Ferrari CPO Program Details?

When I purchased my car as a used car from an authorized dealer 5 years ago the program was brand new. In fact, I was the first, or at most one of the first 2 of the CPO warranties that my dealer had ever done. For a first time owner the CPO warranty helped provide some peace of mind and some assurance that the car had been gone over thoroughly prior to purchase. During the first year there were a couple of minor issues (catalytic converter sensors and a/c ECU) that cropped up and were taken care of under the warranty. In the second and third years there was one minor issue in each year that my dealer submitted for warranty coverage that were initially approved by Ferrari, but then Ferrari reneged. My dealer covered the costs themselves. One of these issues was a failed oil pressure sender, which was replaced for about $150. I opted to not renew the warranty for the 4th and final year my car was eligible because the cost of the warranty had gone up substantially (maybe even exponentially) and the level of coverage had declined. Also, their failure to cover two small issues had undermined my faith in how they would treat a major issue.

Another point to consider is that as your car gets older, the level of coverage available to you declines. These are not blanket "bumper-to-bumper" warranties, and coverage depends on the age of the car. The "Power" level warranty is fairly comprehensive, but the "Power Train" warranty is substantially more limited. Check to see for which coverage your car qualifies. If the car is available with the warranty already in place as a part of the purchase price, then great. But look carefully at the cost and level of coverage when renewal time comes around.

Mike

 

I think its a great idea, but its mainly used to help the authorized F-dealers as only they can give one out for the f-cars that they sell. It's another differentiating factor between an exotic car salesman and a f-car dealer. Now, that being said, you'll have to weigh the difference between the premium that a CPO car is vs another car you buy from another dealer or private sale.

One thing of note that Ferrari does sell extended warranties and certain cars out of warranty can have another extended warranty purchased for it. Power/PowerCube/etc. However I think FNA requires a major service to be done before a car is eligible to get an extended warranty, so their going to get you either way.

 

In order to qualify for the warranty, the car has to undergo a "101 point" inspection and it must be documented that all required services are up to date. Sometimes all of this is already included with the car and factored into the price. Sometimes the dealer will tell you that the car is qualified, and you need to purchase the warranty as an add-on to the selling price. Sometimes you may be told that the car is "eligible" for the warranty, meaning that it falls under the dates of manufacture that are currently covered. But, then after inspection you may be told that it needs XX work to actually be accepted for warranty coverage, so you pay for the work as well as the warranty.

The age of the car determines for which level of coverage the car is eligible. Newer cars, will qualify for the "Power Cube" coverage which is the most comprehensive. Slightly older cars, will be covered under either a "Power 1" or a "Power train" level. Oldest qualifying cars will only be allowed to be under the "power train." coverage, which is the most limited. The dealer can show you the various specifics, and let you know the precise date cut-offs for each one.

Mike