Never hurts to ask: Some credit cards offer extended warranties on anything you buy with the card. If your expensive vacuum or laptop craps out, it’s worth asking Amex or Chase if they’ll pay to repair or replace it.
$16K for a car battery? Only if you drive an EV …
Here’s a shocker you need to know: Replacing the battery in an electric vehicle can set you back up to $50,000. For those of you keeping track at home, that’s more than a brand-new Tesla Model 3. I’m not beating up Tesla. All EV carmakers hope you don’t figure this out.
OK, how long do EV batteries last?
Hmm, 10 years? 20? Nope. According to a Daily Mail investigation, the average EV battery lasts about eight years — and after that, there’s no hard and fast rule for knowing how much time you have left.,
Many EVs lose up to 12% of their charge capacity by the sixth year, and some lose even more. Case in point: By the time a Nissan Leaf reaches eight years old, it may have lost up to 20% of its battery life — in other words, 99 miles per charge versus the 124 you got while it was new.
Why so pricey?
EV batteries use high-demand metals like nickel, cobalt, lithium and manganese, which are also used in phone and laptop batteries. Plus, you need a specialist to replace them. Most car companies only let you get a replacement at one of their dealerships.
EV batteries typically come with eight-year warranties — but beyond that, to replace it, you’re looking at $16,000 minimum.
If you’re considering an EV or already have one …
- Charge at home. When you can, use a home-based, mains-connected charger (e.g., wall outlet) vs. a high-speed charger.
- Weather makes a big difference. EVs operate best between 77 and 113 degrees Fahrenheit.
- Colder temps slow down EV batteries. It also reduces their capacity over time.
Buying a used EV
Most EV battery warranties cover the first eight years or 100,000 miles, whichever comes first. Make sure you know exactly how much time is left on the EV battery’s warranty and how much it’s going to cost to replace it.
🤣 Before you say “Tesla” backward, make sure everyone’s ready. All set? (Oh, tough crowd today!)
Are Amazon extended warranties worth it, or a scam?
While warranties can last a few years, recalls can occur anytime. Some defects are harmless and only affect functionality, but others can be dangerous.
When you buy a TV, blender or smartphone on Amazon, you’ll see a message asking you to purchase an extended warranty. Sure, you can, but should you?
Ford’s self-driving repo man, Bing AI’s new personalities & discover your Facebook friend rejects
Plus, banned from Airbnb? It might not be your fault. If you’re an EV owner, I share the best temp for your car’s battery range. (Hint: it’s warm.) If you print wirelessly, make sure you do a few things first for your security. And before you click “buy” on that Amazon product, here’s the lowdown on whether their warranties are really worth it.
Latest shopping scam: Using 'Shark Tank' to trick you into thinking something is legit
You might not know it, but not all celebrity endorsements are legitimate. Scammers often use false claims or a well-known person’s image in advertising to create the illusion of association. This happens without the knowledge of the celebrity.
Money tight? 10 ways you're wasting cash (even when you think you're saving)
You might think, “There’s no bad way to save money.” In reality, there’s a lot you can do wrong — no matter how good your intentions are. Tap or click here for five ways you’re wasting money on tech purchases.
By wasting hard-earned money on extended warranties for electronics. Most devices and TVs will break within the first 90 days if there’s a problem. Otherwise, they’ll probably fail after around five years. Now you know!
Buying a car? Don't get fooled into paying $2K more
Buying a new car can be a stressful event. You could spend a lot of money, and if something goes wrong, you could be stuck with a bad deal. You also shouldn’t be paying more for unnecessary features or fees you don’t know about.