Hello All,
So I currently own an older Model S, and have considered getting a Model 3 or Model Y. As I typically own cars well past their original warranty, I either consider getting an extended warranty or roll the dice and pay up for any repairs. In the past I always rolled the dice since, as a gearhead, I could handle most repairs myself (my old BMW M5 was like getting a car and car-repair hobby all-in-one).
Unfortunately, with Teslas and, I suspect, most EVs these days, anything not common (like brakes/suspension/etc.) really requires the manufacturer (or dealer for other manufacturers) address the problem, so "DIY" is a lot less viable. Sure, there are a TINY number of shops, but they are not widely available - and not exactly cheap either. This all either results in simply paying the higher dealer/manufacturer prices or ponying up for the extended warranty.
When it comes to extended warranties, you usually have the choice between those offered by manufacturers or after-market. None are "cheap", but in general I think most would agree the former can be less "hassle" than the later. Again, we have a dilemma here in that Tesla no longer offers an extended warranty for ANY new Tesla product: S, A, 3 or Y. That forces owners into the (limited?) aftermarket. Not surprisingly, we are seeing a lot of "extended warranty" questions here on the forum now as the first Model 3s start to come off warranty (for anything other than drive units and batteries).
So, that brings me to the question in the title? Are you planning to keep the car post-warranty? Options I see include:
1. Roll the dice and keep car w/o warranty
2. Look for and purchase a 3rd party extended warranty (some are reputable, others, well...um, yeah)
3. Sell it and eat the depreciation and start over with car payments
Sure, the 5 year depreciation on a Model 3 is better than, say a BMW 3 series, but as you move beyond 5 years things can get very different when you compare an option where you keep the car and drop the coin for an extended warranty vs. "buying another car" and re-entering the steepest part of the depreciation curve.
I understand. of course, that some of you just sort of build "always having a car payment" into your life and find having the latest thing worth paying for!
(note: I'm assuming the current insanity in used car prices will, of course, not be permanent!)
Anyway, interested in your plans (and any differing opinions).
So I currently own an older Model S, and have considered getting a Model 3 or Model Y. As I typically own cars well past their original warranty, I either consider getting an extended warranty or roll the dice and pay up for any repairs. In the past I always rolled the dice since, as a gearhead, I could handle most repairs myself (my old BMW M5 was like getting a car and car-repair hobby all-in-one).
Unfortunately, with Teslas and, I suspect, most EVs these days, anything not common (like brakes/suspension/etc.) really requires the manufacturer (or dealer for other manufacturers) address the problem, so "DIY" is a lot less viable. Sure, there are a TINY number of shops, but they are not widely available - and not exactly cheap either. This all either results in simply paying the higher dealer/manufacturer prices or ponying up for the extended warranty.
When it comes to extended warranties, you usually have the choice between those offered by manufacturers or after-market. None are "cheap", but in general I think most would agree the former can be less "hassle" than the later. Again, we have a dilemma here in that Tesla no longer offers an extended warranty for ANY new Tesla product: S, A, 3 or Y. That forces owners into the (limited?) aftermarket. Not surprisingly, we are seeing a lot of "extended warranty" questions here on the forum now as the first Model 3s start to come off warranty (for anything other than drive units and batteries).
So, that brings me to the question in the title? Are you planning to keep the car post-warranty? Options I see include:
1. Roll the dice and keep car w/o warranty
2. Look for and purchase a 3rd party extended warranty (some are reputable, others, well...um, yeah)
3. Sell it and eat the depreciation and start over with car payments
Sure, the 5 year depreciation on a Model 3 is better than, say a BMW 3 series, but as you move beyond 5 years things can get very different when you compare an option where you keep the car and drop the coin for an extended warranty vs. "buying another car" and re-entering the steepest part of the depreciation curve.
I understand. of course, that some of you just sort of build "always having a car payment" into your life and find having the latest thing worth paying for!
(note: I'm assuming the current insanity in used car prices will, of course, not be permanent!)
Anyway, interested in your plans (and any differing opinions).