I'm looking at buying a riding mower at Lowes and their 3 yr. protection plan looks pretty appealing (cost approx. $375) as far as what it covers. Has anyone had any experience with using this service plan on a mower purchased from Lowes.
Lowes 3 yr. protection plan on riding mower
- Thread starter Electromotive
- Start date
1. I always take risk and don't do extended warranties.
2. Make sure you know who Lowes is going to do the work.
3. I have had some warranty issues in the first year of service and none after that, so I do self-insure. All other repairs were after year 4. First yr warranty comes with the tractor.
2. Make sure you know who Lowes is going to do the work.
3. I have had some warranty issues in the first year of service and none after that, so I do self-insure. All other repairs were after year 4. First yr warranty comes with the tractor.
When I remember looking into one for a log splitter it seemed to be okay. I think you might get 1 year manufacturers warranty but then extended through protection plan for 2 extra years. I could see if you put a decent amount of hours on a machine or bought something with questionable quality.
Generally speaking you are unlikely to encounter $375 in needed repairs for a riding mower in five to ten years. These warranties cover unexpected repairs and not routine maintanence or wear items. You may do better to invest that $375 into an ETF of or even a CD and pull it out if and when you need it. It is unlikely that you will need it.
In the interests of full disclosure I worked as a manger at Lowe's between retirement and full retirement if you know what I mean. The way these things work is that your machine will be sent out to a regional OPE repair specialist for service. This was a once a week thing in my area. If your timing was perfect you could have your machine back in six days. If you were unfortunate it would take thirteen days. I believe that contract comps you $50 if your machine is gone for more than a week.
I agree. Major problems will either show themselves under the manufacturer's warranty or wait for more than five years. You are better off establishing a realtionship with a local dealer who will take care of both you and your equipment and get it back to you in 2-3 days maximum. I have all of my OPE repaired by the local John Deere dealer when needed. Repaired - not serviced. Some examples include
- Replacement of the wiring harness on JD140 lawn tractor under warranty
- Replacement of carbureator and sealing gas tank leaks on 40 year old Troy-Bilt tiller
- Re allignment of drive pulleys on Billy Goat leaf vacuum
My wife was in the insurance biz a while back. Extended warranties are a money grab.
Save $375 put it in an account. Save it for when you need it. Extended warranties prey on a persons warm fuzzy protected feeling to getcha....... When you go to use them there are all kinds of conditions that make them unusable. Then you don't feel warm and fuzzy....... you feel bad about yourself. 
