PSA: Tesla updated its service plans with now 3, 4 and 8 years options

Tesla updated its service plan and extended warranty options with now 3, 4 and 8 years plans.

Interestingly, Tesla also updated its policy and now both the service plan and extended service are not transferable to a new owner. You can get a cancellation and reimbursement if you are still within the timeframe of your plan when selling the vehicle.

It appears to be a new initiative to encourage the company’s CPO program.

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Update: Tesla says that the not transferable part of policy  update was an error. The company issued the following statement:

A change to Tesla’s Extended Service Agreement was posted with an error. Tesla owners can indeed transfer the unused portion of their Extended Service Agreement with the sale of their Tesla. Our practice of refunding the unused portion of the Extended Service Agreement also continues. In addition, Tesla owners can transfer the unused value of their Extended Service Agreement towards an Extended Service Agreement for a new Tesla Model S or Model X.

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Here are the new options:

• 3 year prepaid service, $1,325
  One inspection per year or 12,500 miles (whichever comes first), up to 3 years or 37,500 miles
• 4 year prepaid service, $2,100
  One inspection per year or 12,500 miles (whichever comes first), up to 4 years or 50,000 miles
• 8 year prepaid service, $4,000
  One inspection per year or 12,500 miles (whichever comes first), up to 8 years or 100,000 miles

You can visit Tesla’s website for more information. (Hat tip to Vik1ng for spotting the change)