Let me ask you this? Why do they warrant it for 4 years? Hyundai (which I can't speak for their durability) offers 6 years. I asked a guy at the service center who had a model 3 what he's gonna do after 4 years is up. His response. Trade it in.
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Model 3 Extended Warranty?
- Thread starter Resist
- Start date
Big difference with gambling. The house ALWAYS wins. Same way all these folks on TV saying they got the winning megamillions ticket.
In addition I went with XCARE for 2 years. Cheaper than Tesla AND if I sell privately I can pass the policy on to the buyer for $50.
No, there is no difference here. People hit the slot machines, people win at blackjack, but the house always wins as you said. Its the exact same thing here.
Anyway, as I said earlier, you do you.
For the 2 year/25k warranty extension you can go either way, Tesla ESA or XCare. Where XCare really pulls ahead is the longer terms, higher miles coverages and the inclusion of Battery and Drive Unit coverage with XCare Premium. We also offer a standalone Battery and Drive Unit coverage, that is especially advantageous for very heavy users (Uber/Lyft). Cheers! Brent @ XCare
Gambling is playing the odds. Warranties and insurance are playing the odds. It's exactly the same thing. Exactly. The only difference is venue.
If you think Tesla (the House) hasn't done research to figure out how to come out on top then I have a bridge to sell you. Maybe YOU and a few individuals may have it pay off, but the majority of people will not. Tesla is not going to offer extended warranties at a net loss for the company, any more than an insurance company will set premiums to lose money.
XCare offers Trip Interruption, which pays up to $200/day for up to 5 days for expenses if you have a breakdown more than 100 miles from home.
We also offer rental car participation ($40-50 per day) for up to 5 days.
Like the ESA, we also allow for transfer or prorated refund at any time during your coverage period.
Thanks for the opportunity to help! Brent @ XCare
Tha_Ape
Active Member
What you're buying with warranties/insurance is peace of mind.
It's a transfer of risk. Of course Tesla will make out on it, they wouldn't offer it to lose money, the same with insurance companies. I've had 2 extended warranties, one paid for itself and a little more, the second I didn't use at all. The only reason I got one a second time was because it worked the first time.
I'm honestly undecided on the Tesla one, but leaning towards v"no". The "bet" is that you'll spend over $1800 ($2000 for Y) in the 2yr/25kmi after your warranty runs out. To me, that's an extremely limited window where it's even applicable. If it was an additional 4yr/50k, that might be something I'd consider.
But what are the odds your car will need 1800 worth of warranty work between year 4 and 6 or 50-75kmi? They seem slim to me.
