Although nearly two-thirds of customers (62 percent) considered the guarantees to be valuable, and while more than half of consumers (57 percent) said their warranty helped them last year, only 47% of consumers buy extended warranties. You can probably guess why sellers try so hard. They usually cost around 20 percent of the purchase price and can cost even more.
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What is the average monthly cost of a home warranty?
Most companies offer several plans with different premiums depending on coverage. Monthly costs vary depending on the home warranty company, the plan, if you add optional coverage, where you live, the size of your home, and other factors.
Why might sellers want to offer a home warranty to buyers?
A seller would offer a home warranty to make their home more attractive to prospective buyers. A home with warranty is more likely to sell quickly, as home warranty protection gives the buyer more confidence and peace of mind with their purchase.
Is it a good idea to buy an extended warranty?
When it comes to the long-term cost of your car, extended warranties are generally “a bad deal,” Gillis says. In a Consumer Reports survey, 55% of people who bought an extended warranty never used it.
Why should you never buy the extended warranty?
But it's not really free if you paid more for it. Extended warranties are too expensive and add up quickly.
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