, extended warranties are a relatively low-cost add-on to your pricey electronic, car, or even home purchase. So it may seem like a no-brainer to buy an additional protection plan for a fraction of the cost of the item itself.