Power Warranty Pricing Update 2024 | FerrariChat

Power Warranty Pricing Update 2024

Discussion in 'Ferrari Discussion (not model specific)' started by SAFE4NOW, May 23, 2024.

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  1. SAFE4NOW

    SAFE4NOW F1 Veteran
    Sponsor Owner

    Aug 25, 2004
    5,818
    Dallas Texas
    Full Name:
    If you know you know
    As of 5/1/2024 the following information is correct for Ferrari North America.
    Pricing, options, etc are always subject to change.

    Warranty Extensions 4th / 5th / 6th / 7th year , Power 15, MainPower15, as well as SP1/SP2/SP3 Power products require in person inspections of the chassis. Services must be current.
    Aftermarket add ons may affect the approval process.
    Total Loss, Stolen Vehicles, and other unique situations may keep a chassis from passing the inspection process.


    "Extended Coverage Plus”
    Please note that for the models listed below, it is possible to extend this coverage to the 6th and 7th year under the same conditions as the 4th and 5th year. With this option, an owner has the possibility of having total coverage equal to the duration of the regular maintenance of the 7-years Genuine Maintenance Program!

    488 all versions
    812 Superfast
    Ferrari Portofino
    812 GTS
    Ferrari Roma
    SF90 Stradale
    Ferrari Portofino M
    SF90 Spider
    F8 Tributo
    F8 Spider
    SF90
    SF90 Spider
    296 GTB
    296 GTS
    Purosangue

    Models not explicitly indicated above do not have the option to apply 6th/7th extension option, such as the GTC4 Lusso and GTC4 Lusso T


    V8
    $11,900 Extended Coverage Plus 2 years
    $7,600 Extended Coverage Plus 1 year
    $5,400 Power 15*
    $5,800 Main Power 15**

    v12
    $16,000 Extended Coverage Plus 2 years
    $10,500 Extended Coverage Plus 1 year
    $6,900 Power 15*
    $7,400 Main Power 15**

    SF90
    $16,000 Extended Coverage Plus 2 years
    $10,500 Extended Coverage Plus 1 year

    296
    $11,900 Extended Coverage Plus 2 years
    $7,600 Extended Coverage Plus 1 year


    ------------------------------------------------------------------------------------------------------------------

    Extended Coverage Plus = Same coverage as under the initial 3 year factory warranty

    Power 15 = Used to be called New Power Warranty, new name, same coverages + a few more items

    Main Power 15 = Used to be called Main Power Warranty, new name , same coverage as Power 15 but it includes the NEXT annual service.

    Ferrari SpA sets pricing and while there is profit, it's not absorbent, and while negotiable, I wouldn't expect any dealership to do it. ( $250.00 off for active FCA or FC Members in good standing would be a great offer if presented )

    ---------------------------------------------------------------------------------------------------------------------

    Renewal Discounts

    * 15% discount for renewal and an additional 15% if there are no claims during the previous coverage period, this second discount is only applicable if the first condition is valid, it is not applicable for previous "Approved" type coverages

    ** 10% discount for uninterrupted renewal, the end date of the previous coverage must coincide with the start date of the new coverage, not applicable for previous "Approved" type coverages

    -----------------------------------------------------------------------------------------------------------------------

    Deadlines for activation

    Please remember that “Extended Coverage Plus” subscription can be activated throughout the entire coverage period of the New Car Limited Warranty and up to 60 days after its expiration.

    The coverage must always be continuous, therefore, during activation after the expiration of the previous coverage, the new Extended Coverage Plus start date must coincide with the expiration date of the previous one.

    "Power15 and MainPower15" Products

    This product is currently NOT available for hybrid vehicles, as listed:
    SF90 Stradale
    SF90 Spider
    296 GTB
    296 GTS
    SF90xx
    SF90xx Spider

    and also, on limited edition models:
    LaFerrari
    LaFerrari Aperta
    Monza SP1/SP2
    Daytona SP3

    -----------------------------------------------------------------------------------------------------------------------------

    For what is and is not a covered item for any of the above options, please speak with your dealer, that way there are no assumptions or misunderstandings.

    I am certainly happy to help, where I may.

    Steve
     
  2. GrigioGuy

    GrigioGuy Splenda Daddy
    Lifetime Rossa Owner

    Nov 26, 2001
    32,812
    E ' ' '/ F
    Full Name:
    Merritt Tockkrazy
    So to be clear:

    The 15% + 15% is NOT available on the Main Power 15 (which includes the service), but only the 10%?
     
  3. SAFE4NOW

    SAFE4NOW F1 Veteran
    Sponsor Owner

    Aug 25, 2004
    5,818
    Dallas Texas
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    If you know you know
    Correct, only 10% off now.

    S
     
  4. scottevestceo

    scottevestceo Karting

    Apr 16, 2023
    171
    Full Name:
    Scott Jordan
    Steve, thanks so much for posting this. I really appreciate it. I just got my Capristo muffler installed after getting my warranty extended in Denver. I have ~44k miles on my Lusso now, and will likely be over 55k by next April, so won't be able to extend further as I understand the Power 15 is available for 15 years or 55k, whichever comes first, so I will be self insuring starting next year. The only thing that concerns me is the PTU, but after 43k miles and no issues, I'm starting to think I may not have an issue after all.

    Thanks again for all you do for the Ferrari community.
     
