Clark has tried to convince people that extended warranties are trash for many years. He felt like the lone wolf in the wilderness for a long time. But now, Consumer Reports is backing him up. The magazine’s latest edition is all about what a waste of money extended warranties are. Every dollar you pay for an extended warranty, you’re really only getting about 15 or 20 cents on it. Why is that? First of all, the quality of the electronics and appliances is so good these days that the chance of them breaking is miniscule. Secondly, if something does happen it will probably be after the warranty runs out. In addition, although the products are high quality, they will lose value with each year you own them. And you never want to insure a rapidly decreasing product. Also keep in mind that when you buy an item on a major credit card, you usually extend the manufacturer’s warranty by one year. So, extended warranties and service contracts simply aren’t worth it.