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488 Would you extend a ‘17 488?

Discussion in '458 Italia/488/F8' started by AD211, Jul 6, 2020.

  1. AD211

    AD211 Formula Junior
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    Aug 19, 2017
    359
    Columbia, SC
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    Andy Davis
    Having come from an early gen Cali I’ve easily had my arm twisted to buy the New Power Warranty each year. Now, going into this single owner 2100 mi 488, I’m being offered (of course!) to extend the factory warranty for 2 years for $10k from FFL. I’m leaning to a ‘no thanks’ on that. Any feedback would be appreciated.


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  3. 3POINT8

    3POINT8 F1 Rookie

    Jan 23, 2014
    2,592
    i stopped extending. i believe there are several threads on this where a few members ran calculations based on what is paid versus how often they are used. the synopsis was that extended warranties are not worth it
     
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  4. SoCal to az

    SoCal to az F1 World Champ
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    Nov 25, 2012
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    Arizona
  5. FFan5

    FFan5 Formula Junior

    Jul 7, 2018
    341
    I want a warranty for this first year of ownership of any used car. Then I try and stress test the car that first year.

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  6. IloveGT

    IloveGT Formula 3

    Oct 17, 2015
    1,604
    you can get it for 9k.

    no right or wrong answer. It comes down to your personal level of risk taking/aversion and your reserve of fixing something big.
     
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  8. MANDALAY

    MANDALAY F1 Veteran
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    May 23, 2013
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    ANGELO
    This purely IMO I would because these 2 years are a full factory warrantee , everything is covered. Frankly I will do the same next year as mine is a 2018 .

    However these cars should have 7 year warrantees by now. Look at the rest of the markets **** even a Hyundai has 7 years.
     
  9. obbob

    obbob Formula Junior

    Aug 14, 2017
    769
    Would not extend. 458 and later are very reliable cars. Even if things do go wrong, the payout would have to exceed $10K for it to be work it. Even if you had a transmission failure (which is extremely rare), you are still only going to be net -$10K or so.
     
  10. IloveGT

    IloveGT Formula 3

    Oct 17, 2015
    1,604
    for both my 458 and FF, I have both 2 years extended warranty, never got to use it
     
  11. C50

    C50 Formula 3
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    Aug 19, 2016
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    808
    There have been many discussions.
    This poll may help you understand the implications and make the decision that works for you.
    https://www.ferrarichat.com/forum/threads/a-poll-to-decide-if-a-warranty-is-worth-it.588663/
     
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  13. c8spidey

    c8spidey Karting
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    Dec 10, 2018
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  14. BLKBLK

    BLKBLK Rookie

    Dec 13, 2011
    41
    I got an extension my my '18 488. At the time of purchase, the dealer charged me $5000 for 2 additional years and they are transferable to another owner. I thought it was worth an investment especially if I decide to sell my car in near future.
     
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  15. AD211

    AD211 Formula Junior
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    Aug 19, 2017
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    Columbia, SC
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    Andy Davis
    I’ve spoken with 3 service managers at popular F dealerships across the country and they all strongly recommended it and all quoted $10k. “An oil leak resulting in an engine out repair would easily pay for it”. I wouldn’t expect them to not recommend it frankly but sentiment here sounds like it’s a waste. Curious as to the different prices though: $10k, $9k, $5k, not to mention if there are 488 oil leak issues.


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  16. viperf430

    viperf430 Rookie

    Feb 12, 2015
    13
    Orlando FL
    I got one on my 2014 458 for 2 years but it was only around $5,000 $10k seems very high
     
  17. SAFE4NOW

    SAFE4NOW F1 Rookie
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    Aug 25, 2004
    4,061
    Dallas Texas
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    Steve F
    The reason you are getting different prices is because there are two different warranty being discussed....

    Warranty Extension is literally an extension of the original factory warranty. This option may be purchased before the factory warranty expires.

    New Power Warranty is a limited coverage warranty that can be purchased year to year. This may be purchased from the 4th year to 15th year

    V8 Pricing:

    $4.500 One year of New Power Warranty **
    $6,300 4th year Warranty Extension
    $9,900 4th & 5th year Warranty Extension



    ** IF , a Ferrari is purchased through a Ferrari Dealership as CPO, there is a special where the buyer would get 2 years of New Power Warranty for the price of one.



    Hope this helps,


    Steve
     
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  18. SoCal to az

    SoCal to az F1 World Champ
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    Nov 25, 2012
    10,402
    Arizona
    Ferrari sales managers recommending a 10k purchase? You don’t say. Never would have expected that! :)

    Them recommending it should tell you right there that you shouldn’t buy it. Lol
     
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  19. c8spidey

    c8spidey Karting
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    Valuable info.
     
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  20. Mighty Joe

    Mighty Joe Formula 3

    Sep 3, 2010
    1,111
    Atlanta, GA
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    Joe
    Peace of mind is nice to have. But, if you purchased through a dealer than $10K is way high. They usually offer 2 yrs for half that which is worth it imho. By the way...you'll love the 488... It Rocks!
     
  21. RaceMX-M3

    RaceMX-M3 Formula Junior
    Owner

    Dec 15, 2010
    507
    Frisco, TX
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    Scott
    I own a 2016 and opted to purchase the extended two year warranty. I sleep better at night not having to worry about paying for repairs small or large. One year in I have had about $7000 of covered items repaired. Headliner was replaced, persistent check engine light diagnosed and corrected (this one took a couple of weeks of diagnosis). Broken front hood latch is currently being replaced. Maybe these items could have been repaired for less at another shop but personally I prefer only having my local Ferrari dealer touching my car.

    Scott
     
  22. JDINPA

    JDINPA Rookie

    Aug 30, 2017
    23
    Negotiate with the selling dealer to have them throw it into the deal. At least one year anyway.
     
  23. Ruffinit

    Ruffinit Rookie

    Dec 15, 2013
    35
    Chicago
    Full Name:
    Shir
    There was a recent bulletin i was told....they are offering the factory extended 2yrs (not power) for 5k for two years..it was a no brainer for me..covers everything
     
  24. AD211

    AD211 Formula Junior
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    Aug 19, 2017
    359
    Columbia, SC
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    Andy Davis
    Thank you for the replies everyone. I missed the renewal date by a few days to get the 2 yr factory extension for just under 9k. ‘Ruffinit’....if you can get a copy of that bulletin, I’d love to see it. Otherwise, I’m going to roll the dice and forgo the New Power Warranty as well. I did the NPW for 3 years with my ‘10 Cali which probably necessitated it more so than a ‘17 488.


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