Comments on: Costco Ends Lifetime Return Policy http://www.pfadvice.com/2007/02/27/costco-ends-lifetime-return-policy/ Bridging the gap between saving money and investing Wed, 20 Aug 2008 11:56:02 +0000 http://wordpress.org/?v=2.3.2 By: johnnyj http://www.pfadvice.com/2007/02/27/costco-ends-lifetime-return-policy/#comment-24164 johnnyj Wed, 28 Feb 2007 18:38:06 +0000 http://www.pfadvice.com/2007/02/27/costco-ends-lifetime-return-policy/#comment-24164 But Costco's membership fees are there partly because of their return policy. Sure people will abuse it, or use it more than others. It's not unlike any insurance policy. We all have to pay a high premium to cover the costs of all members, even those who are chronically ill. If Costco does indeed lower the policy to only 90 days, then they really ought to reduce the membership fees. It's only fair. But Costco’s membership fees are there partly because of their return policy. Sure people will abuse it, or use it more than others. It’s not unlike any insurance policy. We all have to pay a high premium to cover the costs of all members, even those who are chronically ill. If Costco does indeed lower the policy to only 90 days, then they really ought to reduce the membership fees. It’s only fair.

]]> By: shraz http://www.pfadvice.com/2007/02/27/costco-ends-lifetime-return-policy/#comment-23876 shraz Wed, 28 Feb 2007 00:00:48 +0000 http://www.pfadvice.com/2007/02/27/costco-ends-lifetime-return-policy/#comment-23876 Do they have any warranties? The best thing is free 1 year warranty and pay for more than 1 year like most of the stores. Do they have any warranties? The best thing is free 1 year warranty and pay for more than 1 year like most of the stores.

]]> By: BoilerHorn http://www.pfadvice.com/2007/02/27/costco-ends-lifetime-return-policy/#comment-23743 BoilerHorn Tue, 27 Feb 2007 12:17:18 +0000 http://www.pfadvice.com/2007/02/27/costco-ends-lifetime-return-policy/#comment-23743 Costco's liberal return policy was one of the main reasons I used when purchasing electronics items. I think this change might be a bit more drastic than required. Here is a personal example: I bought a 20" TV-VCR-DVD player in 2003 for $399. Approximately 13 months later, the DVD portion failed. After I inquired, Customer Service recommended I return it. I would have been thrilled to receive a replacement, even if refurbished. Costco refunded my money ($399) and I promptly purchasaed a newer model for $299. My intention was to have the issue resolved under Costco's policy. It seems that they did not police their policy well. Of course, this new policy does not protect Costco against the consumer that borrows a TV for the Super Bowl. I would not be surprised if Costco decided to create a new 5-year extended warranty plan on electronics that, for a fee, will allow a consumer to have the same 'lifetime' treatment over the first five years of a product's life. I think Sam's Club has a similarly liberal return policy. In fact, it was advertised to me when I was shopping for flat panel TVs a year ago. Costco’s liberal return policy was one of the main reasons I used when purchasing electronics items. I think this change might be a bit more drastic than required.

Here is a personal example: I bought a 20″ TV-VCR-DVD player in 2003 for $399. Approximately 13 months later, the DVD portion failed. After I inquired, Customer Service recommended I return it. I would have been thrilled to receive a replacement, even if refurbished. Costco refunded my money ($399) and I promptly purchasaed a newer model for $299. My intention was to have the issue resolved under Costco’s policy. It seems that they did not police their policy well.

Of course, this new policy does not protect Costco against the consumer that borrows a TV for the Super Bowl. I would not be surprised if Costco decided to create a new 5-year extended warranty plan on electronics that, for a fee, will allow a consumer to have the same ‘lifetime’ treatment over the first five years of a product’s life.

I think Sam’s Club has a similarly liberal return policy. In fact, it was advertised to me when I was shopping for flat panel TVs a year ago.

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