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California T 2015+ purchase: dealer CPO or private party?

Discussion in 'California/Portofino/Roma' started by California4Ever, Feb 21, 2021.

  1. California4Ever

    Feb 16, 2021
    20
    Full Name:
    San s
    Newbie here looking for first time purchase in the next 6 months. So so many questions! Thanks in advance for all your help.
     
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  3. tomc

    tomc Two Time F1 World Champ

    Apr 13, 2014
    22,555
    DFW, Texas
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    Tom C
    If it were me, I would and did pay the premium for a CPO'd car from an authorized dealer. For my wife and I, it was peace of mind. Still, I would do all the necessary due diligence on the car, condition, etc. Good luck...T
     
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  4. Natkingcolebasket69

    Natkingcolebasket69 F1 Veteran
    Rossa Subscribed

    +1


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  5. vjd3

    vjd3 Formula 3
    Rossa Subscribed Owner

    Jun 3, 2005
    2,132
    Massachusetts
    Full Name:
    Vic
    If the car is not already under the Ferrari New Power warranty, I would lean toward a CPO car from the dealer. You'll pay more, but ... if the car is covered under the factory warranty with the current owner, however, I would consider that (after having it inspected, of course).
     
  6. Quietriot

    Quietriot Karting
    Silver Subscribed

    Oct 28, 2018
    81
    Houston, Texas
    Full Name:
    A.R.
    Wondering what the “so many” questions are.....
     
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  8. California4Ever

    Feb 16, 2021
    20
    Full Name:
    San s
    @Quietriot probably FAQs but questions around maintenance, insurance, appropriate mileage/year etc.
     
  9. Raj seth

    Raj seth Karting
    Silver Subscribed

    Sep 24, 2020
    88
    Boston
    Full Name:
    Raj seth
    Watch the roof go up and down - think about that breaking on a 6 year old ferrari. For me powertrain warranty was key to my enjoyment. Most importantly will make it easier to sell as the warranty moves with the car...


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  10. California4Ever

    Feb 16, 2021
    20
    Full Name:
    San s
    Thanks all. I am pretty convinced I’ll go with CPO and pay for the extended New Power15 warranty once original one expires.
     
  11. JohnInItaly

    JohnInItaly Karting

    Feb 5, 2019
    70
    Santa Cruz, California
    Full Name:
    John McCoy
    I bought a 2010 California in October 2019 with only 1,800 miles on it from the big and wonderful dealer in North Carolina. The roof went up and down just fine fresh out of storage in the showroom, but the seals in the roof pump had already failed and slowly lost all fluid on the transport truck to California, and the roof never worked again. Cost to replace the pump was over $15,000.00 on the repair bill at my local dealer, but I paid NOTHING, because Foreign Cars Italia included the 2 year CPO warranty for free. Bottom line, buy a car car with a CPO warranty (more inclusive than drive train only) or buy a car that IS USED REGULARLY, and all of the bugs have been worked out. Pick a car with enough recent miles to know that it works, but still with life left before a rebuild. Roof hydraulic pump is 15 grand, but I heard a story that a complete carbon fiber brake system is 38 thousand, so everything is relative.
     
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  13. luvair

    luvair Formula 3
    Rossa Subscribed Owner

    Jun 4, 2005
    1,077
    Is the CPO warranty, the same as the Ferrari Power train warranty. The one you can pay about 6K a year?
     
  14. JohnInItaly

    JohnInItaly Karting

    Feb 5, 2019
    70
    Santa Cruz, California
    Full Name:
    John McCoy
    Ferrari Power Train Warranty covers the "powertrain" engine and transmission. CPO "Certified Pre Owned" is just like a brand new car warranty, for squeeks and rattles, the aforementioned $15,000+ convertible top hydraulic pump, and everything else except consumables like tires, brakes, and battery. To maintain a high trade in value at dealerships, the factory allows one two year policy to be sold. I bought a like new 2010 car to drive it, and we are doing just that. If something else is going to fail, then I want it to happen during my two year period. At 23 months, I will take it in for new tires, routine servicing, adjustment of the trunk and gas door latches that sometimes do not open right away, and the comprehensive $500-ish check to have it approved for the Ferrari Power Train Warranty that I believe also last two years. Chief concerns long term are the gearbox and engine management systems (hopefully covered). I have the booklet and will read it eventually, or you can check on line. To recap, CPO is virtually all inclusive and is a one time, two year deal, only on a pre-owned car sold to you directly from any Ferrari dealer, although maybe that transfers to a new owner for the balance remaining, if the second owner couldn't keep the car for two years (check on line). Foreign Cars Italia in North Carolina included the CPO for no additional charge, and Ferrari Silicon Valley in California honors the contract as if they had sold it themselves. After those first two years, Ferrari Power Train Warranty is the best that you can have for each two year period. It has been my experience that cars that sit have many more problems than those that are driven regularly, so keep that in mind when searching for a used Ferrari.
     
  15. vjd3

    vjd3 Formula 3
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    Jun 3, 2005
    2,132
    Massachusetts
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    Vic
    #12 vjd3, Mar 14, 2021
    Last edited: Mar 14, 2021
    This is incorrect, actually. For a Ferrari, CPO is a car for sale at a Ferrari dealer that is eligible for the New Power warranty, which is a limited warranty covering major components, excluding fluid leaks. Dealers will often include one or two years of New Power coverage with the car, or you can negotiate for it, or pay for it. If the car is still under the original 3 year new car warranty, you may extend that full warranty for either one or two years. That is full coverage, like the new car warranty — leaks, rattles, etc. Once the new car warranty has expired, you can only buy the New Power warranty from a dealer, and they will charge you to inspect the car first.

