Ferrari Extends Power Warranty up to the 12th Year

I thought Power Warranty doesn't include transmission.

 

I think the sticky parts are also included, like the F1 panel, buttons etc. How much do you need to pay the dealer? My dealer told me its $4,500 per year. Thinking if its worth it since there are nothing major problems on a scuderia...

 

Why did you think that? I believe even the "lowest" coverage warranty - PowerTrain - covered the "powertrain" (engine and transmission by any definition).

From the linked website above:

NEW POWER : (the fourth year to the twelfth year)

Ferrari Pre-Owned Warranty offered for cars for which the manufacturer's warranty has or about to expire and are four years or older
The warranty can be renewed and so the period of cover can be up to four years
Covers the main areas of the car: engine, transmission, trim and electrics.
2014 Ferrari 458 Italia 0-60 mph time


This seems to be a complete revamp of the old three tier; Power Cube, Power Normal, Power Train warranty types. Now only two, an full OEM bumper-to-bumper extension for years 4 and 5 and then "Power" for years 6-12 (with the above "definition").

And...importantly...no mention of the "only applicable to cars sold to the current buyer by an authorized dealer" limitation that was more-or-less enforced before...

Finally - typical Clear-as-mud Ferrari! Try adding up the years and making sense of this. Try deciphering when you can get it and who can get it...there are contradictions in the language. Nothing new there.

 

Yes. You have to have an inspection done. Its a few hundred dollars (IIRC $400 range). Again, you can negotiate the costs.

 

Like this from 2012, but probably very similar.
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The biggest innovations along with the extended 12 year period is the repeat business discount and a no claims discount! Worth a combined 30% discount in premium from year 2 onwards!

Renewing an existing Power Warranty policy attracts a 15% discount in the subsequent years.

If no claims have been made in the preceding year this also attracts an additional 15% discount.

Power to Ferrari!

 

but they are obviously making money out of it, hence the extension of years

 

While I have an actual NEW Power Warranty book , which lists/defines coverage, the actual word " TRIM " does not appear anywhere that I see.

" Body Work " does, which is sub-defined as Retractable Hard Top roof function only. Wear,bodywork, paint, seals,and water infiltration not covered.

The link you supplied is from an offical dealer website, where their web person may have chosen the wrong wording.

I would strongly suggest reading the actual contract and having coverage in writing before purchase and assuming coverage.

NEW POWER warranty does cover Mechanical gearbox, F1 gearbox, DCT gearbox, power transmission units

I'm not finding anything that states that sticky trim is actually covered. I do have a call in to confirm anyways.

This may be true on 3rd party extended warranty products, but Ferrari FNA sets the
price ( and profit ) and I don't know of many who will adjust pricing. With that being said, I am one of the only ones offering to split the "profit" with you and give a $250.00 discount to FCA or FC members... < wink >

The more cars I keep under warranty, the better chance I keep you as a client, where the long term relationship proves to be most important! Meanwhile FNA pays the bill.

You are correct, FNA is replacing the tiered program and offering the NEW POWER warranty as a catch all with longer term options.

I like the point that we can sell to any Ferrari owner that Ferrari meets the requirements for coverage too!

As for who gets what, I have to be very careful everytime we quote a contract, as it is VERY confusing, even to me at times... I have a " help" book though..

FNA requires a inspection list be completed, including, but not limited to all services up to date, so price varies, in that you may have to spend some money to get your car up to spec.

^^^^ THIS !

S

By making money you mean that the longer we keep a Ferrari owner in house, the less likely they are to go elsewhere for repairs, yes. Yes we are making money.
( smiling in a respectful way )

With Ferrari warranty covering a repair, it's a win-win for clients and the Service department alike!

S

 

FWIW , I am more than willing to send out warranty information , books, etc to those that are truely interested in purchasing a warranty.
( I will need your VIN and an address to send information to )

If you are not in the N.Texas area and cannot get your Ferrari to me for the inspection, you WOULD have to get the inspection performed at the Dealership nearest you.

THEN, either I will sell you the warranty ( $250 off ) or you could use my offer to get your dealership to give you the same offer. ( Make me the " bad guy " )

LMK if I may help,

Steve
[email protected]

#### NOTE : My offer is for Ferrari's in the United States / FNA coverage only ####

 

Thanks for the info.
How much is the warranty cost approx for an 05 F430?
My car passed a full PPI and compression test by Continental Autosports a few months ago. They said my car was eligible for Ferrari Power Warranty.

