About to leave warranty - any recommendations? Should I get a service?

[pdk42]

I don't think that the 2019 has particular nasty things to avoid, there will obviously be wear and tear and items, my PTC heater did need replacing after a few years along with the ball joints needing replacing.

I assume you have a LR so if you have only lost £20k in depreciation then you are doing well tbh as I've seen many 20/21 have more than £20k depreciation

My Sept 2019 is now worth under £20k in the eyes of WBAC etc. It was £47k at purchase. Almost £30k depreciation over four years and £50k miles is pretty painful.

 

[gangzoom]

My Sept 2019 is now worth under £20k in the eyes of WBAC etc. It was £47k at purchase. Almost £30k depreciation over four years and £50k miles is pretty painful.

That’s £625/month roughly, which many people will happily finance year after year, as if you put down a £10K deposit on a new car, it’s the equivalent of ‘just’ £410/month.

It doesn’t matter how you frame it new cars expensive wastes of money compared to keeping your current car, even when you take into consideration repair costs. Keeping your car now actually costs you £0, presuming you own it outright already, £0 on going finance costs versus buying a new car and losing the same amount again in 4 years……You need deep pockets to justify that financially.

 

[pdk42]

That’s £625/month roughly, which many people will happily finance year after year, as if you put down a £10K deposit on a new car, it’s the equivalent of ‘just’ £410/month.

It doesn’t matter how you frame it new cars expensive wastes of money compared to keeping your current car, even when you take into consideration repair costs. Keeping your car now actually costs you £0, presuming you own it outright already, £0 on going finance costs versus buying a new car and losing the same amount again in 4 years……You need deep pockets to justify that financially.

That's exactly the conclusion I've come to! And if I really want a slightly more modern 3, I could buy a used 2021 model and still save a fortune compared to a lease on a new one.

 

[yessuz]

That's exactly the conclusion I've come to! And if I really want a slightly more modern 3, I could buy a used 2021 model and still save a fortune compared to a lease on a new one.

and that is more or less conclusion I came to... OK, I do a lot miles, but apart interior issues (rattles) it is very solid car so far. one issue appeared and was fixed.
I am on tesla loan, so after roughly į more painful years I will be out of financing (or earlier who knows). in such case car will cost me virtually 0 and it will be an asset :/ even a depreciating one, but still asset

 

[Js1977]

į

You don't even know how much grief that gave me with trying to clean the "smudge"

But back to what you said, I would of though people doing many miles (as in double many average miles) would be good candidates for leases and the likes that changes the car more frequently since the car will age much faster and it won't be long to come across issues never mind running it into the ground.

Personally I never had an issue with buying a higher mileage than average car but I always done so baring in mind that given the low mileage I do (on a single vehicle), the average miles would eventually catchup or indeed decrease thus making it a good value purchase....

 

[yessuz]

You don't even know how much grief that gave me with trying to clean the "smudge"

But back to what you said, I would of though people doing many miles (as in double many average miles) would be good candidates for leases and the likes that changes the car more frequently since the car will age much faster and it won't be long to come across issues never mind running it into the ground.

Personally I never had an issue with buying a higher mileage than average car but I always done so baring in mind that given the low mileage I do (on a single vehicle), the average miles would eventually catchup or indeed decrease thus making it a good value purchase....

Sorry for that "lithuanian" i - was writing something.. .

actually no... Lease is the worst option ever IMHO. I struggle to understand why anyone would Lease in first place, as it is pure cost into nothing... It's just a rent. but with loads of limitations.

For example, Tesla PCH (Lease) of Model 3 LR for 48 months is 720 a month (with 4k deposit) for 15k miles PA. Then there is 16.5 ppm extra fee. 16p per mile! I do 20k per year on avg... that is additional 825 gbp a year
so in 4 years not only you pay 34.5k of lease, but on top I would pay 3.3k on mileage. and as end product - I get nothing.

Imho Lease makes sense to companies only, who need to provide the vehicle to the employee but does not want any asset liability or whatever - just pay to lease company.. personal lease makes absolutely no sense.

at the same time, tesla Loan I took before rate hike is 730 a month, no mileage fees (so I can do 100k miles a year if I want) and in the end of the day (ok, 6 years, not 4) - car is mine, paid off and I can keep it or can trade in or sell or burn it to the ground or whatever

 

[MrT3]

Lease is the worst option ever IMHO. I struggle to understand why anyone would Lease in first place, as it is pure cost into nothing

In your circumstances, but it is the cheaper monthly payment option for others that do less miles.

If it didn't make sense for some then the product wouldn't be offered/would be withdrawn.

