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Extended Warranty Worth it? One year 4k 50k Miles?

Discussion in 'Model S' started by pox, Aug 22, 2016.

  1. pox

    pox Member

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    I've had my Tesla over year and at 49,990 miles. My last chance to get the warranty. Just not sure it's worth it. What do you guys think? Has any one bought and had to use it to save them more then the 4k?
     
  2. AMPd

    AMPd Active Member

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    In your case, I say no!

    Edit: my gosh that's quite the commute you have sir.
     
  3. pox

    pox Member

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    I'm just afraid that, in the next year some big could go out like the 17inch screen or something.
     
  4. bobjustbob

    bobjustbob Elon Musk takes all my money

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    I'll probably be in the same boat (I'm putting about 1K every week on my MS70.) I'm fairly certain I will opt for the extended warranty when to time comes.
     
  5. AMPd

    AMPd Active Member

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    That could happen, but there aren't too many cases where the screen failed after 2 years.
    From what I've noticed, most warranty problems (battery/du problems excluded) usually come up after delivery.
    If after the first year everything is still working fine then things should be fine your second year.

    nothing is guaranteed though, it's a 4K gamble.
    I personally would pass on the extended warranty.
     
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  6. Todd Burch

    Todd Burch Electron Pilot

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    I'd skip the warranty if I were you. I put on about 24k per year and I think I'm going to skip it too.
     
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  7. sorka

    sorka Active Member

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    Not worth it for 1 year. Not even for two. When I cross that bridge, I'll have to decide if I want to reduce driving just enough to stretch it out for the full 4 years. That's the only way I'd consider $4K on a 50K warranty that has a one time $200 deductible per defective part making it just about the worse factory extended warranty in the world.
     
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  8. davidc18

    davidc18 Member

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    I'm in the same boat, about 24K miles per year. Not planning on getting the extended warranty at this time.
     
  9. Gizmotoy

    Gizmotoy Active Member

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    With those many miles, if you intend to drive at about the same rate I would say it's probably not worth it. The extension simply isn't going to buy you a lot of time, and the money spent on the extension could be used for when things do eventually fail. Most of the expensive bits not covered by the unlimited mile warranty degrade based on time, not miles, anyway (like the mentioned center display).

    This from someone who is seriously considering whether it makes sense to own a Model S outside of warranty, though I'm about to enter Year 3 with only 23k miles, so my situation is a bit different.
     
  10. harry

    harry Member

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    Well -- we just picked up one of our Model S Sigs from the SC, and the bill would have been over $22k without the extended warranty. Now, to be fair, about $9K was a(nother) drive unit, @ about $9K, so around $13K out of pocket if we had to pay it. (All Canadian dollars.)

    BTW, nothing at all esoteric, just suspension, steering links, etc. -- common parts.
     
  11. xav-

    xav- Member

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    How good is the ESA? I read somewhere that many items were excluded.. ?
     
  12. JPUConn

    JPUConn Member

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    How much longer do you intend to keep it? If there is any chance you'll be selling it shy of say 90k miles the warranty could aide in that sale for the next owners piece of mind.

    With that - I'd be curious of the depreciatio per mile curve if you were to sell today vs next year at 100k or the year after at 150k. is there a ~25-30k price floor regardless of mileage because of the power train warranty?
     
  13. pox

    pox Member

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    I was looking at trading it in for a X a few months ago, I saw the CPO's with the same config going for over 90k, but Tesla only offered me $68k for mine when I was at 38k miles. I bet they would only offer me like $60k or less now. I figure keep it and see what the Y looks or next get X looks like in a few years. Unless I got offer private party to sale it closer 80k.
     
  14. Todd Burch

    Todd Burch Electron Pilot

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    How could that be, with 8 yrs/unlimited miles on the drivetrain warranteed?
     
  15. TaoJones

    TaoJones Beyond Driven

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    I drove the first 50,000 miles in about 16 months. Couldn't justify $4,000 plus $200/visit for the remaining 20 months before the GRV option kicks in.

    So, instead, I opted to self-insure, and will probably put the $4K toward more shares of TSLA. Or, as my friend's ultra-conservative wife would say, living dangerously not once but twice. To which I would respond, yep - and simultaneously, even.
     
  16. Todd Burch

    Todd Burch Electron Pilot

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    BTW, also factor in the VIN. Newer VINs are undeniably more reliable.
     
  17. calisnow

    calisnow Active Member

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    I don't normally buy warranties on electronics but extended warranties have more than paid for themselves on cars for me.

    However this is the most trouble-free car I've ever had - absolutely ZERO issues in 12,500 miles on my 2016 70D. Not sure whether to get the warranty on this one.
     
  18. Thumper

    Thumper Member

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    2012 S85 delivered Jan.2, 2013. 42K miles. Original drive unit, no problems. One door handle replaced. No other problems. 4 year warranty running out first of the year. Reserved for a Model 3. Should I buy an extended warranty.
     
  19. pox

    pox Member

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    I didn't end up getting it, I'll see how it goes.
     
  20. ChadS

    ChadS Petroleum is for sissies

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    VIN 112 is 4 years old and has 74k miles. The original warranty ran out in 2014. There have been no service needs since 2013 when the door handles were replaced. Many say these early cars are "unreliable" but unfortunately we don't have the data to determine that. Sure there are some that have issues, just as there are some like mine that haven't. Only Tesla has statistically sufficient numbers required to calculate the failure rate, and like other manufacturers they don't share.

    My Roadster is 7 years old and has 57k miles. The original warranty ran out in 2012 and if I had purchased the extended warranty, it would have run out unused in 2015. I'm really glad I didn't get it, though of course that is only with the benefit of hindsight.

    Most cars from any manufacturer don't have issues and the extended warranty is a waste of money. But some cars from any manufacturer do, and then it is sure nice to have a warranty. But there's no way to predict the future and know which camp your car falls in (not even if you sort by VIN; some cars old and new alike have problems, and some don't). Like most types of insurance, the answer should come down to whether you can afford repairs without the insurance. Financially speaking skipping insurance is usually best; though not always by a large margin and some find the likely extra cost of having the warranty worth the peace of mind.

    Essentially, the answer is "what makes you feel better". Saving money to self-insure, or spending money for peace of mind? You will never know if you made the right choice until too late. :-(
     
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