Extended coverage plus

My 2015 FF will go out of warranty on January, would like to extend by at least 12 months (I know 24 is the max); two questions, 1) what is the price (heard around 7.5k)? 2) can this be negotiated or that’s pretty much it? In other words, what’s a fair price to pay?


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Dealerships (regardless of make) buy extended warranty at invoice price and resell it. It is like any other merchandise, so you should be able to negotiate the price. I'm not sure what is the best price.

 

Thanks


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That seems like a total rip off. The expected value of this warranty coverage is likely pretty close to zero (or let's say $500 for the average buyer). As such, I would think anyone that owns one of these cars would be in a position to "self insure" and not bother with the warranty (or put the $7k on the roulette wheel). Only reason to buy is if you've landed on extremely delicate financial times (that are quite temporary) or if you know your car has a MAJOR lingering issue that you believe they will miss now (or not acknowledge) but that will fully materialize in the next 12 (or 24) months.

My financial coaching $.02

 

I appreciate your thoughts but I don’t see how a self insurance will be accepted by ferrari. If you are advocating not buying it and dealing with costs of and when they come up, I thought about that but with a car that expensive not sure it’s worth it. And if I want to resell it it should add to it’s value. Yes, it is definitely expensive


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most of the bad stuff isnt covered by extended warranties. ive never bough an extended warranty and i will never buy one.

 

I just renewed the Power warranty on my 2011 FF for Euro 4,250 ~ USD 5,000 for the third time. So far it has covered a couple of minor things and one major DCT issue. For me its peace of mind as it covers the major things, which are the ones that cost a lot if they go wrong... Read the small print regarding the differences between the Extended Warranty (cars up to 5 years) and the Power warranty after that which is a more limited service.

 

I have read so many threads on this very subject and I think it comes down to nothing other than peace of mind. My take is if it worked in the customers favor they wouldn't offer it, like Vegas, dealer always wins. I've done both on many cars and definitely has not been worth it over the long haul. Spent $7k on one for my first Ferrari, F430, and used $0 of it in 3 years but felt like it was worth it because it was my first Fcar and had no history with the brand. Didn't buy it on my '14 FF and definitely HOPE I made the right decision but time will tell, fingers crossed and yes I worry about it. I think you can easily convince yourself either is the right decision.

 

It is also my first ferrari and I agree peace of mind it’s what it is about


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Read the thread on PTU failure or transmission issues. Unlikely but when they come up, they can be exquisitely expensive. Just the diagnostic work and options are your cost are high. When a problem starts with a small fix that doesn’t work and escalates there is a big difference between their dime and yours.

That said there is a difference between extending your warranty on a car you own from new and know the history and use as compared to a four owner higher mileage unknown history vehicle as extreme comparison points.

The issue of the house like Vegas is a simplification. The house i.e. Ferrari enjoys several layers of profit. One -their cost and your cost of the repairs are asymmetric. Your cost is high their's, less so. Your value is higher and priced accordingly. Like any insurance the insurer needs a population to offset the cost. More no event cars to offset the high event cars. Simple right? Not so fast. It’s hard to tell who is likely to use it. They would like to sell it to most to increase their base. To the individual it’s the likelihood of needing it against the value at that time that determines the value against the cost.
Three for Ferrari having extended warranty cars and new power cars gives a significant brand value and dealer franchise value for the secondary market. Ironically these warranties enhance their dealer network brand value.

For me, I have peace of mind in writing that check as opposed to the big one. I like to drive my cars and this warranty lets me worry less. Not worry free but less.

Lastly, resale. For you, the extended warranty mostly and new power open the private sale market as opposed to the trade in market as your vehicle will be more desire-able by far and offers less risk to the next buyer. To those who have traded in recently what is the delta? Please don’t bring up the tax offset issue I recognize private sale is also multifactorial in the true value of trade vs sell. But the further down the ownership path, the more it matters to the owner.

 

btw if you are still interested, i just paid 13K for my two year new extended warranty for my 15 f12 from ferrari of beverly hills. talk to scott, the manager, good guy. cheers mate

 

I extended our 13FF and found that it really helped when taking it for service as there were some gremlins here and there.

 

Just signed up for extra 2 years on the Speciale (US$10k). Thought is was worth it as I drive them pretty hard. In addition 4 weeks before warranty ended I had a AVH (new pads and ECU) failure which would have been between $5k-$10k if I had to pay. Kinda a warning IMO

 

Really a bargain compared to new power. Comparing coverage and cost.


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I heard someone ranted a while back on a M Benz forum that when the car is under warranty, most concerns were brushed off by the service as being normal. After the warranty is over and everything is paid out of pocket, everything is a valid problem.

 

FWIW

The warranty extension 12 month or 24 month is an extension of the factory warranty.

New Power warranty becomes listed component coverage , while good, does not cover everything.

It's health insurance on your Ferrari - or as others have offered , peace of mind.

as of today pricing is :

V8
$6,300 12 month extension
$9,900 24 month extension
$4,500 Year to Year New Power Warranty ( With additional $750 discount year to year available )

v12
$8.700 12 month extension
$13,200 24 month extension
$5,760 Year to Year New Power Warranty ( With additional $750 discount year to year available )

 

A lot of " those ppl " say that but in reality , it is MUCH ....MUCH easier to take care of a client concern under warranty than to wait until the warranty expires, then try and convince an owner to then pay for a repair... < wink >

Under warranty - we don't have to wait for the parts department to put together a parts estimate ( and locate parts ) , try and reach the client, then wait on the client to approve the work ( usually after several days down while the client price shops the repair ) etc... Warranty allows the work to be completed sooner than later with most of the time , less hassle.

often times, when a car goes out of warranty , a lot of " problems " that were a concern in warranty aren't so important anymore...

Just my perspective,

S