How many owners are buyng extended warranty?
me but got it at $2500
Nope - who knows what Tesla will release 4 years down the road. Had they allowed for transfer of warranty to dealers when the car is sold, I might have gone for it. I've always traded my cars in for new ones - no interest in haggling with private individuals.
I would have if it was available in my state.
I got it when it was $2.5k. Even though the powertrain should be solid, all the motorized door handle, power trunk, map lights, the screens (my fan was defective so they replaced the WHOLE dash screen), AC unit, air suspension can be prone for failure. It's a new car company for this particular model and there's nothing proven yet in terms of reliability.
Even if I keep the car for only four years, the additional four year warranty will be good for resale as it can be transferred to a new, individual buyer.
You should be in no hurry to purchase it. You have up until the original 4-year warranty is over to purchase the extension.
Of course the price could differ quite a bit. Hopefully Tesla will give us a headsup if they're ready to raise the price to $6000.
Planning on getting it...haven't taken delivery yet.
Am I misunderstanding this statement on the Services Sign Up page?
"Four year extension plans are only available in combination with an initial four year service plan at this time. Extension plans may be available for individual purchase in the future. Availability, duration, and pricing subject to change."
I read that as if you must buy it with the initial plans. I Tesla asked if people from states that don't have plans approved yet can get waivers from that condition and I was informed that we could. I'm hoping that information was correct.
You have 30 days from delivery to purchase the extended warranty. I paid $2500 for the extra peace of mind because I intend to keep my S60 for at least 10 years.
@Mathew98, actually you can purchase the extended warranty 30 days AFTER your current warranty ends (4 years;50,000 miles).
You must purchase the prepaid service plans within 30 days of taking delivery.
Correct, VipDoc. That's the way I understand it as well.
Here's the actual text from my services page:
EXTENDED SERVICE AGREEMENT
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 50,000 miles (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.
My main concern is that accidents happen. What happens if I get into an accident that totals my car before the initial warranty expires? What happens to the prepaid extended warranty that never came into effect? Am I out that $4000? Will they refund that to me since I never had an opportunity to use it? Going to ask these questions to the service center when I take my car in next week.
You're out the money, VipDoc. It's a valid concern. By not purchasing it now you can't lose it in case anything dramatic happens within four years but you risk the cost going up to $8000 four years from now and you're back to square one.
I'm still thinking about it. There's something nice about knowing that anything that goes wrong with your car within 8 years is completely, 100% covered.
@captain_zap and others.
Unless something has since changed, there is no requirement to service the MS to maintain either the original 4yr/50k warranty (see Elon's public statement re Best Warranty) OR the extended 8yr/100k extended warranty! I have an email specifically staing that directly from George B. which I received in response to this exact question which I asked him directly before I purchased the extended warranty during the period in which they decided to honor the original extended warranty pricing for existing owners when the new pricing was announced. Fact!
After my last post, I noticed the specific language you quoted stating "at this time" so perhaps they have since change the terms. My email from George B., is printed and framed with a copy locked in the safe! :-). That said, this change would be completely inconsistent with Elon's public statements at that time.
Thomas, that would be very irritating to lose that money when the warranty didn't even come into effect.
I agree it is nice knowing if something goes wrong then everything is covered. If Tesla increased the price beyond $4000 then I will have to take my chances. Especially if they increase it to $8000. That is $2000 per year worth of repairs. If I have $2000 worth of repairs every year then there is something majorly wrong!
I don't think the warranty will be worth it if it increases beyond $4000.
You really have to read it close. They chose a misleading name for the service plan.
One is an extension of the 4 year 50000 mile warranty the other is 4 year 12 month or 12500 mile annual service that is $600 a piece or $2400 for 4 or bought 30 days before the end of the original 4 years or 50,000 miles for $1900 which is a savings of $500.
The other is a 4 year 50,000 mile warranty at the end of the 4 year 50,000 mile factory warranty bringing it to 8 year and 100,000 mile warranty but it must be bought within 30 days of delivery of the car but may be offered at a later date sepaeately.
One is an extended warranty the other is a annual inspection service which covers wiper blades, brake pads, roadside assistance and remote monitoring of your car.
On my services sign up page, the Extended Service Plan and the Extended Warranty are only sold together as a bundle.
That is why the statement, "Four year extension plans are only available in combination with an initial four year service plan at this time." makes me think that extended warranty is only offered when the car is new.
Different States have different laws though, so the answer might be different for each State. Maybe Tesla has different offerings based on that issue. I've tried to purchase the Extended Plans but I just get a message that they are unavailable in my State.
Interesting. I am in CA FWIIW. Could be state related or a general policy change since June.
Back to the original question, I bought @ $2500 since this is the first car I plan to keep for a long, long time! Provided I pay for the annual service, the car is fantastically well taken care of for the next 8 years!
I got it @ $2500. I got the whole kit and caboodle 8 years warranty and service so that way I don't have to worry about parsing out which plan means what. Gives me piece of mind on the air suspension and touch screen too.
As an added note, I'll see people complain from time to time about the incremental improvements in the car (parking sensors, better build quality and what not) and that the earlier buyers got screwed out of these but IMO we got the advantage of lower pricing and decent deals on the service/warranty plans.
@hfcolvin. We also got to drive a superior machine sooner. First on the block has immeasurable cache as well.
@jtodtman AND there's a real cachet to it as well.
As others have already said, the extended warranty and the extended service plan are two different things. Yes, to get a 4 year extension on your extended service plan you must purchase the first four year extended service plan. It's the 4+4 extended service plan. THIS IS FOR SERVICE. Has nothing to do with the warranty - totally different product. Also, only the service plans must be purchased within 30 days of delivery. The extended warranty can be purchased at any time during your initial warranty period, just be aware that Tesla may raise the prices in the future.
The warranty can be purchased separately in states where it is legal to do so. If you do not see an extended warranty (not "service") in your dashboard, then you probably cannot buy one in your state due to the local laws.
CORRECTION - The extended warranty is called "EXTENDED SERVICE AGREEMENT" by Tesla. The pre-paid service plan is called "4-YEAR PLAN" and variations thereof. This is directly from my dashboard.
@blastum thanks for finding that "t" for me. I had no idea my ipad dropped i.