Tesla Extended Warranty within 180 Days

[jdoggins]

Has anybody either purchased or, does anybody have any strong feelings FOR or AGAINST purchasing an Extended Warranty directly from Tesla? If you do so within 180 days of New Purchase you receive $500 off.

only 2 weeks into my new 2020 Model S LR+ and it is my sincere plan, given what I need this transportstion for, that will be my car for at least the next 10 years.


Thanks everyone!

 

[Tam]

Has anybody either purchased or, does anybody have any strong feelings FOR or AGAINST purchasing an Extended Warranty directly from Tesla? If you do so within 180 days of New Purchase you receive $500 off.

only 2 weeks into my new 2020 Model S LR+ and it is my sincere plan, given what I need this transportstion for, that will be my car for at least the next 10 years.


Thanks everyone!

I've seen this very same question asked multiple times since I bought my first Tesla in 2012.

It depends on your risk assessment.

If you have a crystal ball that can tell the future repairs or trouble-free future, then you can base your decision on that.

The basic principle is the same: The house always wins. That means the reason for insurance or ESA for Tesla is because there are more trouble-free cars than troubled ones which makes it profitable for Tesla and most of buyers would lose money without the benefit of owning a broken car during ESA.

So how do you know which group your future will belong to?

I myself bought it in 2012 even when people told me it's a waste of money because there's not much could go wrong in an EV.

In reality, things can go wrong with an EV too: broken memory/bubbled/leaked MCU, Instrument Cluster failure, Air Conditioner failure, Heater failure, on-board chargers, DC-to-DC converter failure (that makes people think it's the bad 12V battery)...

When I deal with an unknown future, I would just prefer to seal in the deal and pre-pay for that future.

 

[jdoggins]

What a tremendous thought out reply, wow!
Thank you for this. I really value your post and your thoughts.

 

[xG35]

This is exactly the mindset you should have if u want insurance.

In reality, you are statistically better off without it. Because chances are, it won’t happen to you. Can you afford that chance?

 

[milleron]

Can you afford that chance?

In simplest terms, this is the principle explaining ALL insurance of ALL kinds. It defines the concept of insurance, but it's little help in deciding whether to purchase insurance for any given purpose. In the end it's always a crapshoot . . . unless it was the original Obamacare, in which case one didn't really have a choice.
My decision comes up next June, and I believe that I'll buy the extended warranty, unless something turns up that makes me think I won't keep the car another four years.

 

[Tam]

...I won't keep the car another four years.

You'll get your prorated refund for unused years/miles if you prematurely sell or trade-in your car.