I've been using Hipshot Xtenders on several of my basses. I rarely use a 5 string and the Xtender affords me the ability to drop the tuning on my E string to a preset tuning (Eb or D) which covers nearly all of my needed applications. You just tune it normally then release the lever and use the thumb screw to tune it to the lower note. Return it to the original position to get back to the open E. It's just that simple.
One thing I would encourage you to do is to make sure the "E groove" in your nut is smooth and the string moves freely through it, especially if you're using round-wound strings. If the string isn't moving freely it could affect your tuning when you return the lever back to it's original E position.
You can actually add a "double-stop" lever to some of the Xtenders that gives you a second tuning position.

I added the BT12 to my Fender American Pro II Precision Bass. Super easy to install and set up. It is really great to be able drop D tune with the flick of a switch. Fat Bass Tone is always my first stop. Max and Brian are super responsive and knowledgeable. Just make one purchase and they will be your go to. Thanks guys. Appreciate you both!

Easy to install, looks just like the other tuners on the bass, works great!

Hipshots are great, they work and you can easily de tune to C# if need be. I Love ‘Em!

I ordered a Hipshot extender for my PRS SE bass. It arrived quickly, and was relatively easy to install with just a screwdriver and pliers. Adjusting it to make sure the drop D was in tune is simple also, and Hipshot has videos available to help. All in all, a solid product that I look forward to using in public some day soon!