Perhaps the best indicator of whether or not something has become a bona fide social phenomenon is if it gets parodied in the media (i.e. TV show, movie, internet, etc ). Extended warranty services, for whatever reason, have somewhat of a dubious reputation among many consumers.

Case in point: On an episode of  The Simpsons,  they explain that one of the reasons for Homer s, shall we say mental challenges, is that when he was a kid he shoved an entire box of Crayons up his nose, one of them became lodged in his brain. He has it surgically removed; however, doesn t like that his resulting super intelligence has significantly changed his personality. So, he has Moe the bartender hammer it back into his brain through his nostril. Moe isn t sure that Homer s dumb enough until Homer utters the phrase,  Extended warranty? How can I lose? 

As funny as that line is, it exposes a fundamental flaw in some consumers  logic: extended warranty = scam. For whatever reason, the concept of purchasing extended warranty services is for some people on the same level as working for a pyramid scheme or earning their medical degree from  Hollywood Upstairs Doctor s College. 

In this article, we here at TopTenREVIEWS will discuss some of the commonly perceived myths and misconceptions of extended warranty services. Additionally, we will include some information that may debunk some of these myths. Listed below are the misconceptions that seem to crop up the most, followed by a brief explanation of why we feel this is just a myth and not fact.

The purchased items will not fail or breakdown during the prescribed period.

This thought process can best be described as naivet . Obviously these people have never heard of  Murphy s law,  which to remind you states,  Anything that can go wrong, will go wrong.  Extended warranty services can help you plan for these eventualities.

Customers associate the quality of the product with the length of coverage.

It s important to note here that warranties are like people: they re not all made the same. Coverage on parts, labor and repair can vary extensively. For example, if two car stereos have identical performance features, but one comes with a 12-year warranty and the other a 10-year warranty, don t automatically assume that the one with the 12-year warranty is of superior quality.

Customers are suckered into thinking that the warranties themselves are free.

Ray Charles played a music store owner in the movie  The Blues Brothers.  In one scene, he uses this line as part of his sales pitch for a piano:  And I ll throw in the black keys for free.  Typically, that s what s happening here. Retailers are advertising free extended warranty services when in reality, the price for the warranty is included in the price of the product.

Manufacturers engineer products to fail right after their warranty expires.

Paranoia will destroy ya, to quote another clich . There is no substantial reason to believe that manufacturers would risk their reputations on a scam like this. If a company would actually do this, it would mean that all of their products would fail in a relatively short period of time. Not only could this mean that their scam would be easily found out, but it could also mean that they would not be in business very long.

At TopTenREVIEWS We Do the Research So You Don't Have To. 

More Top Stories