Extended warranty?

Hi guys. Getting close to buying first Ferrari, a low mileage 2015 458. Is it worth $3600 for 12 months extended warranty? The 1 owner car has sub 3000 miles? What are the odds on of major issue in next 1500 miles? I know its a matter of risk tolerance but just curious what experienced owners would do.

 

Welcome & good luck with the purchase - the warranty gamble is a very popular theme so you could usefully look at some of the recent similar threads for background

 

It's always a gamble running a car like this with no warranty....you can't escape it. If you have the coverage nothing ever happens - if you don't, something always happens that leaves you kicking yourself. I would dread to imagine how painful it would be in a Ferrari. And don't let the low mileage fool you. There are no free lunches. Try to negotiate the warranty into the purchase.

 

I always take the warranty for the first year. At the end of the year you will have a good idea what the condition of the car is.

 

I would always take the warranty extension on a used car that is new to me. I do this because I can afford it, and because I prefer to not be thinking about potential issues when I'm driving the car. Are these extended warranties worth the cost? Absolutely not.......unless your car develops a major problem.

(BTW, that's a reasonable cost if it's for the "bumper-to-bumper" version, versus power train only, assuming that's what it is.)

Jim

 

Jim , I’m thinking it’s not the “bumper to bumper” version. I recall that was 9900 for 2 years because that’s what I paid around three years ago. Unfortunately or maybe fortunately I never got to collect on it. Ferrari won that bet but , I slept well at night. Best , Kirk.

 

A much bigger bite on a V12 for sure. Peace of mind comes at a price. Maybe look at it as a single sting as the cash departs but 365 nights of potential good sleep.

 

Thanks for all the great advise. I was able to get the warenty bundled into the deal. I’m planning to finalize the deal Saturday after final inspection. I will ask to put it up on a lift to inspect for obvious issues (leaks, scrapes, etc.). I’m new to Ferrari and certainly not a mechanic. I know I could hire an inspector to check it out but since it’s dealer certified with under 1500 miles I’m probably going to risk bypassing that expense. From experienced Ferrari buyers, is there anything in particular I should be looking for on this 458 Italia?

Walter

 

Look up 458 buyers guide in forza mag for things to look out for
get ppi done though! Doesn't matter if from ferrari dealer or not. And odometer roll back is not uncommon either
good luck

 

Yes Sir, I thought perhaps they offered him a discount on the 1 year as part of the purchase.

Jim