Financial Planning Versus Extended Warranty
When it comes to buying an extended warranty I always say no. For small appliances that break down I would rather just replace it than have it fixed. A vehicle should last ten years or more with proper maintenance so why would I spend thousands on a used vehicle extended warranty. Once the car is paid for the payments can than be saved for repairs as needed. I remember my mom doing something similar with her washer and dryer. Every time she washed a load of clothes she would place coins in a jar as if she had to go to the laundromat. This money was for repair or replacement so she would never have to use a laundromat again.