    SAFE4NOW likes this.
  5. dgoldenz94

    dgoldenz94 Formula Junior

    Apr 13, 2020
    647
    Las Vegas
    Full Name:
    David Gold
    Warranty not being available on hybrid cars is going to absolutely crush their value when out of warranty. Seems like a dumb decision, they can easily price the risk at a higher cost. The fact that they don’t is pretty telling.
     
    bamaman likes this.
  6. greyboxer

    greyboxer F1 World Champ

    Dec 8, 2004
    12,649
    South East
    Full Name:
    Jimmie
    But none of those cars are old enough to need the later warranties.....the existing extensions already price in extra risk and by the time the others are needed i have no doubt the figures will become available based on previous claims

    Sent from my moto g54 5G using FerrariChat.com mobile app
     
    SAFE4NOW likes this.
  7. 05F430F1

    05F430F1 F1 Rookie
    BANNED

    Oct 22, 2005
    3,600
    Fort Lauderdale, Florida
    Full Name:
    Todd
    This is one of the many reasons I’ve cryptically mentioned how the 296 will be less $ to buy than an F8 soon and SF90 will continue to fall and there will be a lot available in the next year or two and how the F8/488/458 will be the most desired V8’s and go up in value and everything produced before them will retain value as well.


    Sent from my iPhone using FerrariChat
     
  8. SAFE4NOW

    SAFE4NOW F1 Veteran
    Sponsor Owner

    Aug 25, 2004
    5,818
    Dallas Texas
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    If you know you know
    Thank you for your kind words, I am sure you will fully enjoy every mile you drive sir!

    As greyboxer noted, warranty options will more than likely come available, as they did with the La Ferrari ( though the 7th year none the less )

    I am betting on the same thing personally, will update as information comes available.

    Steve
     
  9. scottevestceo

    scottevestceo Karting

    Apr 16, 2023
    171
    Full Name:
    Scott Jordan
    @SAFE4NOW can you confirm if the renewal discounts were in play in March of 24? I got my warranty extended then, but no discounts applied for continuous coverage and renewal. When did these discounts come into play. I have a separate question that I will DM you if ok. Thanks for all you help on these things. I really appreciate it. Scott
     
    SAFE4NOW likes this.
  10. SAFE4NOW

    SAFE4NOW F1 Veteran
    Sponsor Owner

    Aug 25, 2004
    5,818
    Dallas Texas
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    If you know you know
    Scott,

    Power Warranty discounts have applied for many years. However, What is often overlooked is that discounts only apply when the same policy is renewed.

    For example, If a chassis had warranty extension and then power 15 , there is no discount.

    If a chassis had power 15 and renewed another year of power 15 there would be a discount. If there were no claims in the previous year, there would be an additional discount.

    Steve
     
  11. Scott98

    Scott98 F1 Rookie
    Owner Silver Subscribed

    Nov 3, 2004
    2,910
    Weston, FL
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    Scott
    Which warranty would I need to cover turbos, leaky cam cover gaskets and transmission shifting fork failures on a 488?
     
    SAFE4NOW likes this.
  12. SAFE4NOW

    SAFE4NOW F1 Veteran
    Sponsor Owner

    Aug 25, 2004
    5,818
    Dallas Texas
    Full Name:
    If you know you know
    Scott ,

    Warranty Extension covers all your listed items.

    Power16 has turbo coverage as well as internal DCT components. Head gaskets would be covered, however I do not think cam cover gaskets are.

    ***Outside influence may affect the above answers.

    Steve
     
    Scott98 likes this.
  13. scottevestceo

    scottevestceo Karting

    Apr 16, 2023
    171
    Full Name:
    Scott Jordan
    Steve,
    Basically, I got my Power15 renewed last March 24 for another year. I didn't get any discounts, although based upon the information provided above (and reprinted below), it seems that I should have gotten a uninterrupted renewal (10%) and renewal discount (15%), but since I had a claim, I would not get the 15% discount for no claims, if I am reading this right. So, the real question then is when were these renewal discounts first implemented (May 1, 2024?) and were any similar discounts in place prior to that date? Seems like I JUST missed date by a couple of weeks for what would have been a 25% discount. Bumming.

    Renewal Discounts

    * 15% discount for renewal and an additional 15% if there are no claims during the previous coverage period, this second discount is only applicable if the first condition is valid, it is not applicable for previous "Approved" type coverages

    ** 10% discount for uninterrupted renewal, the end date of the previous coverage must coincide with the start date of the new coverage, not applicable for previous "Approved" type coverages
     
  14. scottevestceo

    scottevestceo Karting

    Apr 16, 2023
    171
    Full Name:
    Scott Jordan
    PS: Does continuous and renewal coverage apply to the car and/or the owner? When I bought the car, I insisted the seller get the Power15, then I renewed, so it has been continuous coverage for the car, but not sure if applies since my ownership was just one year and one Power15 payment. So many facets to this warranty. I'm thinking of doing a comprehensive video explaining what I have learned.
     
  15. SAFE4NOW

    SAFE4NOW F1 Veteran
    Sponsor Owner

    Aug 25, 2004
    5,818
    Dallas Texas
    Full Name:
    If you know you know
    The chassis needs to have continued coverage, to my best knowledge the actual owner is not considered.

    S
     
  16. Ouds83

    Ouds83 Karting

    Mar 14, 2020
    72
    Chicago
    sorry to revive an old topic.
    For the 296, is the $11,900 Extended Coverage Plus 2 years a bumper to bumper warranty?
    thanks
     
  17. x z8

    x z8 Formula 3

    Nov 22, 2009
    1,111
    Florida
    Full Name:
    Jeffrey
    I paid $6800 for a two year bumper to pumper warranty for the 296. Same warranty coverage as the original warranty.
     
    Ouds83 likes this.
  18. greyboxer

    greyboxer F1 World Champ

    Dec 8, 2004
    12,649
    South East
    Full Name:
    Jimmie
    Ouds83 likes this.

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