Extended Warranty

I opted to extend the factory bumper-to-bumper warranty for 2 years when the original 3-year expired on my car. I don't think any aftermarket warranty is going to measure up to the factory coverage.

That being said, in my experience, what you want is the kind of extended warranty that specifies what it does *not* cover, as opposed to what it *does* cover, because when they specify what it does cover, anything else is excluded, period. And trust me, you are not going to find something like a variator or speed sensor inside the DCT listed on those warranties. Or there will be language that says "leaks not covered" or something that they can use to weasel out of whatever other charges resulted due to a leaking component. It is in their financial interest to deny you coverage, so that's what they will try to do, especially on a big repair.

The other thing to do is talk to the place who services your Ferrari -- I would not expect the dealer is going to be very complimentary toward aftermarket warranties, but if you are using an independent mechanic, they will have experience with the larger ones and can tell you which are easy to deal with and which fight tooth and nail to deny everything and cause a big headache.

When I was looking into warranties on a BMW the Fidelity extended warranties got good marks from everyone. However, I would bet the annual cost on the Fidelity would easily match the $4500 or so for the factory extended warranty, and the coverage on the factory warranty would almost certainly be better. That is the extended bumper to bumper warranty I'm referring to, not the New Power warranty. There are several threads on the differences.

 

Also check with your dealer to see if they will even deal with an aftermarket warranty. I had one for a Volkswagen and my dealer would not honor it so I had to pay out of pocket and wait for reimbursement. I think you will find that the money saved is not worth the effort.


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I also just extended with the 2 year factory ext. warranty. It covers the car completely as the original 3 yr. warranty did.

 

I got the extended warranty for my 430, thinking that it would be easier to sell (I traded it on consignment, it did not sell after 4 months, so got the trade-in value). I thought the warranty was a bit pricey. (But what isn't for a Ferrari).

As my 458 nears the end of fits factory warranty, I was looking around. For a Benz, I learned the importance of the two items mentioned by previous responders --- a warranty that listed items that were 'excluded' (rather than included, and of checking to see if the dealer honors the warranty. For the 'Benz, my local credit union offered a warranty that excluded any damage that was caused by a failed bolt, screw, or fastener (which I found rather deceptive)

I was planning on asking the warranty sales staff to give me examples of dealers they worked with. But I'm having a hard time even finding anybody that covers Ferraris. I will talk to Lasalle.

I just got off the phone with Geico --- they do not cover Ferraris. And their extended warranty has to be purchased prior to the vehicle being 15 months old.

If anybody has actually bought one that worked, it would be great to hear about the experience.

Mat
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