We all know that old adage, if it looks too good to be true then it probably is, we suspect that applies to LG’s latest 20 year warranty stunt.
Yes, that is correct LG are doubling the previous 10 year warranty on some machines to a full 20 years. The catch is, it only applies to specific components in each machine however, as has proven the case previously, some people often think it’s a full warranty and not limited. It is limited, very limited.
The 20 year warranty only covers the Inverter Linear Compressor, in fairness that is the most expensive part to replace if it fails but it will not cover your labour or sundry costs to replace it, such as regassing and so on which isn’t cheap.
Also getting this new cover are some machines in the Centum range such as a washing machine, washer-dryer and tumble dryer, so your laundry devices can have a 20-year warranty as well but, crucially, it will only cover certain components and will not cover the cost of replacing them.
This sort of cover is nothing new, Philips used to do it and subsequent owners Whilrpool carried it on with a 10 year warranty on all parts, so long as you registered and paid the fee at the time. Then of course you were forced to use only the manufacturer service at whatever price they specified or, you were left with paying to have the work done yourself.
Even now a five year parts warranty like this is all too common but, it’s not really the benefit that most people think it is as, you are still straddled with being forced to pay the current manufacturer rates for a repair, often this will be a lot higher than the going market rate. Or of course you can take out a maintenance plan to cover the cost, for a fee.
Many savvy customers will get a quote from an independent repairer and, if their machine can be repaired for less then the “labour” fee from the manufacturer will go with that and, if it turns out to be a major repair, then get the manufacturer to take the hit on the big repairs.
This has been the case for decades now as we first saw this with Hoover and Hotpoint back in the 80’s when they would eat carbon brushes which a local repairer could change for less than £50 while the manufacturer’s labour fee alone was £80 or more.
Needless to say we can see the same sort of thing happening with these LG warranties. And we'd point out that the parts that have this warranty, rarely fail. Other things on the machines, do fail. The odds are not in your favour here.
That is of course, if people think that it will be worth forking out well over £100 to repair a machine that’s a decade or more old even with “free” parts.