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Extended warranty and service plan details

From George B's blog post today:

Model S comes standard with a Four Year, 50,000 mile New Vehicle Warranty. An additional Four Year, 50,000 mile Extended Warranty will now be available for $2,500. Please note, this is a “Four Year” Extended Warranty, not two or three years like most Extended Warranties. You will be able to purchase this option through your MyTesla page in the near future.

Several months ago we announced a Four Year, up to 50,000 Mile Prepaid Maintenance program for $1,900, or $2,400 with unlimited Tesla Ranger visits. You will now be able to purchase an additional Four Years and 50,000 miles of Prepaid Maintenance for an additional $1,900, or $2,400 with unlimited Tesla Ranger visits. With this additional program you can now cover everything on your Model S, except tires, for eight years and up to 100,000 miles for $3,800, or $4,800 with unlimited Tesla Ranger visits.

I think this is very reasonable and am glad the service costs are not higher in years 5-8. Thoughts?

As I see it, here are the choices (with ranger service):

Service Plans
Basic plan = 4 years / 50,000 miles = $2,400
Basic + Extended Plan = 8 years / 100,000 miles = $4,800

Warranty
Included Warranty = 4 years / 50,000 miles = Free (source: blog)
Extended Warranty = 8 years / 10,000 miles = $2,500

As I understand it:
With $2,400, you get Basic plan
With $4,800, you get Basic + Extended Plan
With $4,900, you get Basic Plan + Extended Warranty
With $6,300, you get Basic Plan + Extended Plan + Extended Warranty

However, I can see the confusion. How do warranty and plan differ? Especially, if everything except tires is included in the service plan and the battery has an 8 year warranty, what does the extended warranty give you?

~ Prash.

petero;
Not sure the heated seats can be cloth; that's not specified.

The confusion comes from the following statement by GB:

"With this additional program you can now cover everything on your Model S, except tires, for eight years and up to 100,000 miles for $3,800, or $4,800 with unlimited Tesla Ranger visits."

This is technically incorrect. These amounts will cover everything ONLY if you also purchase the extended warranty for $2,500.

As for the heated seats, I'm sure what is meant is that ALL cars will come with the heated seats. Non-performance owners will need to pay extra for leather. It is not clear whether leather will still be included for performance cars.

If you aren't maintaining your car, I would expect you also run the risk of voiding certain warranty repairs. That doesn't mean you need to prepay for maintenance though.

@Schlermie,

Right. One thing we don't know is the cost of the annual inspections. Presumably, if you pay for those, and pay for any required service that is not covered under the warranty, your extended warranty would stay valid without the maintenance plan. If the cost of annual inspections is high, however, you would be better off paying for the plan.

Yes, some were suggesting the inspections' cost was equal to the plan!

As far as heated seats, yes you can have heated seats in cloth now, this was standard equipment annouced during Canadian pricing for the Canadian market. So it's now standard in the USA as well

Not sure if this was already mentioned but I got a response from Tesla that the extended warranty must be purchased at time of delivery.

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4 years
8 years
9th year
Total

Warranty
Free
2,500
on your own
 

Maintenance
(Rangers)
2,400
4,800
on your own
 

85 kWh battery
Free
Free
12,000
 

Total
 
7,300
12,000
19,300

Sorry, the spread sheet format doesn't seem to work so how about going to google sheet:

https://docs.google.com/spreadsheet/ccc?key=0AjgOsYi51mofdEdhME8ydkgzbVZ...

@Tam;
The <pre> and <h2> tags may work/help.

I did some spreadsheet work to compare the total cost of each service plan option over 8 years, dependent on your average percentage return on investments, compounded annually during those 8 years. Here's the summary:

If your average return on investments is less than 4% annually, you should go with the 8-year prepaid ($3800) service plan.

If your average return on investments is between 4% and 10% annually, you should go with the 4-year prepaid ($1900) service plan and then pay-as-you-go $600 annually for the remaining 4 years.

If your average return on investments is greater than 10% annually, you should pay-as-you-go $600 annually for 8 years.

NOTE: None of this analysis includes any cost of Ranger service. It assumes all your service is done at a service center. It also assumes the pay-as-you-go service cost remains at $600 annually over the next 8 years. Of course, there are risks from locking yourself in with a prepayment as well.

Schlermie. Can you outline your working assumptions?

@Lou in Socal,
They have NOT offered the choice of buying the extended warranty when I picked up the car, I don't think they are ready yet, that's why GB says " You will be able to purchase this option through your MyTesla page in the near future."

Tesla also hasn't offered to take my money for the service plan, when I picked up my car in Oct, the delivery specialist said they would be contacting us for that in the future.
Has anyone been able to actually purchase either yet?

@Schlermie

That assumes the price will always be $600 per year. What if it goes up?

Reviving this old thread from right after the service announcement. Consensus was positive then...

And I miss Volker's charming insight.

↑Reads like spam.

Bringing this thread back. I was pondering purchasing the extended warranty since I am loving the car and fully intend to keep it for 8+ years assuming no accidents and Tesla stays in business. Anyone hear any rumors or hints of a price increase coming?

Also I wasn't planning on taking in for yearly service unless I had issues but it looks like that would void the extended warranty (not the base 4/50k). You guys think it would?

And for those that just think we Tesla owners shouldn't worry about $4,000 or $600 here or there remember we are not all wealthy! I'm a hard working pediatrician and love my Model S but it was a big bite of cash for me to swallow!

@KidDoc
I also received information from Tesla stating both the Buyback Guarantee and the Extended Warranty are void if 12,500 maintenance intervals are not met. I plan to keep the car for 100k miles and purchased the Extended Warranty. Normally, I wouldn't purchase an extended warranty for anything. However, I think this is a special case where repair costs could be unusually high and there are many unknowns. My car has also needed many repairs. This is a choice based on personal tolerance for financial risk. Of course, opinions will vary widely.

I'd love to buy the extended warranty but State of Fla won't allow it. :-( I'm for changes in the next 3.5 years.

Can someone point me to the details of the Extended Warranty that you can purchase after the standard four years? Is this Extended Warranty the one that requires annual service?

Here is the verbage, also has a $200 deductible per repair which also decreases the value of the extended warranty somewhat.

You must follow correct operations
procedures and have Your Vehicle serviced as recommended by Tesla. If requested, proof of required
service, including receipts showing date and mileage of the Vehicle at the time of service, must be
presented before any repairs under this Vehicle ESA commence. Service within 1,000 miles and/or 30
days of Tesla’s recommended intervals shall be considered compliant with the terms of this Vehicle ESA.

Also noticed this statement, yuck!

------------------------------------

The cost of transporting Your Vehicle is not included in this Vehicle ESA and You are solely responsible for the cost of transporting Your Vehicle to the Tesla Authorized Service Center.

Just to be clear - The Annual Service appears to only be required when you buy the ESA. You do not need Annual Service during the vehicle's first four years to qualify for the ESA.

And I think many have gotten verbal assurance from TM that these requirements are being eased in practice; I suspect their remote monitoring etc. is turning out to be sufficient.


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