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Ferrari Factory Warranty Changes Buyer BEWARE

Discussion in 'Ferrari Discussion (not model specific)' started by 360nut, Jun 1, 2009.

  1. 360nut

    360nut Rookie

    Aug 4, 2004
    22
    I just picked up my 2005 F430 Coupe the other day from a Ferrari Dealership after I placed a POWER CUBE FACTORY WARRANTY on it and the service manager told me that unless I sold the car PRIVATELY or to a FERRARI DEALERSHIP the factory extension which I just purchased would be VOID. On page 15 of the warranty book it states and I quote "During the term of this agreement, You may transfer this Agreement to a private owner who buys the Covered Vehicle from You. There is no transfer fee or charge. To transfer this Agreement, before selling the Covered Vehicle, you must take the Covered Vehicle to an authorized Ferrari Dealer for inspection. The transfer will not take effect until the Authorized Ferrari Dealer received approval from Ferrari for the transfer. This agreement CANNOT be transferred if the COVERED VEHICLE IS TRADED OR SOLD TO AN INDEPENDENT DEALER OR BROKER, other than an Authorized Ferrari Dealer." This also applies on the EXTRA YEAR warranty placed on all Ferrari Spyder's by the factory since it is beyond the normal 3 year warranty.So if anyone out there has brought a Ferrari from a INDEPENDENT DEALER OF BROKER and your original 3 year factory factory is expired you have NO WARRANTY!
     
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  3. M.James

    M.James F1 Rookie

    Jun 6, 2003
    2,721
    Worcester, MA
    Full Name:
    Michael.C.James
    Makes sense to me.....No independent Broker or Dealer is going to perform Factory Warranty work - EVER. They can't be held responsible for recalls and whatnot.
     
  4. Kds

    Kds F1 World Champ

    Porsche has been doing that for years with their factory backed extended warranty. No big deal.........
     
  5. The Ape

    The Ape Formula 3

    Feb 28, 2007
    1,758
    Los Angeles
    Full Name:
    Ape
    Exactly......It makes sense to me too.
     
  6. 360nut

    360nut Rookie

    Aug 4, 2004
    22
    The point is that you have NO WARRANTY on your Ferrari if you purchased it from a broker or independent dealer after the original 3 year factory warranty period.
     
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  8. tazandjan

    tazandjan Three Time F1 World Champ
    Lifetime Rossa Owner

    Jul 19, 2008
    33,574
    Clarksville, Tennessee
    Full Name:
    Terry H Phillips
    You never have a warranty on any make car after the original warranty period runs out unless the factory extends it or you buy extended coverage. Once you sell it, the warranty coverage is not your problem.

    Taz
    Terry Phillips
     
  9. 360nut

    360nut Rookie

    Aug 4, 2004
    22
    Not true, when you buy a extended warranty it goes with the car, in most cases it is transferable. In Ferrari's case if you buy the car from a broker or independent dealer you do not have that option to extend the warranty.When you buy a new Ferrari Spyder the factory puts the 4th year on, once the original owner sells their car to a broker or independent dealer the 4th year becomes void.
     
  10. M.James

    M.James F1 Rookie

    Jun 6, 2003
    2,721
    Worcester, MA
    Full Name:
    Michael.C.James
    When you buy a 'new' car from a Broker or Indie, NOBODY knows the true condition of the car when you're buying it. You may 'think' you do, the Broker/indie may 'think' they know, but....they don't. Or maybe they do, but aren't telling the buyer for fear of ruining the sale. There are a lot of C_R_A_P used Ferraris on the market today with deferred maintenance. Brokers and Indies can't be really trusted in this regard - the warranty is all about mitigating repair risk, and insuring that a used car is meeting a specific standard with regards to operational health and up-to-date service. Brokers/Indies don't usually have the Factory-trained staff, workshop, or state-of-the-art Factory diagnostics equipment to perform due-diligence on used car inventory. To imply that buying a car from a Broker/Indie is just as 'safe' as buying a car from a Factory Authorized dealership, and thus Warranties should still transfer, is just plain foolish.
     
  11. 360nut

    360nut Rookie

    Aug 4, 2004
    22
    If you have purchased a used Ferrari especially a F430 Spyder from a broker or independent dealer that claims the car has remaining factory warranty left on it, CHECK WITH YOUR FACTORY FERRARI DEALERSHIP you might be surprised what you will be told!
     
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  13. mousecatcher

    mousecatcher Formula 3

    Dec 18, 2007
    2,116
    san mateo, ca
    you said "changes". what is the change? hasn't the power warranty always had this clause?

    i think some of folks here don't get it though. the ferrari extended warranty has much more severe limitations than a typical extended warranty, which are generally both transferable and refundable. it's definitely an ****** move by ferrari to shuffle business to their stores.
     
  14. CornersWell

    CornersWell F1 Rookie

    Nov 24, 2004
    4,650
    +1. That's the way I understood this.

    CW
     
  15. 360nut

    360nut Rookie

    Aug 4, 2004
    22
    I had worked at a Ferrari dealership for many years, and they just changed it. A lot of owners are going to be in for a surprise when they bring their car in for warranty work. Recently a independent dealer brought a Ferrari Spyder in for warranty service and when the Ferrari dealer submitted the claim it was denied because the car had switch owners.That is why I am warning owners.They also wrote a new warranty manual which I quoted from earlier.
     
  16. mousecatcher

    mousecatcher Formula 3

    Dec 18, 2007
    2,116
    san mateo, ca
    I bought a power cube warranty last november, and the clause was in there at that time.
     
  17. SrfCity

    SrfCity F1 Veteran

    Nov 1, 2003
    9,842
    Orange County, CA
    The F control freaks strike again. Why not have it that if someone has purchased a car with a current extended warranty that they need to have the car verified that everything is in working order when they purchase regardless of who they bought it from? What do they charge for the inspection prior to transfer?
     
  18. 360nut

    360nut Rookie

    Aug 4, 2004
    22
    It depends upon if all services are current according to Ferrari North America also the cost to through their 120 point inspection form.
     
  19. mousecatcher

    mousecatcher Formula 3

    Dec 18, 2007
    2,116
    san mateo, ca
    i think my dealer was charging $800.
     
  20. SrfCity

    SrfCity F1 Veteran

    Nov 1, 2003
    9,842
    Orange County, CA
    #17 SrfCity, Jun 1, 2009
    Last edited: Jun 1, 2009
    I think the reality is F are shooting themselves in the foot with this. What's the advantage to having an extended warranty in place if it means added cost to the owner upon transfer? If the dealer comes up with something it's the seller that's going to have to pay for it so why go there? As a seller I'd represent my car accurately and tell the guy he can verify service records with the dealer and then sell the car for X, without warranty. That way I'm not opening myself up for added cost and a possible stick up from the dealer saying you need more costly work. Bottom line for a buyer is it's nice to have the safety net of extended warranty but now there's even less incentive for an owner to buy one. Some F blow back if you will.

    If you just let the dealer handle things upon sale then it doesn't really matter.
     

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