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Buying a used M240: should I buy extra warranty?


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I'm on the verge of buying a used M240 from a reputable dealer which gives a standard one year warranty. This warranty is just a technical warranty, damage by water, falling,, misuse etc is not included.

 

I do have the option to buy an extra year of warranty for about $350. I'm wondering if it's necesary. As far as I know the M240 doesn't have technical issues with its sensor, shutter, knobs etc.  And if I find any issue I think I will find it within a year of owning it.

 

What would you do?

 

Thanks.

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Depends on how long you intend to keep it of course. Also if the extended warranty would be transferable to possible buyers if you cannot resist ordering the next M. How much would you pay for a one year insurance coverage if any?

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I intend to keep the M240 for several years, since I don't have the funds to buy each new model. The extended warranty is transferable to the next owner. As I stated in the orginal post the extra year (2nd year) is about $350, whch I'd rather invest in a next lens ;)

Edited by stekks
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I'm on the verge of buying a used M240 from a reputable dealer which gives a standard one year warranty. This warranty is just a technical warranty, damage by water, falling,, misuse etc is not included.

 

I do have the option to buy an extra year of warranty for about $350. I'm wondering if it's necesary. As far as I know the M240 doesn't have technical issues with its sensor, shutter, knobs etc.  And if I find any issue I think I will find it within a year of owning it.

 

What would you do?

 

Thanks.

Are you guaranteed that the work will be performed by Leica? or is this a generic warranty?

If not, you maybe better off buying a CPO M240

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I would personally go with the dealers 1 yr warranty.

 

Extended warranties aren't warranties, they're insurance policies and you might find you're covered by your house insurance/can cover under the house insurance. I'd want to look at the small print of any 'extended warranty' before considering it, but at the price I think I'd pass.

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1. Check with your homeowners insurance to find out what they cover.

 

2. As a general rule, extended warrantees are not a good deal. The deck is always monetarily stacked against you (that's how they make money).

 

However, if you have little or no savings put aside you can divert for photographic emergencies, then maybe insurance is not a bad thing. 

 

I never buy extended warrantees and self-insure. I figure if I can't afford the potential repair I have no business sticking my nose into the game.

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Lots of things can happy to your camera, including theft.  Get the standard dealer warranty and buy personal insurance for everything else.  Plans vary widely by location, by company and by individual circumstance.  It pays to shop around.  Hopefully you'll never need it, but it's there when you do.  

 

Jeff

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For anyone in the UK, I found that Eversure offer the best insurance deal for my Leica kit. Last year I used Photoguard and they were much more expensive. Considering I live in the sticks where crime is non-existent, rather than a city where crime can be rife, it is an important factor.

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