F8 Extended Warranty options and pricing

I have a 1 year extended warranty on my F8 spider. Starts when my warranty is up on 1/29/24. Image Unavailable, Please Login

 

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Ferrari offers 1 year extended warranty as i pointed out. You claim they didn’t offer one and I proved proof. You have 2 years on yours. That is an option as well. See this post for the pricing. https://www.ferrarichat.com/forum/threads/ferrari-warranty-options-and-pricing-as-of-8-18-2022.663929/

 

woah, wasn't looking for a fight.... I never said they didn't offer 1 year... I said, "I do not BELIEVE they offer it" but good to know they do. and yes, I paid 6900 for 2 years and the price in Florida is 5995 for two years.

Guess maybe I got that 2 for 1 thing I’ve seen mentioned but I had never heard of- don’t know but feelin lucky I guess or like a rock star like you said

 

No fight intended. We are all good.

 

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THIS seems to explain the discrepancy between getting 1 or 2 years. I bought from Ferrari dealer so I got 2


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Guess there is a lot of different info out there. Bought my car from Cauley Ferrari and got 1 year. Had the option for 2 but only bought 1 year. First picture is from Ferrari.
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yes, there seems to be a lot-- however, the CPO factory extension is different than just a 'cpo' warranty.... they seem to be labeling all their service contracts as cpo and it's making it confusing-- all those above seem to be for cars OUT OF FACTORY warranty and are 1 year from DATE OF PURCHASE.... that is entirely different than a CPO Ferrari Approved newer Ferrari that is still within factory warranty.... the latter mentioned are the true definition of CPO- as with ALL makes, you can NOT buy a CPO warranty unless it still has factory remaining and it goes through it's inspection.... It seem Ferrari is just calling any service contract 'CPO' even when it's out of factory.....

PREOWNED extended service contracts (which everyone mistakingly refers to as warranties) begin the day you buy them and go for the length of the contract OR to the allowed mileage FROM the current mileage.... New car extended service contracts run in conjunction with factory warranty and the term and mileage is from the original in service date (overlapping and extending beyond ex. factory is 3/36, you buy it new and buy a 6/72- it overlaps for 3 years and extends for 3 years more)... a true CPO warranty is the ONLY type that 'begins in the future'... it adds x years and/or x mileage (usually unlimited, even MB does that) from the day the factory warranty ends..... so... in the ads above, you see they say 'adding 12 months from date of purchase' so this clearly shows that it is a preowned extended service contract....

 

Very confusing. I know my F8 was bought with 1.5 years left of factory warranty. I bought it from a Ferrari dealership. It was CPO and I bought a 1 year extension. Again, I had the option for 2 years but I bought 1 year. I’ll have to dig thru my paperwork to see what I paid. Maybe Tom Fazio (or any other Ferrari salesperson) can chime in with the current program and pricing?

 

I am trying to be as clear as I can as most people don’t understand service contracts correctly…. And when I read back what I wrote, I fear it’s not clear— and I care about this community and Ferrari so I want to keep trying to be clear—- I’m a finance manager in a dealership and have been selling extended service contracts every single day for 27 years (except an 8-9 yr break where I played poker lol) anyway, maybe it’s more clear if I say that CPO EXTENSION either for 1 year or two is only available on 1. cars that have factory warranty remaining 2. Cars that are bought from an authorized Ferrari dealership 3. Cars that the dealer chooses to call ‘Ferrari approved’ 4. Cars that the dealer spends the money to do inspection/maintenance and repairs both cosmetic and mechanical for CPO 5. Cars where the buyer purchases the CPO extension. — otherwise, any car not within factory warranty or not purchased from a Ferrari dealer or are either mechanically or cosmetically unable to be approved and pass CPO inspection or if the buyer chooses not to purchase the CPO extension ‘at the time of vehicle purchase’, then if ANY of those are the case, then it will now only be qualified to purchase a preowned extended service contract— not a CPO extension….. but the confusion is that everywhere you we look, we see CPO CPO CPO — even on 458’s, F12’s Californias and 488’s which are long gone from qualifying for a CPO extension.

