Tesla Extended Service - does it make sense?

[wayner]

My Model S is coming up on four years since delivery.

If I remember correctly you have to buy this within four years of delivery - is that correct?

Is it worth buying at $2800 for two years and $5700 for four years? I intend to keep the car for several more years. I haven't had a ton of issues - just two door handles that stopped presenting so I wonder whether I should pay or just take the risk myself. My theory on insurance is that it generally isn't worth it if you can pay for the loss - you are better off paying any costs necessary - assuming that the risk is priced fairly.

 

[X.l.r.8]

There may become a point that the insurance is worthless. Roadster owners had the option of a replacement pack at a much reduced cost up front if you wanted to replace within 8 years, now only a few years later there are no replacement packs, no upgraded packs (I know the web site says there is a 3.0 upgrade but there are none available). That said so far the model 3 has not had issues with the TMPS. or the inverter. The 85P motors had some issues. The door handles and the charging port seem to be the major problems seen this year (I don't see the regen or lack of as an issue as its a) globally and b) just requires more user input and c)will be resolved as its obviously a software issue. The question is what happens if the driveshafts or CV joints start failing, model S ones used are already in the $3-400 region, ir heating systems fail. Or dc/dc convertors. All of which are easy to replace but if you are paying your SC to do the work it's going to be expensive. I wold take the chance as in 4 years the amount of model 3's available for wrecking/stripping will be quite large.
If a new charge door port is designed with a heating element and requires a program of your can bus to operate then I think I would wait another year. But potentially the obvious problems are resolved and the cars are turning up on the salvage forums to be confident to find what you need.

 

[Daniellane]

This may help...
I recently purchased it and posted a copy of my contact in a similar thread:
Extended Service Agreement... Should I???

Contract here:

This should be helpful for the decision process.
Here are screenshots (9 pages) of the contract I purchased for $4,250 ~September 2018 for my March 2018 Model S 100D - your contract may be different:
View attachment 363947 View attachment 363948 View attachment 363949 View attachment 363950 View attachment 363951 View attachment 363952 View attachment 363953 View attachment 363954 View attachment 363955

 

[wayner]

Thanks Daniellane - that is very helpful. I wasn't aware of the deductible. That may sway me to not purchase the insurance.

 

[Vawlkus]

Personally, I don’t think it’s worth it.
I did get a maintenance plan with my last car, and while I don’t regret it, I’m fairly certain I didn’t get my money’s worth out of it.

I’d much rather budget to have a few grand in reserve incase of trouble than gamble on something going that’s covered by the ‘plan’.

 

[SluyterCapital]

My 5 yr old P85 was out of warranty by approx 1 year. The TPMS system and two door handles needed replacement. I had the ranger fix the doors and sent the car in to Montreal for the TPMS replacement. Even though it was out of warranty, Tesla did this for free. N/C. With this type of service I am glad I did not buy the extended warranty.

 

[Darthbenji]

I’d love the option for the model 3

 

[Daniellane]

Me too.
Just got it on our Model S. Looked for it on our Model 3. No luck.
For me Automobile extended warranties are all about stress reduction. As far as I’m concerned, if I kept the car 8 years without a single issue in the last 4 years, that would be a best case scenario. Others would see that as losing the $4,250 bet. Car issuance is the same for me. Best case - no accidents or claims.