Teaching you to embrace today while making yourself a millionaire!

I wish I would have understood how easy it is to become a millionaire by starting to save small amounts of money when I was younger...

I feel compelled to share the simple concepts you can apply today....


28 September 2010

Maintenance Warranties

Whether you buy a car, house, computer, cell phone, or washer and dryer – at some point, you'll be asked if you're interested in purchasing an extended warranty. In some cases – this can be a good thing! We know someone who bought a brand new car (brand will remain nameless) to find that the car was a complete lemon, and she routinely had the car in the shop. She hadn't bought the extended warranty so when the basic warranty ran out – the car was traded in! The deal cost her quite a bit because she had to roll over the balance she owed on the lemon to a new car payment.

The problem with extended warranty's is that there are so many "if's, and's, and but's" about the guarantee. Chances are good when you're in the heat of the sale, you're so overcome with paperwork and dollar figures – taking the time to analyze the value of an extended warranty may not rank high on your priority list.

Enter negotiating tactics… If you're advised that the extended warranty offer is only available during the initial purchase – walk from it. They don't care about what's financially viable for you – they care about added commissions or recognition for the sale! Instead, find out if there is a timeframe from the initial purchase during which you can consider it and the shop the same warranty directly with the manufacturer! Skipping the middle man may save you considerably!

Maintenance costs get so expensive and so that's why salespeople rely so heavily on the concept of an extended warranty…they know the equipment they are selling won't last forever and they know the cost of repairs can sometimes be astronomical. However, if those repairs are needed due to normal wear and tear – you'll be paying from your own pocket anyway.

Think smart and shop smart!

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