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Extended Warranty???

Discussion in 'Canada' started by hingisfan, Jul 28, 2014.

  1. hingisfan

    hingisfan hingisfan_Mark_V

    Joined:
    Oct 19, 2013
    Messages:
    753
    Location:
    Kingston, Ontario
    Are you guys buying the extended warranty?
    How does the program work? Mileage/time limits?
    What does it cost?
    Do you have a period of time to decide on it? Or is it time of purchase only?

    FYI, saw on a recent Kman video that US centres are charging an hourly shop rate of $150 USD. Anyone know if it's higher here or same?

    Thanks!
     
  2. mnx

    mnx 2013 P85

    Joined:
    May 6, 2009
    Messages:
    2,281
    Location:
    Ancaster, Canada
    I didn't buy it back when it was $2500. I wish I did, since the price went up to 4k or whatever. I figured it could wait a couple years before buying it. Whoops! I'm still holding off waiting to see how the next couple years go.
     
  3. Canuck

    Canuck Active Member

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    Nov 30, 2013
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    Location:
    South Surrey, BC
    #3 Canuck, Jul 29, 2014
    Last edited: Jul 29, 2014
    It's $4,100 and...

    Tesla’s extended service program covers the repair or replacement of Model S parts due to defects in materials or workmanship provided by Tesla. Coverage lasts for four years or 80,000 kilometers (whichever comes first) and begins on the date your warranty expires, as long as you purchase this service within 30 days of your warranty’s expiration.

    $4,100 buys a pretty significant repair. If the repair costs more than that, the issue becomes whether you have resources to pay for it without causing significant financial concern. An extended warranty is, in essence, an insurance plan. So if a major repair is not something you can comfortably afford, but you can afford $4,100, then you might want to consider this insurance. Then again, you might want to consider buying TSLA (Tesla shares) or PCRFY (Panasonic shares since it seems to be the silent partner in the battery factory) with the $4,100 instead of the extended warranty. That way, years down the road if you have a problem you can sell the shares to pay to fix it but if you don't have any problems you will still have the shares (hopefully, unless the companies go bankrupt, which seems unlikely -- or the share values fall significantly) whereas the extended warranty will be worth nothing if you don't have any problems. Please note though buying any shares is gambling so don't rely on my advice... it's worth what you paid for it!
     
  4. Duckjybe

    Duckjybe S P232

    Joined:
    Mar 29, 2012
    Messages:
    689
    Location:
    Oakville, Canada
    My warranty is up soon as I have 77000 Km. Anybody get or considering the extended warranty? Do you think it is worth it?
     
  5. iKhalid

    iKhalid Member

    Joined:
    Feb 18, 2014
    Messages:
    630
    Location:
    Ajax, ON (for now)
    I will a month or 2 before my current warranty is up.
     
  6. mibaro2

    mibaro2 Member

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    Dec 2, 2012
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    Location:
    Georgetown, ON
    Good question. I don't know if it will be worth it. Tesla's hourly rates are fairly high, if I remember correctly.
     
  7. mknox

    mknox Well-Known Member

    Joined:
    Aug 7, 2012
    Messages:
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    Toronto, ON
    I bought it when I purchased the car because I knew my mileage was about double the warranty limit. I figured I'd need it just to get 4 years. I'm glad I did because I think it's a lot more expensive now. While I'm a big fan and booster of Tesla, I can honestly say I've now had more warranty repairs on this car than the total of all the cars I've ever owned in the past. Seriously. The only non-maintenance issue I had with my Cadillac CTS over 4 years was a burned out DRL lamp in the front headlight assembly. Tesla Service has been really great about dealing with me and my issues, so I want to be clear there is no issue at all there. But I would be concerned if I had to start paying for all of this. So the question is: do you think you'll have $4,000 (or whatever the coverage costs) or more in repair bills over your next 80,000 km???
     
  8. Duckjybe

    Duckjybe S P232

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    Mar 29, 2012
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    Location:
    Oakville, Canada
    Ok I bought it for $4100. FYI There is a $200 deductible and transportation is not included if you have to get a tow. Also it says it doesn't cover the battery but I think there is a separate warranty for that for the 8 years.
     
  9. Doug_G

    Doug_G Lead Moderator

    Joined:
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    Messages:
    15,848
    Location:
    Ottawa, Canada
    Totally agree on that point. I think the Signature owners have a lot more trouble than more recent cars. The service is really great... just needing altogether too much of it.
     

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