How often do you guys get your cars CPO'd when you buy used? Is it worth it? How much do you spend? I was just offered a year for $9000 on an F12 whose warranty runs through the end of the year. Seems like a lot, but it does give some peace of mind. Thanks, David
Are you referring to the extended warranty ? If so, depending on mileage....it's generally not worth it on an F12 - take the engine and tranny warranty for 6k! If it was an FF wud tell you defo take it
Not sure what was included in the warranty. This was the initial, email contact with the dealer. Haven't really spoken to him to get the actual content of the warranty. Is the power warranty $6,000 per year? Ouch! Thanks David
Simple math is "if that bet was in your favor they wouldn't offer it to you". The chance of you encountering a problem (s) that would run you $9k in one year are extremely low... Pretty much unheard of. Warranties are a HUGE profit maker for dealers
It has its original warranty through January 2018. Extending the power train warranty does seem enticing, particularly if I can negotiate into the price I pay for the car. OTOH, your point about whether it's worth it is very well taken. David
Does not cover seals or leaks. Unless it grenades, its going to eventually leak and likely from a worn seal or failed or loose clamp. Doesn't seem worth the $6K to bet that your F12 engine or diff will die in a year especially if you keep miles off it. Much more chance of a leak IMO.
Until today (12'000km) I've only had issue with the seats buttons and a minor brake issue which I've not mentioned on here.....yet.....otherwise I agree with you, I don't see myself having CHF/EUR12K of issues over the next 2 years..... I'd be very interested to hear from someone that has taken the extended warranty and needed it.....
I was invited to a Ferrari Brainstorming with management some while ago and suggested an optional 3 year extension to the UK 4 year warranty taking the warranty period to 7 years to match the servicing. The idea was to reduce the cost of the extra 3 years by 30% and add it to the new purchase price as just another option. Reasons I gave were they would impact favourably on residuals, enhance the desirability of used examples, keep the maintenance pure and 'in-house' and represent positive income for Ferrari with little influence on overall purchase price. Nothing offered to date apart from the option to renew annually up to and including year 12. My view on that is at £4500 plus per annum x 8 years with no doubt a degree of index linking you would have a kitty of 40k or so were nothing to happen which is more likely than 40ks worth of problems being covered by the strictly adhered to warranted items.
I have a two year extended warranty on my F12b which I imposed to the seller as a condition for purchasing the car. As far as I know it costed 9000 and concerning issues with the car so far so good because the F12b has behaved impeccably. Previously with a California from 2010 I owned, I've had a transmission issue due to the failure of the gear-box main shat speed sensor. The DCT was removed from the car, opened and repaired twice and I couldn't use it for 3 months. The repair was done free of charge by the Ferrari dealer under the extended warranty I had and at the end of this saga the bill amounted to more than 10.000 . Since that episode for me the extended warranty is something compulsory and a kind of life insurance.
Grazie Mario, so in-line with my idea of just taking the "power" warranty (engine and transmission).....but also in-line with my thoughts that I don't see myself with 14K of issues with F12B....
Dealer told me that anything that goes wrong with the engine will be covered by CPO, Engine, gearbox and differential. If you're saying that engine failures vary and some are not covered by the extended warranty then elaborate or link me to where this is stated, please. Ferrari's website has nothing on special conditions, btw.
Are there still "Power Warranty?" I thought the only available now is "New Power" that covers more than the engine, transmission/drivetrain. It will be nice to have one that covers just that. Hopefully there are not many issues on that out there. Have you heard of any?
I was presented 3 options for extension. I'm told not usually. But who knows. I'm sure the minute I don't extend mine, I'm going to hit all sorts of issues - lol
I'm saying that leaks and seals in the Engine, DCT Gearbox, Power Transmission Unit, Suspension, Cooling System and Bodywork are NOT covered. Extending the bumper-bumper warrantee covers everything as new. Here is the link you requested: http://www.ferrarichat.com/forum/ferrari-discussion-not-model-specific/468126-new-power-warranty.html
Curious how much the bumper-bumper warranty goes for? Still wouldn't buy any of these warranties. Its highly unlikely that you will have something go wrong which costs you $10-15k. Keep the money in your pocket and pay it if/when you actually require a repair.
