Tesla launched an Extended Service Agreement (ESA) for owners of the Model S, Model 3, Model X, and Model Y earlier this year, but unfortunately the program is only available in the US. Thanks to CBI & Finance, Canadians can now also purchase an extended warranty for their Tesla.
The extended warranty is available for Tesla owners in Ontario, Quebec, New Brunswick and Nova Scotia, but CBI & Finance is working through the regulatory process to bring their program to all provinces across the country.
The Tesla extended warranty program offers extensive coverage for vehicles less than 10 model years old and with less than 200,000 km on the odometer. All Tesla owners can benefit from the coverage options available in 12, 24, 36, 48, or 60 month terms. If you are still on your factory warranty, the extended warranty will automatically kick when the factory warranty expires. If your factory warranty has already expired, then the extended warranty starts 30 days after your purchase (to prevent anyone from buying an extended warranty and immediately claiming an issue).
Once you purchase your extended warranty you don’t have to worry about how much you drive as all plans include unlimited mileage.
Pricing for the warranty program varies, ranging from $2,500 for a one year warranty, or for the best value $2,900 for a full five years of coverage. A $100 rebate is also available if you are a registered member of Tesla Owners Club Ontario or Tesla Owners Club Quebec.
Here are some benefits of the program:
- Eligibility for All Tesla Owners: Regardless of where you purchased your Tesla or your current warranty status, if you can select your vehicle specifics and term options, your vehicle is eligible for the program.
- Grace Period and Refund Option: Upon purchasing the coverage plan, you have a 30-day grace period before your warranty is activated. During this time, you can choose to cancel and receive a 100% refund.
- Coverage Plan Flexibility: The earlier you invest in the warranty contract while your vehicle is under full manufacturer’s warranty, the more cost-effective and extensive your coverage options become.
- Hassle-Free Service Experience: CBI & Finance offers direct payment to the Service Center. If this is not available at your local Service Center, you will receive timely reimbursement, minus your low $100 deductible.
- Comprehensive Coverage: The warranty contract is designed to provide the highest level of coverage for Teslas outside of the manufacturer’s warranty, covering a wide range of crucial parts to keep your EV running smoothly.
- Transferable Warranty: If you decide to sell your Tesla, the warranty can be transferred to the new owner, offering additional value and peace of mind.