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Ferrari CPO and Power Warranty

Discussion in 'Ferrari Discussion (not model specific)' started by MiamiScudLover, Feb 16, 2020.

  1. MiamiScudLover

    Jan 21, 2020
    21
    Miami
    Full Name:
    Chris
    Hello everyone. Quick question. If I’m looking at an 09 car and it’s considered CPO does that mean it should come with a power warranty or is that extra for purchase? I’ve seen some cars where it says included and others do not. Just a bit confused also on what CPO means. Does it mean the car should come with items like the sticky buttons fixed? Thanks!!!


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  3. gilly6993

    gilly6993 Formula 3

    Aug 20, 2009
    2,127
    Longmeadow, MA
    Full Name:
    Eric
    It’s a confusing program. Technically speaking it’s a solid inspection, detail, and 12 months coverage....12 months of what exactly is the question. The info from Ferrari is not super specific.

    https://preowned.ferrari.com/us/approved


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  4. RyanFoH

    RyanFoH Formula Junior
    Sponsor

    Jan 30, 2010
    817
    Houston, Texas
    Full Name:
    Ryan Dohogne
    #3 RyanFoH, Feb 18, 2020
    Last edited: Feb 18, 2020
    I saw this article this morning and saw it relevant to this thread:

    https://www.thedrive.com/reviews/32256/ferrari-extended-warranty

    Full disclosure, I am with Ferrari of Houston / Ferrari of The Woodlands and we are traditionally in the Top 3-5 of Ferrari retailers in total volume of Ferrari Approved units sold and % of units sold as Ferrari Approved.

    I agree with the prior 2 posters regarding the vagueness and confusion of the program. The language of the program allows for broad interpretation by the dealer network of "reconditioning" and the actual warranty application of a car marketed as "CPO".

    I see dealer listings describing preowned Ferrari's as "Ferrari Approved Pre-Inspection", "Ferrari Approved Qualified", etc. The actual warranty itself is then negotiated as part of a car deal (which may or not be completely legal depending on the state).

    If you have recently shopped a pre-owned 458 or F12 (cars at the age of needing higher attention of reconditioning) in person, one will find varying degrees of a dealer's adoption of the Ferrari Approved program.

    I've attached a PDF of a brochure that I created for my store, but some of the coverage information applies to any Ferrari Approved car regardless of the dealership you ultimately choose.

    Overall, the program and coverage (24 months) is outstanding. Due to the lack of uniformity of the reconditioning process, I would advise any consumer to complete their due diligence. Not all pre-owned Ferraris are equal.
     

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  5. MiamiScudLover

    Jan 21, 2020
    21
    Miami
    Full Name:
    Chris
    Thank you very much. The car in question is an 09 scud. What I don't understand is that its considered CPO but the front bumper is cracked, the headlights have terrible hazing, there are numerous stickies including a fully melted reverse button, the car was last serviced 20 months ago (oil, etc.) and the tires are 5-6 years old. Should these not be items that a CPO car would have corrected?

    Last question. The dealer offered me a 1 year power warranty for $3700. I am curious is that a standard thing that comes with the CPO car or is it always cost extra?

    THanks again!
     
  6. RyanFoH

    RyanFoH Formula Junior
    Sponsor

    Jan 30, 2010
    817
    Houston, Texas
    Full Name:
    Ryan Dohogne

    Ahhh .. let me tread lightly, so without speaking about your specific car / dealer in question I'll just phrase things this way if it helps:

    The only way for a pre-owned Ferrari to be retailed as Ferrari Approved is for all services to be up to date. Tires 5-6 years old do not qualify as Ferrari Approved, regardless of tread depth (I just replaced tires on a 2015 458 with only 1300 miles in order to make it Ferrari Approved). When reporting the sale of the car, the paperwork is submitted and audited by FNA.
    Ferrari Approved will mean 24 months of warranty (for a 2009, this means I will have to add the NewPower15 12 month warranty twice in the reporting system with FNA).
    Ferrari Approved cars at my store are 100% cosmetically reconditioned prior to being listed for sale (In my opinion cosmetics fall under the spirit of Ferrari Approved)
    Ferrari Approved means the warranty is included in the pricing -- it is not a line item to be negotiated

    I am not trying to be the patron saint of Ferrari Approved or speak negatively on one dealer... I just prefer my process related to retailing Ferrari Approved. It has been very successful for me and the staff. I'm confident in the risk associated with spending money upfront to make money retailing Ferrari Approved. A large portion of our inventory is purchased sight unseen and shipped out of town. Any issues are a very rare exception.

    I actually don't mind the vagueness of the program. Exploiting the short cuts of other retailers is the easiest way to gain market share in the most profitable segment of a dealership operation. And at the same time feel great about being a caretakers of the brand.
     
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  8. MiamiScudLover

    Jan 21, 2020
    21
    Miami
    Full Name:
    Chris
    Great great info. I really appreciate it. If you have a scud in the future let me know!


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