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Consumers Union said in 2006 that only two products deserved extended warranty consideration: projection TVs and digital cameras, as both are expensive to repair and require frequent repairs. [5] In spite of such advice, consumers frequently purchase extended warranties because they overestimate the frequency of failure. [6]
According to Consumer Reports -- the shopping bible of thrifty Americans everywhere -- there are precious few instances in which it pays to buy an extended warranty on a product you purchase.
592. Website. www.consumerreports.org. Consumer Reports (CR), formerly Consumers Union (CU), is an American nonprofit consumer organization dedicated to independent product testing, investigative journalism, consumer-oriented research, public education, and consumer advocacy. [2] Founded in 1936, CR was created to serve as a source of ...
Consumer protection is the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace. Consumer protection measures are often established by law. Such laws are intended to prevent businesses from engaging in fraud or specified unfair practices to gain an advantage over competitors or to ...
The Magnuson–Moss Warranty Act (P.L. 93-637) is a United States federal law (15 U.S.C. § 2301 et seq.). Enacted in 1975, the federal statute governs warranties on consumer products. The law does not require any product to have a warranty (it may be sold "as is"), but if it does have a warranty, the warranty must comply with this law.
A consumer may pursue relief under both a state lemon law and the Magnuson-Moss Warranty Act. [10] The existence, scope and consequence of express and implied warranties can vary under state law, and warranties for the sale of goods will often be addressed by Article II of the Uniform Commercial Code. The Magnuson-Moss Warranty Act will not ...
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