Extended Warranty or Not? - 488

As it is a 2016, you would be looking at the option of a 1 or 2 year warranty extension... exactly like the coverage you currently have.
Will run you approx. $6,300 ( 1 yr ) or $9,900 ( 2 years )

New Power Warranty kicks in after the above options run out and will run you $4,500 per year ( before renewal discounts and such )

Going back to your org question though...

I have only experienced a couple malfunctions that would concern me, both were fluid leaks, one relating to a turbo failure.

A good pre-warranty expiration inspection would be the first step... if all is well, only you know your risk level.

S

 

Buy the warranty. If you can drive with no worries of a mechanical issue you will enjoy those 1500 miles even more!

 

In my opinion with what I’ve seen on the Ferrari’s that are in the service department when I go in there, and I go in a lot, because I know all the mechanics there, I would strongly recommend getting the warranty.
The problem is that I think your numbers are off. I just purchased a 2 year extension on my Speciale Aperta and for one year they wanted around 7,000 and for 2 years I paid about 10,500 with sales tax.
So you should investigate the charges with your dealer.


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I would buy the warranty, you would get peace of mind as low mileage is a not a good predictor of whether you will have mechanical issues. I believe the warranty is transferable to the new buyer in case you decided to sell.

 

waste of money. save it and pay out of pocket if something happens

 

It’s not a waste of money when a transmission goes bad on the car. Just a sensor problem on the F-1 is 10,000 dollars
And if it has a bad wet clutch it’s up between 15,000 and 20,000 and believe me it happens often more then most people know.


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Insurance = peace of mind

 

Buy the warranty!

 

I'm in the school of thought that it's a numbers game, nothing else. Look at probability. Probability says you are going to lose money with it. They are not in business to hand out free money/repairs. They make a ton of money on these warranties. If I bought warranties on all my prior cars, it would have cost me the price of a whole other car. I haven't spent money on repairs above the cost of the warranty yet, on any of my cars, so I'm WAY ahead of the game. At this point, if I look at the big picture, I would still be way, way ahead even if I had to pay for a brand new transmission for my 458.
Warranties are good for people that are not handy, have commuter cars, and are on a tight budget where a repair would really mess them up. They need it as an insurance policy or peace of mind, and it's considered a fixed cost to them.
All that said, YOU have to do what you are comfortable with, obviously it's a risk, and some people will lose. However, I can tell you, out of all the Ferrari guys I know, most get the warranty, but not one ever said "thank god I got the warranty or I would have been screwed" (yes, I know those people exist, but many more have said they didn't need the warranty and wasted their money).
Using your numbers, you are paying an additional $3/mile (for the warranty, on top of every other cost) to drive that car if you sell it in a year with an additional 1,500 miles on it. (assuming you don't use the warranty. Of course if you use it, and the repair cost more than the warranty, then you'll be ahead and glad you purchased, lol)

 

Paying an extra 4500 to drive a car 1500 miles is nothing but ridiculous. If it was 15k then maybe it wld make sense.


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Better yet ill buy that risk for 4k. Let me know if you want to do that trade.


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I'd pay the money. I've always found if you pay for warranty nothing ever goes wrong but when you don't - boom!

So a paid warranty generally means worry free driving until they ask you for it again.

 

amazing how much people ***** and moan about having to pay 6k for a major service every 5 years on some of the older cars but paying 4500 for 12 mos of insurance makes sense - only on fchat!

 

Statistically a paid for warranty or insurance is always a bad deal for the buyer - because that's the only way the seller could make money.
But the buyer is paying for peace of mind, and we're not talking crazy money here.
I just bought the two years extension in France for EUR 7,500 (tax included).

 

4000 miles is nothing. 458 and 488 cars are bulletproof. Above all, you're the owner so you know the vehicle's history and I would skip it. Routine service is still covered, but you already knew that.

House wins Everytime.

 

Well I for one am saying thank god for the extended warranty as I just had a sensor in the transmission replaced.

 

I'm sure there are many more on Fchat as well, since there are thousands of users.
Maybe we should do a new thread with a poll to see how many had repairs that had warranties and the fix exceeded the cost of the warranty? vs those who had warranties and the cost of the fix didn't exceed the warranty.
I would be very curious to see the results.
We also can't forget that a lot of stuff gets denied. One of my friends had a 430 that had a leaking actuator and they didn't cover it because it was "a leak" WTF!
what else do they expect to happen? They don't cover the common failures it seems.

 

I decided to do the Poll to see the results.
https://www.ferrarichat.com/forum/threads/a-poll-to-decide-if-a-warranty-is-worth-it.588663/

 

Keep in mind repairs at independent shops very familiar with Ferraris will be way less than same thing at a dealer.

 

I agree. There are also many people, like myself, that will do repairs themselves. In that situation, the breakeven point will be way different than the person that goes to the dealer for everything. I guess that for arguments sake, we can just assume dealer repairs for everything, just to get a baseline.