The way I was told was you can get an extended warranty as long as the factory warranty hasn't expired. So, I'd get it the last month before it expires and the only reason I would get it is because I think it'll help for resale and gives me some sort of piece of mind. You just never know with cars and if your buying used, you have no idea how the previous owner maintained or abused the car. All my Ferrari's have had factory warranty so I haven't had to buy it yet, but I was told a 2 year warranty is better than just buying a 1 year.
Factory extensions vary based on engine size, term and dealer greed/profit. A (2) year V12 factory extension can be $12K-$15K (twice the V8) based on prices seen on this site. The benefit of self insuring is monetary but the problems are discipline and fear. Take a look at the underside of the F12 when its on the lift and the under-tray panels are removed and then remember again how much you paid for the car all in. Agree, it is not likely there will be a serious failure but then again I hear that the black plastic gas funnel in the tool kit goes for $42.
12cyl 2 year warranty extension unsually runs $9,900 , so if they are quoting it to you at $9,000 you are getting a good deal, as that is pretty much cost! As I always say, its health insurance for your Ferrari, you hope you never need it , until you do. As long as the car is still within the factory 3 year warranty, there are only 2 options which would be a warranty extension ( 1 year or 2 year ) $8,700/ $13,200 # 12cyl pricing # FWIW , there is no longer the " powertrain only " option. Once the car is out of the org factory warranty, you can purchase a year to year New Power Warranty, that does have reduced coverage from a warranty extension, but still covers a lot of items! If you are talking about a warranty extension , it would cover the exact same things as the org 3 year factory warranty did, including oil leaks. Failure of components, covered just as if it was a new car! ;-) New Power Warranty will run $ 5,760 per year for 12 cyl , with discounts for year to year renewal ( $375 ) and if you do not have a claim in the previous year another discount ( $375 ) for a total discount of $750.00 ! Not from my experience when it comes to Ferrari..... Honda, yeah.... Ford or Chevy, probably, but when it comes to Ferrari, I'm not sure how they are keeping it going. Since, Honda, Ford, even MB or BMW, usually utilize a 3rd party company for their extended warranty, the coverage is usually lacking in one way or the other. For example they may only pay a portion of the hourly labor rate , the client pays the difference. Or, the client pays for the entire repair and they reconcile sending a check to the client in 30,60,90+ days later. Where-as Ferrari backs their warranty extensions and New Power Warranty, the Dealer works with Ferrari just as they would any warranty claim, making it seamless for the owner. There is some built in value there too , IMO Warranty Extension covers oil seals, leaks, failure of components , just like the org 3 year coverage. New Power Warranty does not. In my experience, its the Ferrari that are not driven as much that develop leaks, those that have been driven somewhat regularly do not. That sounds like a good idea and adds value to not only the Ferrari , but to all current and future owners as well! FWIW, in the US , we have New Power Warranty coverage up until the 15th year now!! V8 Warranty Extension* 1 yr $ 6,300 2 yrs $ 9,900 V12 Warranty Extension* 1 yr $ 8,700 2 yrs $ 13,200 * Only available for the 4th or 5th year of warranty... 6th year to 15th year would be a New Power Warranty at a reduced yearly rate and reduced coverage. IMO , you are correct. You can purchase a warranty extension as long as the car is under the 3 year initial warranty term. You do have to chose to purchase the 1 year or 2 year extension at that time. From that point forward, you would purchase a New Power Warranty on a year to year basis with discounts as noted in my reply above. Something that should be considered, is that even if your Ferrari is out of warranty, and has been for 6 or more years.... you can still purchase a New Power Warranty, you would just have to get an inspection performed at the Dealership , confirming the condition of the car, no pre-existing conditions , and that the car services are current.
I attached a PDF of the New Power Warranty check list that would have to be completed in order to qualify. S Image Unavailable, Please Login
Steve can you clarify: at the top of post 21 you suggest 2 yr F12 warranty extension = USD 9900 but by the bottom it has increased to USD 13200 for apparently the same thing
Please re-read my posts. We are 100% consistent regarding coverage and cost. Refer to the link I posted for New Power coverage. IMO its junk. Anything with fluid in it will leak. Most things that are failing leak first. Seals go bad on everything if you drive it or especially if you don't. Even new cars will have seal issues. Extend the factory or self insure if you have the discipline. Best.
Steve, is everything the same for US, UK, and Continental Europe because what I have offered is slightly different to what you state (ie 3 options) and I also believe that UK cars come with an original 4-year warranty? @scraggy, I think you might have posted something about this....
