Selling my 488 - Should I buy the extended warranty?

I am a noob to the brand but what sold me was the warranty available on the car. Years ago I heard horror stories about the maintenance costs of the F car. If I were buying a used one, I would be paying special attention to the remaining term. And a noob question. If your warranty expires, can a new owner buy the warranty plan?

 

There was a thread recently and the consensus was not to buy an extended warranty. For resale it will likely help but 9grand worth of help? Doubt it.

 

That is a good question. I don't think you can get back dollar for dollar, but I think it will help sell it faster. One year is all you would need imo. If you trade it in I'd be curious to know if the dealer values it or not.

 

Agree. If you just want to get rid of the car faster, and don't mind the 9k loss upfront, then buy the extended warranty. I surmise that even if you drop 9 k in selling price, people would just want more future discount to offset his own warranty purchase. This is essentially a customer psychology even though your net is the same.

 

I’m in the market and would pay extra for a an extended warranty but not full retail, but also wouldn’t touch one that doesn’t have a warranty left.

Actually looked at your 488 and it’s check all my boxes except for the exterior color (wife can’t stand red). Have you thought about listing it before the warranty ends and give the buyer the option to extend?

 

FWIW , 2012 and newer models come with FREE maintenance for the 1st 7 years, then you have the option of purchasing Main Power Warranty that includes that years service as well as listed component coverage!

Yes, an owner has the option of purchasing New Power Warranty or Main Power Warranty once the Ferrari is out of warranty period(s)

Some do it , some do not, its a personal choice - risk management style.

S

 

Correct, in order to add 1 or 2 year warranty extension, it must be purchased prior to the warranty expiration date. ( Usually 1 day before when possible )

Warranty extension is exactly what is sounds like, it extends the original 3 year warranty to the 4th or 5th years.

New Power and Main Power are reduced coverage options after warranty extension has past.

S

 

What's the difference between New Power Warranty and Main Power Warranty?

 

Main Power Warranty is available in the 8th year.

Its effectively New Power Warranty that includes that years annual service(s) that are due. Cost has yet to be released / confirmed yet, but expected to be about $500.00 over what a New Power Warranty cost.

Note: Main Power Warranty will only be available on those Ferrari that previously HAD 7 year free maintenance.

S

 

If you are going to sell it yourself (vs trading it in at a dealer), I think it would be worth it to buy the 2 year warranty. It will make your car stand out from all the other 2016’s.

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All other things being equal, the car with the warranty sells first. Others may sit for months waiting for a buyer. The time/value of money should also be considered.