NEW Tesla Extended Warranty - Should You BUY It?

[@JremiahJones]

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[@bh9262]

Keep your $2,000 in an interest bearing account and apply any money of that towards any repairs, you’ll probably not need to spend any of it but if you do it will be available to cover you! If you don't need it during the same time frame, reward yourself!

[@monkeyrun]

$2000 is just 8 hours of Tesla mechanics labor charge. you have vastly underestimated how much fixing a tesla cost. That said, the probability of having need to use the extended warranty is pretty low, but for those who do need to use it, it's a lifesaver.

[@bh9262]

@@monkeyrunThe warranty doesn’t fix everything that breaks. Only manual defects and such. Read carefully the warranty coverage protection

[@CEOAlex]

I considered but the vast majority of tesla owners that have had theirs for a long time say they've spent far less money to fix anything that has gone wrong than the cost of the warranty itself.

[@franklong6269]

I bought a used Tesla Model 3 with 77,318 miles on it. I have put 1000 miles on it so far, and I haven't had any problems. Despite the high mileage, I have between 95 - 96% of my battery capacity left. If I drive at the speed limit, I get around 4.5 - 5 miles per KW. So, my range can be as high as 5 mi x 63.3 KW = 317 mi. Note I have never gotten that range because it would be in-town range and everyone in our city drives over the speed limit. That is only possible if I baby the car and drive at the speed limit. My real range is closer to around 240 miles on a full charge if the weather is not too hot or too cold. I think that in good weather, I can get 250 miles of range and still drive reasonably fast. The car is rated for 272 miles of range, but that is the EPA rating. I have not taken a road trip with the car, but I would bet that driving at 70 mph, I would get somewhere around 240 highway miles if the grade of the road is reasonably flat. I might get more than that, and I will be interested to see what the range is on a longer trip. If I push the car and drive at 80 mph, I think I would get closer to 200 miles of range, maybe 210 on the highway. Conversely, in the city, it would be possible to get 300 miles of range if you drive slowly in "Chill" mode and the weather is not too hot or cold. Since I live in Arizona, we have about nine months a year of weather that is not too hot or too cold, and it is very dry. The grades are generally flat unless you are going to a National Forrest in the mountains. So it is an ideal state to get great range in an EV. I really like the car a lot. It is fun to drive, exceptionally fast, and for the first 1000 miles, I think I spent around $70 in electricity to charge the car. Note that I installed a Tesla Universal Home Charger (Tesla calls it the "Universal Wall Connector" because the actual charger is in the car). So, at home, I pay $0.13 per KWH to charge the car, which is dirt cheap. I own a Toyota Tacoma four-wheel-drive truck, and $70.00 in gas would get me around 200 - 225 miles of range at $4.00 per gallon. So even though I am driving fast in my Model 3, it is about five times cheaper to drive than my Toyota Tacoma, and so far I have saved approximately $240.00 in gas costs alone by driving the Model 3. Those are just amazing numbers. I figure if I drive this car 100,000 miles, it will have paid for itself in gas savings alone because my total cost to purchase the car out-the-door was just over $24,000.00. This doesn't include insurance costs, but I got reasonable insurance rates for both my truck and the Model 3 through State Farm because I bundled my home with the cars, and that gave me a 20% discount. Carrying insurance would cost about the same if I had bought a second gas-powered car, so I don't include insurance costs in the pay-back period.

[@socom9114]

Clear! Concise! Complete! for an 8 min video! Thank you!

[@maycausedizziness]

Great video! It's interesting to consider an alternative approach, like setting aside money in a high-yield savings account instead of purchasing the warranty. This way, you'd have a financial buffer for expensive repairs like the PTC heater (which could cost around $1,000 or more) or the PCS (potentially several thousand dollars). It's definitely a gamble to pay for the warranty, considering the limited coverage.

[@JremiahJones]

Yeah, I see a lot of people that just sit aside money. Myself included but mainly for tires currently.

[@shdmd2118]

Problem with high savings strategy is what if you run into a 5k repair?

[@mrlogboy]

@@shdmd2118and that is the gamble that won’t have a major air condenser issue or another conpnent. How well do you sleep knowing the what if’s lol I have heading to it but for my 2 week old car (this week) we will see lol

[@denysarcuri1213]

Excellent presentation. Considering the extending thing, but I also have a long time to think about it. I'm leaning "no." For one thing, if you consider it a gamble, consider it like a gamble in a casino. Casinos come out ahead consistently at the expense of the gambler. I think Tesla wins on these deals or why would they do it? I'm afraid of a $20,000 repair, but not a $5,000 repair. And certainly not a $1,800 repair. I gave you a thumbs up for the straightforward, great summary of your thoughts on it.

[@JJayJayJJJay]

Bought used outside of Tesla and not able to purchase. Probably wouldn’t have bought anyways.

[@anthonybrown4874]

Given the price of the cars and the supposed advantage of less moving parts to go wrong compared to IC engined cars I think not giving the Tesla products ac7year warranty shows a lack of confidence in the quality of their product Kia give a 7 Yr hyundai a 5 Yr Suzuki 7 Toyota a 10 that's in UK. There will be a lot of scrapped Teslas out there as the expensive repaires exceed the cars value.

[@johnqcitizen9177]

I have a 2023 MX And i followed your instructions and looked if i could buy the extended warranty and I could have for $3500.

[@puaspiton]

Is $0.8 a mile for my model Y. That is what I’m saving on fuel! ?

[@browntoothpaste]

There's so many Teslas with the chrome trim in my town with only half of the foggy tail lights 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂❤

[@highvoltage3479]

Good luck with your Warranty

[@Mainuh]

My credit union actually offered me an after market warranty. But I saw this announcement a couple weeks ago and I have a new 3/7/23 Austin build MYLR and I do not have any warranty offer under upgrades in my app? But I think I'd rather take the $2K and trade for a new one at the 3.5-4 year mark. But I'm still wondering why this isn't being offered on my new MYLR. I did download a copy though. Thanks!

[@living4christ]

Did the after market warranty cover the battery pack?

[@fafasa1]

I drive for Uber I put almost 50000 thousands miles should I get it ?

[@orlandocastillo6862]

Same question , did u end up getting it ?

[@godislove025]

Great video

[@lawrencefitzgerald]

nah worth it for me as I drive high miles and it would cover a little more than 1 year of driving

[@cifey]

Cars should have a subscription model with monthly payments starting at $49.99 that quietly increases with the age of the car up to 10yr/100k. If 90% of the customers paid it, it should work out ok for Tesla if they have decent quality.

[@freetrailer4poor]

10 yr 200000 mile

[@guttagutta420]

Volvo has a subscription where maintenance is included. And you can trade it in for something else anytime after 4 months.

[@TrueAmofah]

Thanks for the info, I’m about 500 miles away from my basic warranty so I’m heavily considering the extended warranty

[@MichaelKlesyk]

I was worried if I wait.. With my luck, they'll double the price of the warrsnty.

[@techtim123]

🧡 I have an aftermarket warranty 😂🤡

[@oa1583]

What does it cover

[@browntoothpaste]

Buying an EV is a waste as long as there's no parts counter...

[@casimirotucuca4468]

great channel