 

[yessuz]

In your circumstances, but it is the cheaper monthly payment option for others that do less miles.

If it didn't make sense for some then the product wouldn't be offered/would be withdrawn.

For me the biggest struggle for reason is because even it's cheaper (by 100 or so) - it's effectively long term rent. Financially it is terrible decision. as with PCP you have option to keep asset or not and for loan you effectively escaping the balloon payment... but with Lease... you just spent on rent :/

as I mentioned, it perfectly makes sense for businesses. but not for private.

 

[GlynG]

My view of leasing is probably a little screwed up as i tend to see things a bit different to most.
I think we live in times where keeping up with the Jones's is important to many, A new car is a status object and a lease makes this behaviour possible and reasonably affordable, of course its all consumerism, Its the sole reason the reg plate of a car tells others how new it is - and the private plates are predominantly fitted to disguise age by those who have the Jones's/status complex.
The very rich who have private plates always have new cars, and plates that are worth as much if not more than their car - so its easy to spot the wannabees and the genuine Jones's.

I have never cleaned and polished any neighbours car, never equipped one with additions to personalise it - because it isn't mine - a lease car isn't mine either so my hobby and love for cars would be seriously damaged - so my only option is to buy.
Of course I loose money on depreciation - and quite rightly can say, I've lost money on every car I've ever owned - but hobbies - whatever it is, costs money - but to me its good value.
Buying gives me the say in everything I do with my car - I don't need permission from anyone.

When buying a car, if I'm getting used, then the cars history is important, a lease is very similar to an ex Hertz car in that its probably been driven hard, waded fords, thrashed within an inch of its life, people just don't take care of another's property.

The current trend is towards lease - and it does make buying a new used car difficult as dealers tend to state 1 owner and making further enquires tends to be met by the stating of GDPR - cant reveal that sir, - that turns out to be a rental company - and multiple drivers never bodes well because every driver has abused it.

Even if I was paying monthly instalments for the purchase of a car I would view this as paying for something that's mine - not paying for something that will never be mine - would feel like throwing money away.

 

[MrT3]

For me the biggest struggle for reason is because even it's cheaper (by 100 or so) - it's effectively long term rent. Financially it is terrible decision. as with PCP you have option to keep asset or not and for loan you effectively escaping the balloon payment... but with Lease... you just spent on rent :/

as I mentioned, it perfectly makes sense for businesses. but not for private.

If your decision is purely financial then you shouldn't be considering a new vehicle which ever way you want to finance it

However lease exists because

• Some people have no intention to ever own a vehicle and therefore a ballon payment option is irrelevant (although some lease companies will let you purchase the vehicle at the end of the term anyway)
• Some people always want a new vehicle every x years
• The approx. 10% saving between lease and PCP allows for a higher spec vehicle that they otherwise couldn't afford
• Some people need to have a vehicle always 4 years old or less (or some other term) due to their employment car allowance policy
• Some people know the vehicle they intend to lease isn't going to be suitable for them in x years time (e.g. they intend to start a family and will need a bigger one).

and I'm sure there a many other reasons too.

Personally lease isn't for me, but that doesn't mean it isn't right for someone, or that it might not be suitable for myself at some point in the future.

 

[WannabeOwner]

the private plates are predominantly fitted to disguise age by those who have the Jones's/status complex.

I have a private plate, and tend to buy the same model / colour, specifically so that people don't think I've splashed out on a new car ...

Buying gives me the say in everything I do with my car - I don't need permission from anyone.

In my case that is also the timing of if and when I choose to chop it in. If something "better" came along (suited my [e.g. changed] lifestyle better, or I just decided that I wanted it for whatever reason - vanity included!) then I can, and I don't have to wait for finance to finish, or pay a penalty.

 

[gangzoom]

I have a private plate, and tend to buy the same model / colour, specifically so that people don't think I've splashed out on a new car ...

The plate on my car has been on the last 4 cars I've owned, 4 different makes and models .

 

[Js1977]

The plate on my car has been on the last 4 cars I've owned, 4 different makes and models .

Lost two private plates many years ago when sold the cars unknowingly. One of them, even bought the car just for the plate.

Now days, ive got better things to be spending my money on and dont see the value.

