Extended warranty: anyone regret NOT getting one?

[vapor trail]

My 2019 Model S is recently past its 4 year warranty. Have been debating the pros and cons of getting third party extended coverage. Been leaning toward not getting coverage.

Curious if anyone made same choice to forgo coverage and now regrets it after incurring expensive repairs.

 

[EVRider-FL]

Anyone who had expensive repairs is likely to regret not getting the extended warranty, but that doesn’t mean you’ll have expensive repairs. Like any insurance, you never know if it’s going to be worthwhile.

 

[PCMc]

Here's my data point ...

June 2016 built MS90D, purchased new, owned now for just over 7 years. Original warranty coverage ended Nov 2019 when I passed 50k on the odometer. That says I've been running without the OEM factory warranty for over 3yr 8 mo. I likewise debated getting extended coverage, which at that time really meant the Tesla extended service agreement. I ultimately decided not to purchase that. Since that time my out-of-pocket warranty expenses are:

Rebuild/repair of two door handles (driver front and rear).
Replacement of the 12V battery
Replacement of the 3-way coolant valve / radiator bypass (coolant leak noticed from front of car)

Total out of pocket to date is $1,114. That splits out roughly at $450 for the coolant valve, $450 for the two door handles, and $200 for the battery.

Now for full disclosure, I did elect to do the MCU2 upgrade, but I do not consider that a maintenance repair and relative to the question of extended warranty coverage, would not have been included. I also had to have the windshield replaced last year due to stone impact damage causing a large crack to form. Again, I do not consider that to me a maintenance item, but if you want to include, total cost to me was the $100 deductible on my auto insurance.

So in my case, I chose to not get extended coverage and do not regret my decision. Your mileage may vary ...

Good luck on your decision and hope you continue to enjoy your MS.

 

[ewoodrick]

By definition, the odds that you won't need it are higher than you will need it.

 

[patrick40363]

My 2019 Model S is recently past its 4 year warranty. Have been debating the pros and cons of getting third party extended coverage. Been leaning toward not getting coverage.

Curious if anyone made same choice to forgo coverage and now regrets it after incurring expensive repairs.

I owned my 2015 85D for 8 years and would never have covered the cost of the extended warranty.

 

[DerbyDave]

Like any insurance, including car and homeowner insurance, you hope you never have an opportunity to use it. I have had it raise the value of my car when I sell it. It is as good a bet as any insurance. Hope you are lucky and never have a claim.

 

[airborne spoon]

Extended warranties are a con to part a fool from his money.

My warranty expired ages ago, never looked back. Most expensive repair this far was all 3 louvers for $550 and I did the service in my driveway after buying the parts from Tesla.

 

[vapor trail]

Thanks to everyone for input.

 

[CapeOne]

Like other types of "insurance", part of what you are buying is intangible... peace of mind. How much that is worth in $$$ can vary by individual. Even if an extended warranty doesn't end up covering more in repairs than the cost of the plan, some may still find it worth the money when factoring in the "peace of mind" aspect.