When I buy new gadgets, electronics like laptops, iPods, e-readers and even cars--Should I get the extended warranty?

It depends on what you’re buying, how expensive the item is, what sort of coverage you’re getting (warranties that cover accidents are pricy but they’re also great if you’re a klutz). Best buy gave me full coverage on my laptop. Which meant I got a brand new laptop for $600 (the cost of the warranty). With the car, it depends on how long you’re planning on keeping the car. Also depends on the deal you’re getting. I couldnt get toyota to fix the car even when it was under the manufacturer’s warranty. Meaning there’s no way I’d ever get an extended warranty with them. There’s a cellphone warranty that would have cost me the price of the phone over a year (not sure why anyone in their right mind would buy this one). I honestly dont think there’s a simple answer to this one. If the place honors its agreements and it’s something that has a high potential of getting spoilt (say a laptop), then yeah. You just balance out the risk vs. gain.

Thanks Ty! Never gotten 5 points before, I think…. Now that you mention the laptop. I bought a laptop once at Circuit City and after a year the hinges that hold the screen broke. So I call them and they told me that the hinges were not covered because it was wear and tear and not something that could be labeled a factory defect. I didn’t read the fine print and it was not full coverage. I learned my lesson after that one. I ended up buying the hinges on ebay and fixing it myself.