Hopefully at some point Ill have more money than sense once again

 

[x-rm]

I have an MX so maybe slightly different from the M3 experience that the early part of this thread focused on, however, for anybody that actually reads this far down the thread - mine was coming to the end of the 4yr warranty so I compiled a list of all the little niggles I had been living with and raised a service visit a few months before the 4yrs were up - the result has been that Tesla have had my car for more than they haven't over the past 3 months, have 'spent' over £10k on repairs and still have not finished everything - a seat motor and a suspension sensor left to be replaced. The Bmth service centre have been great even if they have been a bit overworked and had to wait for parts, but the real lesson here has been to get everything checked out under warranty 'cos I would have been pretty upset with that £10k bill if I was paying. I'm still deciding if a 3 or a Y will be the replacement but at least I know that if I opt for a private sale rather than the trade-in I can offer a new owner some reassurance about the amount of my car that is now 'new' (Tesla warrantee any repairs they do for a further 12 months irrespective of the original warranty term).

 

[Leejmoff]

If your decision is purely financial then you shouldn't be considering a new vehicle which ever way you want to finance it

However lease exists because

• Some people have no intention to ever own a vehicle and therefore a ballon payment option is irrelevant (although some lease companies will let you purchase the vehicle at the end of the term anyway)
• Some people always want a new vehicle every x years
• The approx. 10% saving between lease and PCP allows for a higher spec vehicle that they otherwise couldn't afford
• Some people need to have a vehicle always 4 years old or less (or some other term) due to their employment car allowance policy
• Some people know the vehicle they intend to lease isn't going to be suitable for them in x years time (e.g. they intend to start a family and will need a bigger one).

and I'm sure there a many other reasons too.

Personally lease isn't for me, but that doesn't mean it isn't right for someone, or that it might not be suitable for myself at some point in the future.

I've always done PCP, but after getting a ridiculously low trade in value on my 2.5 year old Model 3, and a balloon payment at the end. I'm now looking to sell privately and just pay off the final settlement figure given.

I wont do PCP again with Tesla, because of the changing prices, as we have seen recently it only needs Musk to have a bad morning and suddenly the prices go down (my car is worth less and I owe more money).

So my company now do electric Octopus lease. (Salary Sacrifice)

- 40 % saving on monthly cost (not paying tax because its salary sacrifice)
- free Insurance (doubled this year, so saves me £1000 a year instantly)
- free 10,000 miles charging
- no tax to pay (this starts next year for EV's)
- car maintenance (if ever needed)
- free accident/AA insurance
- free charger

Yes I have the charger already, but the rest is ontop of already getting a 40% discount on my monthly cost for it. The money I'm saving on insurance/AA/charging, can go straight into a pot for either a deposit on another car, or I use it for a beer or two. Plus I can do it for 2 years and try something else afterwards. Currently makes sense for me but never has before.

 

[MrBadger]

(Tesla warrantee any repairs they do for a further 12 months irrespective of the original warranty term).

Is that right? I thought it was 3 months, hence I haven’t been back for them to re-do what they supposedly fixed* under warranty in September.

* I don’t actually think they fixed the original cause of the fault (seems to be a common cable issue caused during build of a part that was never actually used and visible to owner until more recently) and a reset of that part of the system that is done after replacing the so called faulty part would have temporarily cleared the fault for long enough for me to have thought the fault fixed and the car come out of warranty.

 

[Matt125]

My 2021 Model 3 LR is only worth ~£20k now according to AutoTrader, WeBuyAnyCar, Motorway etc. It's got 37,850 miles on the clock. They obviously want to make some money when they sell on the car, so let's say ~£25k when all is said and done.

My settlement figure for finance with Tesla is £25k, so that's how much I still owe them for the car. Yeah, depreciation is a $%!£.

Fortunately, I'm in for the long haul, looking after the battery by charging between 40% and 60% most of the time, not supercharging unless absolutely necessary etc. I took a test drive in the new Model 3 and while the lack of stalks didn't bother me as much as I thought it would, it's not as completely an overhaul that I would need to get me to upgrade - a proper hatchback on the boot like the Y would probably get me to do that. Improved suspension is nice but I don't like the new interior as much as my current one (I've had my wooden dash inserts replaced with alcantara, and I don't like accent lighting). Every positive thing about the new 3 has drawbacks as well as far I'm concerned.

 

[Durzel]

Last I checked my 2020 M3P had effectively cost me well over £800/month in depreciation, which was more than the PCP/lease quotes I was getting back towards the tail end of 2019. Always figured - and was told - that buying outright was the most cost-effective way to own. It wasn't in this case, and arguably the capital would have paid dividends pretty much anywhere else. Lesson learnt there.

 

[yessuz]

ah.. I cannot care less really. as with my mileage lease was unattainable or financially non-viable, only option was Tesla loan.

even if I lost fortune NOW, by end of loan I should have some sort of value anyway....

so effectivelly, depreciation is most extreme first few years and if flattens later.