Lowe's Teaches Us: Protection Plans Are Useless, And/Or Lock Up Your Receipts

W. warns us all: don’t buy expensive tools and the Master Protection Plan that goes with them from Lowe’s. If you do, keep the receipt somewhere that you will absolutely not lose it, like a fireproof safe or stapled to your forehead. How does he know? It all begins with selling a used saw that originally came from Lowe’s.

Since the saw was changing hands, he sought to get a refund for the expensive plan on the saw. Because of the immutable laws of the universe, this ended up costing him, in time and actual cash, more than the original value of the protection plan. He could have given up, but like many stories featured here on the site, that’s not the point.

My advice about purchasing high dollar items that require protection agreements from Lowes…DONT DO IT!!!

It all began about a month and a half ago. We sold a Saw..we had previously bought it and a Master Protection Plan from Lowes. I called Lowes to cancel the agreement and to request a refund of the money owed on the remainder of the plan. I was told by the operator at 1-800-445-6937 that I could just come into the store location where we purchased the Saw and they would refund the monies owed.

We went to Lowes and spoke with the Customer Service people and they told us we could not receive a refund from them, that we would need to call the Lowes Protection Plan company at 1-888-775-6937. We returned home and two days later I discovered that my receipt for the Saw had not been returned to me at Lowes. I called Lowes and they told me that I could call Customer Service to obtain a duplicate receipt.

I sat down this morning to call to cancel the warranty on the Saw and one other item we sold, as well as transfer the warranty for one other item. I called 1-888-775-6937 and was given three menu options to choose from, none of which were an option to cancel or transfer a warranty. Each of the three menu options given took me to a recorded entry system, no human contact. So I again had to call the 1-800-445-6937 number.

After I was hung up on once, put on hold twice for extended periods of time, and after being given a new phone number to call that advertised Viagra, I finally called back and reached a person who seemed to want to help me.

This representative told me that she was not able to cancel my warranty on the Saw nor the other item because in order to cancel the warranty on those two items I would need to mail the receipts to NEW, PO BOX 1818, Sterling VA, 20167-1818 along with a written request explaining that I sold the items covered by the protection agreement.

As for mailing in the receipt for the Saw, since the Customer Service Representative at Lowes did not return my receipt, I will need a duplicate receipt to send in and in order to get the duplicate receipt, I have to give them the date the item was purchased. Guess what? I don’t remember! So much for that refund!

As for transferring the warranty for the other item to the new owner, no problem. Since I had the receipt, that could be done instantly. Amazing isn’t it?

So, now I have to make a copy of the receipts, mail them certified mail to ensure they reach the intended destination, (which will cost me) and wait for them to send me a prorated refund (not sure if the time I will be waiting for them to process the request will be counted against my refund)…

So, time spent on the phone, copying the receipt, writing the request, certified letter postage, gas money to Lowes, loss of a receipt (warranty refund)…

AMOUNTS TO MORE THAN THE WARRANTY IS WORTH!!!!