    New Power is nice to have but there are plenty of expensive items it does not cover — the radio, headlights, seat motors, etc. But it would cover the transmission and convertible top mechanism. But it does specifically exclude fluid leaks, so read it carefully.

    The warranty transfers with the car on a private party sale, or if the car is sold by a Ferrari dealer. I believe it costs about $4500 annually, and there is a discount to renew if there have been no claims the previous year. Steve at Boardwalk Ferrari in Dallas is a great resource for these questions — he is SAFE4NOW on here.
     
  16. JohnInItaly

    JohnInItaly Karting

    Feb 5, 2019
    70
    Santa Cruz, California
    Full Name:
    John McCoy
    No, you are wrong. Read again and learn. In November 2019, I bought a 2010 Ferrari California from a Ferrari dealer and it came Certfied Pre Owned and that was writen on the sales invoice. When the roof pump failed due to a hydraulic fluid leak, a non-power train item, I took my car to another Ferrari dealer of my choice 3000 miles away and it was fixed at absolutely no cost to me, including a test drive on a rough road to search for a rattle. The Service Manager here in California told me drive it a lot while it has the CPO warranty and bring it back in before the two years expires. I will pay for the certification to be eligible to buy the Power Train Warranty when my CPO expires. Before you claim that I was given something special, this was my first Ferrari purchase from a dealer and the CPO feature was advertised with the car, and I am not some famous person. It does appear that prices of any of the secondary service plans are not fixed by Ferrari and may differ from one dealership to another.
     
  17. vjd3

    vjd3 Formula 3
    Rossa Subscribed Owner

    Jun 3, 2005
    2,132
    Massachusetts
    Full Name:
    Vic
    Maybe you need to re-read what I wrote, John. The New Power warranty, which is what you have, covers the roof assembly. It does not cover the entire car the way a new car warranty does. The definition of CPO is different for Ferrari than other manufacturers -- it means the car is certified to be eligible for the warranty. It does not automatically come with the car, but dealers will often price the car with the warranty included. In recent years Ferrari offered an incentive to dealers to put two years of coverage on their preowned inventory for the price of one year, so many of the used cars bought at dealerships came with a two year New Power warranty. My California T came with that warranty when I bought it 20 months ago. It is expiring in July and I will likely renew it. Ferrari sets the warranty prices. It is more for a 12-cylinder car than it is for an 8-cylinder car. A dealer may discount it, but few of them offer much of a discount. Now there is even less incentive for them to discount the warranty because my understanding is in order to purchase or renew the warranty the car must be present at the dealership in question.

    Yes, if they worked on the roof to replace the pump I'm sure they would check to see if it rattled when it was put back together. But it is the New Power warranty you have -- just as I have on my 2015 car -- and it is not the same as the warranty when the car is new. The only way you can get that new car warranty extended is if the original 3 year warranty on the car has not expired, in your case, that would have been during 2015 or early 2016, and it could only be extended for a maximum of 2 years. I know this because I extended it on my 2013 California in 2016.

    If you come up with a leaking Magneride shock, the little round jewel LEDs in your headlight fall out of their housings as they are prone to do, or if your TFT or navigation screen goes blank, it's not going to be covered. The dealer may assist you with some goodwill.

    I assure you, this is what the warranty covers on your car:

    Engine: crankcase and all internal components thereof, cylinder heads and valvetrain, oil radiators, head gaskets, oil sump and oil pump, variable valve timing adjusters, solenoid valve (oil seals and oil leaks not covered), ionising ECU.

    Ignition/Injection systems: Oxygen sensors, secondary air system (secondary air system pump and valves only).

    Mechanical gearbox/F1 gearbox: gearbox casing and differential housings, including all internal components.

    F1 Power Unit: electric pump, valves; actuator, ECU, selected and engaged gear sensor (oil seals and oil leaks not covered).

    DCT gearbox: gearbox and all internal components, ECU (oil seals and oil leaks not covered).

    Power Transmission Unit: ECU; clutch (rubber boots excluded).

    PTU: all internal components (oil seals and oil leaks not covered).

    Suspension and steering: complete steering box, suspension arm joints, power steering pump (excluding drive belt), toe-in tie-rods, ECU for controls on steering wheel (oil seals and oil leaks not covered).

    Cooling system: water pumps, fans (leaks not covered).

    Air conditioning/heating: AC system control devices, AC compressor and climate control ECU.

    Electrical system: alternator, starter motor, ignition coil, engine ECU, transmission ECU, crankshaft sensor, camshaft sensor, power window motors.

    Fuel and induction system: injectors, throttle bodies, air flow sensor, intake manifold, pressure regulator, temperature sensors, fuel pipes, fuel pumps.

    Brake system: hydraulic brake pump, brake pressure regulator and servo.

    Bodywork: RHT roof function (wear, bodywork and paint defects, seals and water infiltration not covered).

    Labor relative to the removal/installation and replacement of the aforementioned components.
     

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