NEW Lessons in Saving on Back-to-School Electronics

NEW Lessons in Saving on Back-to-School Electronics

Repairs on Student Laptops, MP3 Players Can Cost as Much as Purchase Price
Back to School II

The back-to-school buying frenzy that typically begins in August is welcomed with enthusiasm by students who are eager to obtain the newest and trendiest items, but can be dreaded by parents who are feeling the financial pinch of the slower economy.

According to N.E.W. Customer Service Companies Inc. (NEW), the leading provider of extended service plans, buyer protection services and product support, parents or students planning for back-to-school electronics purchases can save hundreds of dollars in potential replacement or repair service costs by spending just a few more dollars at the time of purchase on an extended warranty or service plan.

“Although the economy is placing limitations on consumer spending, our products and services allow electronics to last longer, which means consumers get a greater return on their investment and ultimately save money,” said Tony Nader, president and CEO of NEW. “By making a small initial investment in the product at the time of purchase, consumers are ensuring that they will receive quality service support, troubleshooting advice, and repair and replacement services that will extend the life of their purchase.”

Two of the most popular electronics purchased by parents or students during back-to-school buying are laptop computers and MP3 players. The average laptop computer costs $700 to $1,000, and the average MP3 player costs $50 to $500.

According to NEW, the most common problems with laptops include a crashed hard drive, a broken receptacle A/C connection adaptor, a cracked LCD screen and failure of the motherboard. Repairs for these parts can range from $200 to $500. The average cost of a service plan for a standard laptop is only about $70 to $100, or 10 percent of the product’s cost. For parents or students who have planned ahead and purchased a service plan in the case of a laptop repair they may earn a net savings of $100 to $400.

NEW also reports that the most common problems with MP3 players include a crashed hard drive, a crashed main board, a cracked LCD screen, a broken click wheel and a dead battery. Repairs for MP3 players range from $70 to $200. For just $5 to $50, parents and students can gain peace of mind by purchasing a service plan for their MP3 player, generating a potential net savings of $20 to $150.

In addition to pure cost savings, consumers who buy extended warranty or service plans also gain the following benefits that begin day one of their purchase: troubleshooting support, reduced product downtime, increased productivity, time savings through one-call and online solutions, reduced stress, and increased overall enjoyment of their purchase.

About N.E.W. Customer Service Companies Inc. (NEW)

NEW is the leading provider of extended service plans, buyer protection services and product support, providing coverage to more than 150 million consumers. Founded in 1983, with headquarters in Sterling, Va., NEW provides award-recognized post-sale consumer care for leading retailers, consumer service providers, wireless carriers and financial services firms. NEW has expanded its product offerings and now delivers a comprehensive customer-care solution that begins on day one of the product purchase and extends through the end of the product life cycle. For more information, please visit NEW at www.newcorp.com or call 1-800-WHAT’S-NEW (1-800-942-8763).

Contacts

Focused Image (for NEW)
Kristina Messner, 703-678-6023
kmessner {at} focusedimage(.)com