Buying a warranty with a used 360 ?

Look under "search"---"extended warranties"
This has been discussed in the past.

 

The original 3-year warranty automatically transfers to subsequent owners.

After that, you can get an extended one or two year warranty from Ferrari but it's very expensive.

If I were buying a garage queen, I'd probably be worried enough about sludge, leaks, dried out hoses, corroded radiators, etc., to spring for the insurance.

If the car is driven regularly and is well maintained, I don't think the insurance makes much economic sense.

 

There are several warranties available through Ferrari NA. However, in order for a car to be eligible for one, all applicable services must be up to date and completed by an authorized dealer. And, the car must go through an inspection process by the dealer along with a computer check. The results of this inspection are faxed to FNA for review.

 

Are you sure your not confusing this with a Porsche?
If your purchasing the Ferrari from a dealer you can usually negotiate warranty into the deal at a very fair price or at no extra charge. Personally I'd rather not bet against the odds.

 

"Are you sure your not confusing this with a Porsche? "

Yes, I'm sure! I asked my F dealer about it because I had heard about it and was curious how it worked.


"Personally I'd rather not bet against the odds."

So be it! I bought my 360 new, it's not a garage queen, I drive it regularly, and I keep it well maintained. I don't intend to buy any additional warranty for it. I know Ferrari's engineering and manufacturing is probably not as good as Porsche's but I'm betting it's good enough!

That said, if I had an F1, I would buy the warranty.

 

[I am buying a 2500 mile2000 360 Modena. I think that maybe too new to have all that wrong. Will know soon.
I plan to drive it a lot.
zzzzzzzzzzz

 

2500 miles in 4 years is not very encouraging, in my opinion. I share the feelings of others on the board who would rather buy a car that has been driven more regularly.

Gary

 

If the potential car in question has had all applicable services, updates and has been properly checked throughout by a trained mechanic what would be the rational for not purchasing?

 

Quite simply, I would prefer a car that had been driven more. I believe it is better for long term longevity for machinery to be used regularly rather than sitting. Factor in the money you save buying a similar car with more mileage, and I think the choice is clear, at least for me. I'm not talking about lots of miles, just some indication of regular use, say at least 3000 mi per year.

Just my opinion, certainly others may disagree.

Gary

 

I agree with tdf360 that a low mileage car while perceived as almost new has downside of sitting around for most of its life and unfortunately seals, bearings, and other moving parts can show accelerated wear than a car that has been driven regularly.

I have investigated the extended warranty situation and FoSF's policy (if it is same or different than any other dealer I don't know) will sell you an extended warranty only within 30 days prior or 30 days after the factory warranty expires. They have three different set ups that are called power one to cubed and run about $4000 to $7000 for one year (the price is negotiable) and includes the inspection. Obviously at these rates, it is not worth buying the insurance policy.

I have also investigated independent warranty companies, and I could only find one company backed by Bank One that would write a three year unlimited miles extended warranty for a 360 at $7250 with a $100 deductible for each repair service. This is probably is more reasonable and worth having. They do require an inspection if the car’s outside of factory warranty and of course they do require all scheduled maintenance as prescribed be performed.

Cheers,
Matt

 

"I could only find one company backed by Bank One that would write a three year unlimited miles extended warranty for a 360 at $7250 with a $100 deductible for each repair service."

Make sure you know what the exclusions are. Most likely, stuff like brakes and the clutch won't be covered. So, unless you have a catastrophic engine or transmission failure, you won't be able to collect much.

However, if you're getting an F1, and if they cover the other F1 stuff (ie, other than the clutch), maybe it's a good deal, judging by all the F1 problems people report on this site.

 

Typically speaking I do agree. However, the mentioned car with 2500 miles can still be an excellent example with absolutely nothing wrong. And purchased 'right' can be the better value in the long run.

 

I just posted this same info on another thread regarding extended warranties ..... there are other options available besides Ferrari .....

I shopped around for an extended warranty for my 550 Maranello ....... not many companies offering this .... but did find "www.exoticwarranty.com" who writes multi year, unlimited mileage policies. Was quoted approx. $ 9k for a 4 year policy but they also offer 1, 2 and 3 years policies for less money ..... and it does seem to cover most things ..... Brake system, Suspension, Air Cond., Electrical systems including all modules, electric motors, displays, Engine, Transaxle, Fuel system, Steering system, alternator/starter, etc., Cooling system and Emissions. Even includes timing belts !!! but I'm sure only if they break .... in which case you'd be the second happiest person on earth (behind Walt Disney) having bought this policy. Not quite a Bumper to Bumper ... but if this company is for real ..... not a bad deal if something really bad were to happen. If you plan a lot of miles .... this may be the way to go.

I have yet to decide if it's worth the cost for me ...... I generally do all my own maintenance and repairs and have never set foot in a Ferrari dealsership because if there's one thing I know about Ferrari ..... their dealers treat their best (and only) customers exactly the opposite of how they should..... they nail you every way they can ... Afterall, when it comes down to it ..... it's just a car and a service is a service .... but dealers treat their customers like defense companies treat our government ...... $ 3000 toilets ring any bells?

This is my first Ferrari and I still don't know how bad things can get with broken parts ..... troubles. Would love to hear what others think about extended warranties ... and if I should consider purchasing one myself.

Basically ... I'm giving my 550 three years to provide it's worth ..... Love this car to death .... it's been great car and very reliable so far ..... but if it starts bleeding me ..... this may be my last Ferrari .... if not ... I'll be a Ferrari owner until the day they take my licence away ... which, by the way, may not be too much longer since my 550 just can't seem to stay under 120mph up those those "pesky" on-ramps.... and late nights on empty freeways are even scarier !!!! Yes ... owning a Ferrari makes me feel young and stupid again! But then again ... stupidity is relative .... and IMO spending $ 6,000 - $ 8,000 at the dealership every couple years for relatively simple repairs and services is the "poster child" of stupidity, especially when every other high end car manufacturer charges a fraction for the same services and parts.

 

Certainly reasonable people can disagree on this question. I'm just more comfortable knowing the machinery has been regularly exercised, and 2500 mi in four years doesn't qualify.

Gary