Extended warranty issue

  1. I purchased an extended warranty for my Plasma TV...the TV has some defects and the parts that are needed are no longer manufactured.

    The people I bought the extended warranty offered me a store credit for $1300 but when I purchased the TV I paid $2700.

    Am I suppose to accept this...the warranty contract says that if they can't fix it they will give me a TV of equal value.

    I purchased the TV two years ago and is worth less now, but I feel they should give me a credit for what I actually paid for the TV.

    What do you guys think?
     
  2. I would feel the same as you! I know things depreciate, but you purchased a warranty and were under the impression it would be replaced. I guess the fine print will get ya! It seems like they could replace it with the same TV somehow... like they would keep old stock in their warehouse for issues like this. Is it the store warranty or the company's? Well, I hope this gets resolved for you because only giving you half of what you paid for it when it's only two years old doesn't seem like a fair deal :sad: Maybe you could take the matter to someone higher up on the ladder? What good is a warranty if they're going to go and do this?
     
  3. The only way to know is to read the fine print of the contract and see if they really do owe you the full purchase price. But also keep in mind if they refuse that these types of TVs have come down substantially in price, and you can get a much better TV for less money, so you may wind up ahead anyway.
     
  4. i would take the $1300, plasma televisions have really declined in value and are going to be gradually replaced by the LCD's
     
  5. The find print says we will give you a TV of the same value...doesn't same value means what I paid for the TV initially?
     
  6. I would have read that to mean a comparable TV, at current market prices.
     

  7. Thank you...I guess I'm just going to have to accept that and be done with it. I don't think it makes sense to buy an extended warranty if things depreciate over time...you might as well just get something new when the old breaks down.

    Thanks everybody for your inputs.
     
  8. i work at best buy, so i may be able to shed some light.

    for the service plan, which probably cost you between $200 and $300, we promise to replace your tv with the most comparable model we have. with high technology like flat pannel televisions and computers, the most comparable model a couple years down the line is most likely going to vary in price a LOT, but we can't tell how much that will be when we sell you the tv, and it would be a terrible business decision to basically give you a refund - the tv you get for that would not be at all comparable to the one we promised to replace with a comparable model. if we did that, every single person would buy the service plan, wait two years, break their tv, and then take us to the cleaners for a tv twice as nice as the one they originally bought for free. as tv prices go down, our profit margins go down drastically, and doing that would basically put us out of business.

    also, our insurance company, not the retailers themselves, set the terms of the service plans. it is TOTALLY standard in things like homeowners insurance to replace damaged belongings (like a tv struck by lightening) with product of a comparable value - NOT the original retail value. there's not an insurance company in the world that will provide for that, and the service plan that you bought is basically an insurance policy. you're getting fair market value for your defective tv, which is what every insurance policy you'll ever read guarantees, whether it's a service plan or regular insurance from a company like State Farm.

    on the other hand, i work mostly in our appliance department. because appliances don't rapidly depreciate in value like tvs and computers, we give original purchase price when a service plan return is authorized. if you bought a washer for $999 three years ago, you'll get $999 to pick out any new one you want today.

    in each case, we're doing what's logical, please try to see it from that perspective. you're getting a new tv for basically whatever you paid for the service plan instead of having to shell out well over a grand in order to get a comparable replacement. if you'd like to upgrade, you can use your $1300 towards a nicer tv, i'm sure. we're giving you exactly what we promised you, but the price of a comparable tv has changed, which is something that we as a retailer have absolutely NO control over. so, if the service plan cost $300, you're essentially saving $1000 off of a new tv, and had you not bought the service plan, the manufacturer would have told you that you were basically SOL.

    if you're getting a tv that's the same size and the same technology (actually, it's probably better technology since the components that tvs are made with have increased in quality in the past few years)...then what's the problem?
     
  9. ^^Thank you Amanda for explaining this to me...I feel much better now...I just wanted to make sure I wasn't loosing on this deal. The warranty for this TV was actually $699.99 for 36 months and I need it to make sure I'm getting what I paid for.
     
  10. I might do a bit further research first! Find out what is a comparable model to what you had (you can probably contact the company that makes your TV)...and make sure that number matches the $1300 they are offering.
     
  11. :wtf: that's a lot for a service plan. where did you buy the tv?

    and if you want, i sell home theater as well as appliances, if you give me the model number of your tv i'll tell you if the $1300 is fair for the features that your old tv had.
     

  12. Great...thanks for trying to help me. The model number is HPR4262--it is a 42" HD Plasma TV.
     
  13. http://www.bestbuy.com/site/olspage.jsp?skuId=8251633&type=product&id=1169512522199

    this is basically the new model of your tv, it's the same resolution and size. it retails at $1500, so i might see if you could negotiate them up a bit, but flat panel tvs go on sale a lot, and this particular one is on sale for $1349 right now, so what they gave you is about right (it's not an exact science, they base it on what they have in store and their price points, so every retailer will vary a bit).
     
  14. Thank you so much Amanda for taking the time to do this...I will go to the store in a bit and see if they have that same TV there. Another question...do you think I need to bring my old TV in with me or do they need to pick it up themselves.
     
  15. depends on the retailer. if you have a vehicle that will accomodate your tv and want to try and take your new one home today (if they have it in stock), i'd go ahead and cart it in. since i don't know what retailer you are working with, it's hard for me to say what their policy on picking up a tv will be, so if you have the capacity to carry in the tv, that's probably the simplest way to do it.

    if the retailer is NOT best buy and they have that tv for over $1349, ask them to price match best buy. most retailers will do that as long as they can verify the price (which they can by checking our website or calling us). that way, you won't have to pay very much price difference.