And as far as pricing goes, Florida is one of if not the ONLY state where service contracts are regulated by the state. We can not sell it for $1 more or $1 less than the regulated price for that provider with those terms… every other state, the dealer has a cost and they can sell it for whatever they want… however all dealers regulate it themselves to stay reasonable, not gouge etc… for example, they may simply say, no more than 2k or 3k profit allowed on warranty sales…

Examples of regulated products in Florida are :
Extended service contracts
Tire/wheel policies
Dent/ding policies

Everything else like gap, etch, theft, cosmetic policies, key replacement policies, deposit recovery contracts, etc etc etc are sold for up to max allowed by the dealer group.

And the regulated amount for the Ferrari CPO extension in Florida is $5995 with a cost of $4900. This $4900 is the same for every state in the US. New York sells for $8400 as an example.

And lastly, as for the $5995 being for 2 years or just one…. It was told and sold clearly to me as being for two years. MKraft was told and sold differently so the only explanation I have for that is I must’ve gotten that two for one deal thing that some people have mentioned but I’ve never heard of and they didn’t sell it to me that way or with that phrase either.

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Very well explained. However, you can’t just throw out playing poker for 8-9 years without details!?!? Professional or a grinder? Vegas or locally (Seminole hard rock)? WSOP events? Maybe we played in some of the same tournaments in south Florida.

 

Haha— ya I played professionally for 9 years. Wrote for Cardplayer magazine. Created the first online poker video training website. Coached over 500 players around the world. Yes to WSOP,WPT,EPT Monaco, AussieMillions etc etc etc - online tournament player and ambassador for paradise poker… live cash player and tournaments— still play on Pokerstars (shhhhhh ) detailed? Lol


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Thanks for explaining all this…. Now I’m infuriated that Lauderdale and Tampa both told me $11,800 to extend my warranty on my 2019 488. I bought it from Lauderdale too.

 

Well, you’d have to have purchased it when you bought the car…the CPO that is. If you are asking to buy an extended contract AFTER the date of vehicle purchase, then ya, it probably is 11,800 plus inspection etc. Remember true CPO extension is purchased at time of vehicle purchase from the dealer

Or are you saying when you were buying your car, they told you 11,800 to get 2 years CPO? Maybe it also has something to do with this 2 years for 1 special thing others are talking about. Maybe that’s a new thing and wasn’t available when you bought yours?


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05F430F1

Would it be possible to give me the exact Florida statute to refer my dealer to?

I am thinking the information may be disclosed on your customer documents.

I am hopeful that the dealer will resolve the issue once that see the law.

Many thanks.

 

You can simply google Florida extended service contracts (warranties) being regulated… — there will be many things about it including below:

“In Florida, extended warranties are considered insurance and are NOT discountable and everyone pays the same price, for the same product.”

I think what’s happening here though is NOT a Florida dealer trying to charge a different amount for the SAME coverage. They simply just CANT. It’s impossible.— what is happening is some are looking for CPO extensions purchased at the time of vehicle sale while under factory warranty to be the same price as buying a DIFFERENT warranty AFTER vehicle sale…. The ones bought after the fact (even if still within factory) do cost the ~11800 number.


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I tried locating the information on Google to no avail.

I did locate the fact that these warranties are regulated by the insurance agency but wasn’t able to find the $5,995 maximum fee law.

Another point is that my Ferrari profile shows a factory approved 2 year extension starting at the end of my initial factory warranty.

From a customer perspective, I am not clear on the last point you were making regarding my $12,800 being correct after all. Are you now thinking that I am not eligible for the Florida regulated maximum rate?

Also, to your last point and as part of disclosure, wouldn’t both policies be offered to the customer and the price differences discussed.