 

I think this is great news for the marketing of the products, especially for non tifosi. I hope it makes big news in the Auto World. To me it shows that the company has a lot of confidence in the products made since the new millennium. They wouldn't offer this to loose money, the engineering AND the manufacturing processes of a modern Ferrari are at a new level of confidence!

 

I always did extend warranty on all my previous Ferrari, except the last year of ownership of my F430.
For my Scuderia I did purchase the New Power Warranty but, keep in mind, that if your car has an issue that can be solved only with labour, no pieces changed, you will have to pay for the entire job.

The warranty covers pieces and labour only if pieces need to be replaced. If your problem can be solved with labour only, for example actuator purge, warranty does not cover costs.

 

I bought my '07 430 Spider as CPO with a one year power train warranty. My warranty expires at the end of September. I just got this notification by email:

"According to our records your Factory warranty is about to expire(9/23/14) on your 430 Spider. Ferrari offers additional coverage under their Power Warranty Program for up to 10 years. Your vehicle qualifies for the New Power agreement .

Your Ferrari is a valuable investment. Keep yourself protected from the unnecessary expense of costly repairs with a Power Warranty."

I asked the service manager and they gave me a price of $4170. Seems excessive for just one additional year. At this point I'm thinking of letting the warranty expire and taking my chances. 430's seem to be pretty reliable.

 

FNA pricing $4500 , your price $4250.00

S

 

While I agree that it's pricey, have you ever quoted an F1 actuator repair? :-8

S

 

For the average driver putting maybe 2K a year on their car, this works out to more than $2./mile. Ouch. You bet Ferrari makes money on it. A lot of money.

Dave

 

I put 2k in 1 month on my car. I use all my cars, otherwise I would have bought a poster.

 

Allow me to offer my opinion and hopefully this is not offensive to anyone in the insurance or warranty business. Insurance and Warranty companies are in business to make money. They provide a very valuable service in spreading risk. How many of us could afford to write a check for a new house if a disaster destroyed our home? However, many people, in my opinion, over insure. If you have good monthly cash flow, as I would assume most Ferrari owners do, and you steadfastly declined extended warranty for everything and increased your deductibles for things like car insurance (so losses you could absorb with your monthly cash flow), you essentially become the insurance/warranty company for these affordable losses. You will definitely find situations where on a specific policy you would have been better off buying the insurance, however, if you take the money you would have spent on extended warranties, and lower deductibles, and put it in an account, and used this money to self insure these affordable losses, unless you are incredibly unlucky, I suspect you will come out well ahead over your life time. Again, this is my opinion as I think there is a lot of profit in these products plus administration cost. I can not prove this but it is what I have generally done. In full disclosure, I did purchase my car CPO and it came with the new power warranty. I will let it lapse. Just a thought.

 

Tom, thank you for your reply.

If we were talking about a Honda, Toyota, maybe Nissan's I would whole heartedly agree with you.

But coming from the side of the desk that see's 50+ Ferrrari's in a month, I can tell you that more times than not, the warranty payout is more than double ( at times triple ) the payout over the cost of the initial contract.

Now, this pertains to 430's , and a few 458's, and most recently a California or two..

These cars ARE better built and have proven to be more reliable that previous generation but the more gadgets you add to a car the more chances of a failure.

To use your own example, those clients that own these cars can for the most part afford to cover the repairs , but why would you not hedge your investment and pay $9900 for 2 years of peace of mind? Or $4500 for 12 months of not having to worry?

Disclaimer: I KNOW I am coming across as a salesperson. Most of you will NOT purchase a warranty, much less from me. I like that we can get perspective from both sides of the desk and all I am trying to offer is what I see from my side.

 

I would love the have another year covered but $4200 is steep. Most guys I know have no warranty on their 430's and all have been good. I'm having an issue with the spider top now that wouldn't have been covered anyway.

I'm torn. If we were talking $2500 it would be a no brainer for me.

 

I have a dealer limited warranty that covers car for I think 60k miles on major items. Dealer sends repair job to FCNA and they decide what is covered if something goes wrong. Is this a power train warranty?

 

This was interesting to me too. After seeing first hand how much it can cost to have an F1 issue fixed this warranty doesn't seem like a bad deal. When buying a used car it would give extra piece of mind to at least get the warranty for your first year of ownership.

It's impossible to properly test drive a used Ferrari. No seller will let you rack up a lot of miles on it during test drives. Buying a CPO inspected car with one year of warranty would be nice. Even if you're not planning on extending it more than a year you could at least drive the car hard for the first year and hope that any upcoming issues happen during that year.


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