Tesla Motors, the electric-car company that has already won several major competitions, is now offering a second-home warranty on a secondhand car priced at $50 to $100,0000.
Tesla’s Guaranteed Second-Homes policy, which was first reported by Consumerist, is available for first-time buyers and the first time buyers will be eligible for a second home warranty on the Model S. The policy covers all of the car’s exterior components and includes a 2-year warranty, with the first year covered by the car manufacturer, Tesla said.
Tesla’s second-homes guarantee is the first guaranteed home warranty in the U.S.
The policy offers the guarantee for first time customers, meaning those buying the Model 3, the first production car in the Model X family, and the Model Y, a sedan designed specifically for the company.
It also covers buyers of the Model 2 sedan, the second-generation Model X, and all Model S cars from the first two generations.
Tesla said the policy applies to the cars that are delivered after June 2019, and is not available for future vehicles.
Tesla is one of a handful of carmakers offering second-ownerships for new cars in the United States.
Nissan has the same guarantee for new vehicles purchased in Europe and Australia, and Toyota has one for its new Prius hybrid and Camry models.
In the U, the only guaranteed warranty in a home is the warranty that covers the home, so the guarantee doesn’t cover the home itself.
Tesla also said it will be offering a guarantee on the car for buyers of a third-party loaner vehicle, which can include a second car.
Tesla will offer the warranty on that loaner, but the loaner will not be eligible.
Tesla has said that it plans to roll out the policy to all loaner vehicles and other third party loaner cars in 2019.
Tesla has been the subject of a number of privacy lawsuits and other legal challenges over the last few years, but it has been a pioneer in its business.
In the wake of its initial public offering in April 2019, it announced plans to increase its valuation by more than $2 billion.
Tesla stock is up nearly 60% since its IPO, and Tesla is still a popular choice for first home buyers in many parts of the country.