Get It In Writing

ANCHOR LEAD IN:
EVER BUY AN EXTENDED WARRANTY AFTER LISTENING TO A GREAT SALES PITCH? SURE IT SOUNDS LIKE GOOD PROTECTION, BUT WHAT HAPPENS IF THE SALESPERSON MAKES A MISTAKE, PROMISES YOU SOMETHING THE COMPANY CAN'T DELIVER.
CONSUMER EXPERTS SAY IT HAPPENS...AND QUITE OFTEN. HERE'S _______ WITH THIS WARRANTY WARNING.

TRACK ONE Length: 05
MIKE BLOOM IS A VERY SAVVY SELLER... HE'S GOT A GOOD ANTIQUES BUSINESS GOING ONLINE.

SOT
KEY @: 07 Mike Bloom, Bought a Warranty
"We needed to take pictures of the articles to put them on the website."

TRACK TWO Length: 07
HE THOUGHT HE WAS A SAVVY BUYER, TOO. HE PICKED UP THIS CAMERA...AND AT THE URGING OF THE SALESMAN... BOUGHT A FOUR- YEAR EXTENDED WARRANTY.

SOT
KEY @ :17 Mike Bloom, Bought a Warranty
"He said that if anything were ever to go wrong with the camera, just as long as we didn't hit with a hammer it would be sent away at absolutely no cost to us and be fully repaired."

TRACK THREE Length: 06
BUT WHEN THE BATTERY DOOR NO LONGER SNAPPED SHUT ... CAUSING THE CAMERA NOT TO WORK...MIKE WAS SHOCKED AT THE STORE'S RESPONSE.

SOT
KEY @ : 33 Mike Bloom, Bought a Warranty
"They determined that the repair that was going to be necessary was not covered under the extended warranty."

TRACK FOUR Length: 13
THAT'S RIGHT! THE SALESMAN'S PROMISES DIDN'T HOLD UP AND THE STORE SAID IT WOULD COST MIKE $260 TO FIX IT!
GREG MCBRIDE WITH BANKRATE DOT COM SAYS IT'S THE BIGGEST WARRANTY MISTAKE YOU CAN MAKE--- NOT MAKING SURE THOSE VERBAL PROMISES ARE IN WRITING.

SOT
KEY @ : 54 Greg McBride, Bankrate.com
"Unless the consumer has something in writing, some form of documentation, they don't have much to stand on."

TRACK FIVE Length:03
READ OVER TERMS AND CONDITIONS WITH THE SALESPERSON.

SOT
KEY @ : 1:06 Greg McBride, Bankrate.com
"Is there a particular expiration date, if there's any type of other damage that has been inflicted on the item, does that null and void any warranty that was in place."

TRACK SIX Length: 02
AND IT'S CRUCIAL TO KEEP THE PAPERWORK.

SOT
KEY @ : 1:15 Greg McBride, Bankrate.com
"Documentation is the key that unlocks the value of the warranty."

TRACK SEVEN Length: 09
MIKE DIDN'T PAY THE $260. HE FIXED THE CAMERA ON HIS OWN... BY TAPING THE DOOR SHUT. AS FOR FUTURE WARRANTY PITCHES- MIKE SAYS HE'LL READ THE FINE PRINT.

SOT
KEY @ : 1:28 Mike Bloom, Bought a Warranty
"I'll be taking a long, hard, look at their terms and conditions before I ever consider buying another extended warranty."

ANCHOR TAG:
BANKRATE'S GREG MCBRIDE ALSO SAYS YOU DON'T NEED A WARRANTY FOR EVERYTHING-CONSIDER BUYING THEM FOR BIG TICKET ITEMS OR ITEMS THAT CARRY BIG REPAIR BILLS.

SOURCES

Greg McBride
Bankrate.com
11811 U.S. Highway 1
North Palm Beach, FL 33408
Tel: 561-630-2400
PR Contact: Chantal von Alvenslaben (ext. 1295)
Email: Cvon@bankrate.com
Greg McBride is a Senior Financial Analyst with Bankrate.com.