All of the wisdom you shared has been very informative and is GREATLY appreciated!

Thank You.

 

I must be confused… I bought my 2019 488 used in December 2019 at Lauderdale and got the extended 2yrs at the time I bought the car Dec 2019 for after my factory 3yrs ran out.

My cars extended 2yrs runs out this October and I was thinking of keeping the car and getting another 2yr Ferrari warranty on it. I checked with these 2 dealers and I’d need to purchase the next 2yrs by October. I was quoted $11,800 plus inspection fee somewhere in the upper 800 range….. basically around $12,600….

 

“I did locate the fact that these warranties are regulated by the insurance agency but wasn’t able to find the $5,995 maximum fee law.”

JSwan- THIS is not a law— the PRICE is never a law. The only law is that all ‘warranties’ are the same price for the same coverage by the same provider for everyone. With the millions of warranty providers and millions of possible terms and coverages by so many makes and models with varying current mileages and ages, it would be impossible to publish the prices for each so ya, I’m certain that you couldn’t find the price of the Ferrari first 2 yr CPO extension.

But $5995 happens to be the regulated price for the first 2 yrs extension for Ferrari 8 cyl CPO extension when buying a Ferrari approved, in warranty car from a Ferrari dealer. (The only question that remains in this is that 2for1 special type thing which I’m still unclear about)

Mdrums- you are speaking of the SECOND extension. You said you already bought the +2 back in 2019– was it $5995? Check you paperwork? Sounds like your car’s in service date is December of 2018- so the factory ends 12/21- your extension ends 12/23– so yes, the 6th and 7th year extension is more than the $5995– that’s only the price for the first two year extension- the second one is more expensive (understandably) and apparently that 11.8 number.


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You have been very helpful and I realky hate trying to resolve MY issue via text.

I did purchase a 2022 Ferrari F8 CPO certified in March. I also bought, like you, the 2 year factory extended warreanty. All of cthis is correctly represented in my Ferrari profile.

My own issue is ensuring that I paid the correct Florida price for the 2 year factory warranty extension. In this journey you have been more than helpful and educational.

FOR THE RECORD; I DO NOT have any intention of casting disbursions on my dealer or anyone whatsoever.

I have attached my Ferrari profile to ensure that I have the correct coverage.

Thanks again.



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Why don’t you call another dealer and ask them what the price should be? A simple phone call should ease your mind. There are a number of Florida dealers that you could call. Not to downplay this at all, as we all like to make sure we are charged the correct amount, but your are talking about about 1.5% of the car. Since you spent the money 3 months ago, if it were me I’d go enjoy the car.

 

Hey thanks... yes you're correct....we are in the same page.... good discussion. I totally understand now.

 

Mate you do realise you are not comparing apples ????? IT CLEARLY states Power 15 . This is NOT the full factory warrantee.

Again I ask what was given to you when you bought this second hand car ?

In the business ? You dont have any idea what they truly bought the car for do you.

BTW its so easy to understand which extension you have recieved as to just ask ARE THE TURBOS COVERED.
Answer yes thats full factory.
Answer no and you have power 15.
I have seen many dealers offer Power 15 for 2 years for the price of one as an incentive to buy the second hand car , why not its just creative accounting.

 

Dont be. IMO its not full factory , rather its the power 15. Also chances are IF it is full factory they just BS to sign the deal. Reallocated the profit.

 

You are 100% correct.

IMO the thread is going around in circles. Full Factory warrantee is what you are posting.

I have never heard of any dealer offering 2 years full factory warrantee for the price of one with ANY new car buyer.

IF they have offered it , it will most likely be a second hand buy as an incentive to purchase. But most likely 2 years of Power warrantee which we all know the Turbos are NOT covered.

BTW 6,7 years is dearer than 4,5 years by 20% full factory warrantee.

BTW over here they never quote the inspection fee , they claim its for free but we all know its added to the price.