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Used Model 3 now available on EV-CPO.com
- Thread starter EV-CPO
- Start date
Two data points about repair costs from two reputable sources... We love our car but there is no way we would own one out of warranty or consider a used one without the 4 year CPO warranty. Any car dealer selling these cars with very little warranty left with no ability to extend the warranty will likely see offers for their cars at amounts lower than a comparable car with a 4 year CPO warranty.
I'm surprised that Current Automotive is selling the cars with just the remaining factory warranty and no apparent option to extend that warranty. With that being the case, there is no way I'd consider buying a used Tesla from them or any other car dealer who sells the cars with nothing but the remainder of the factory warranty.
I'm surprised that Current Automotive is selling the cars with just the remaining factory warranty and no apparent option to extend that warranty. With that being the case, there is no way I'd consider buying a used Tesla from them or any other car dealer who sells the cars with nothing but the remainder of the factory warranty.
I'm not sure why you keep saying that here and in every other thread. Right now, only Tesla can offer an extended warranty on the cars for the reasons stated above. Current Automotive doesn't offer an extended warranty because THEY CAN'T... Nobody is writing warranty policies on Teslas, so why is that such a surprise? You make it sound like they decided not to do it. If you read my post above, they said as soon as the 'right to repair' laws are changed and third-party warranties are available, they will most certainly offer them:
Nobody else besides Tesla can offer a warranty, yet, there are still thousands of used Tesla bought and sold every month without an extended warranty. And not every new buyer is buying the ESA if they are eligible.
I think we know that there's no way YOU would consider buying a Tesla without a warranty. That's your decision to make and that's fine. But please don't portray it as a common belief, as there are so many more cars sold without one than with one, or that buying a used Tesla without a warranty is some sort of mistake or will lead to financial ruin. It's just an insurance policy that some people feel is worth it, and other people feel it's not. There is no right or wrong answer, it's up to each persons' individual risk profile.
There are many threads on TMC where the current consensus is the ESA isn't worth it. I've bought it twice in the past for both my cars, but I likely would not buy it again. I'd invest the $5k in TSLA or something else, and over the course of 4 years, I'd probably come out way ahead, even after the 'expensive' repairs, if in the rare case they are even needed.
No one said it will result in "financial ruin" but anyone considering buying or owning one out of warranty should know that repairs are super expensive and only Tesla can repair these cars or secure parts for certain repairs at the moment.
Not sure about a "current consensus" about the ESA being not worth it and neither one of us are in a position to make that subjective claim
but I do agree with most of what else you've said. We just have two different viewpoints. I consider a warranty to be a necessity until third party repair options are available at reasonable prices and you are fine with the risk.
This is not just a Tesla matter. We've always had extended warranties for our previous premium cars and they have all been very wise investments.
Just one data point I'd like to add is that Tesla has increased the cost of their warranty options more than once and it is likely because of higher repair costs. Also they've recently started limiting the warranty period even for some CPO cars with less than 50,000 miles further pointing to Tesla themselves not being comfortable with offering a 4 year warranty for some cars even if they have less than 50,000 miles.
Warranty or not, Tesla makes the best cars available to buy and it is just a matter of personal risk tolerance for a potentially high repair bill.
I'm the guy with a separate earthquake insurance policy for my house
Not sure about a "current consensus" about the ESA being not worth it and neither one of us are in a position to make that subjective claim
but I do agree with most of what else you've said. We just have two different viewpoints. I consider a warranty to be a necessity until third party repair options are available at reasonable prices and you are fine with the risk.
This is not just a Tesla matter. We've always had extended warranties for our previous premium cars and they have all been very wise investments.
Just one data point I'd like to add is that Tesla has increased the cost of their warranty options more than once and it is likely because of higher repair costs. Also they've recently started limiting the warranty period even for some CPO cars with less than 50,000 miles further pointing to Tesla themselves not being comfortable with offering a 4 year warranty for some cars even if they have less than 50,000 miles.
Warranty or not, Tesla makes the best cars available to buy and it is just a matter of personal risk tolerance for a potentially high repair bill.
I'm the guy with a separate earthquake insurance policy for my house
It's not really subjective. If you do go back and read the dozens of threads on the subject, you'll see that the majority of people are saying it's not worth it. And in those threads you'll see me arguing FOR the ESA back then. But I've since changed my mind on it based on participating in those threads and partially my own experience.
Who knows, maybe you'll change your mind back again and feel the ESA is worthwhile one again
I think you're seeing vehicles older than 4 years old cross over into the 2 year warranty product (regardless of mileage), as Tesla doesn't warrant their products for more than 8 years in total - this is not some sign that they aren't confident in their products.
They would have to account for the additional financial reserves for the coverage beyond 8 years.
