To CPO or not CPO, that is the Question. What is it worth?

I think the CPO is worth what you might value the remaining portion of the power warranty plus "some" inspection.

1) If car is still under manufacturer's or previous warranty, dealer will get Ferrari to pay. Note also there is a big difference between actually CPO'ed and CPO'able vehicles which ads seem to throw around without much consistency/accuracy. I was told that to be CPO'ed, it must have at least 1 year manufacturer's warranty remaining. Note that it might not have that or the extra 1 year power available to you since it could have been sitting on the dealer's lot for 1.5 years.

3) CPO does not equal "no stories" in my book. Examples:
Scud #1. Under CPO. Faded carbon fiber coolant tank not replaced.
Scud #2. Claimed CPO'able in ad, but thankfully salesman was clean. Was Ferrari Driving Experience car AND was a buy-back from Ferrari under lemon law for electrical problems.
Scud #3. Under CPO. Was FDE car. Appeared to have crazed/cracked CF headlights, but dealer insisted it was just clear bra.

So, my opinion is that CPO only means to some basic level of mechanical/performance fitness. Other items may or may not be replaced such as anything cosmetic or considered wear and tear unless bad enough.

 

The short of it is this in my opinion. I know you are asking specifically about CPO but follow these steps in the purchase to make it smooth and enjoyable. Its how I purchased mine


Find car you want
Review records/history
Go see and drive the car//dont buy sight unseen,(whats a day and a plane ticket vs. cost of a Ferrari?) Many buy sight unseen, I would NOT
Negotiate pricing
Get a PPI
Buy warranty for piece of mind. I would not drive a Ferrari without warranty, but thats just me.

I did this for my 08 F430 and I am happy

Good Luck

 

I decided to go with a CPO over no CPO even though there was quite a price difference.....I am also already planning on buying a new warranty a year from now.....the piece of mind of having a warranty is worth it for me.....

 

+1. The peace of mind is worth everything. Coming from a pair of Porsches made me scared at first. All those cars needed were gas and oil and 1 battery. Knock wood the F car has been perfect.

 

Zinger, how much did you pay for the PPI ?

 

I think the CPO is purely for peace of mind motoring, but that can be very valuable if it helps! However, you're probably best off getting a PPI, making sure the services are up-to-date, and putting away the money for the warranty (at least 4k?). The chances of having service costs that the warranty will actually cover in the one year, which probably excludes a lot of expensive repairs like sider tops etc, exceed the 4k is unlikely. Moreover, if you continue it each year, at my 4k and own the car for, say, 4 years, that's 16k dollars for the CPO status. At that point, it's even more unlikely to have 16k in repairs over four years. Just my opinion. As, an aside, it would also be frustrating to pay for the CPO program for one year only to see an expensive repair pop up in year two of ownership.

Also, if you by a car from a certified dealer, they are probably likely to work with you on repair prices if a repair is needed soon after you purchase the car.

Good luck.

 

I Bought it for a year just for peace of mind. Put 4k miles on my car last year with no issues. Did not get it again. My mechanic checked everything three times and said I'm good. Saved about 8k. If my car breaks, I'll fix it.

 

Hah!

 

I saw your scooter damage.... NOT covered under warranty lol

 

As a retired dealer it is another profit center for the dealership. A PPI from a non conflicting dealer is the way to go, a non conflicting PPI is a must IMO.

I can buy F430's all day long that don't pass CPO and for $300 I spend on them (and my time) they will pass their 'very well defined' "array of wide-ranging checks."

Make sure you don't get one that was from a rental car company titled to another name to protect resale value, it happens a lot.

 

Well I have to be honest, $0.

What I did was demand the report from the 101 inspection from the selling dealer and also had reports of brake and clutch wear. The example I purchased only had 3400 miles on the clock. The car also went through a full service fluids change prior to putting on the showroom floor and I read the report on that too. I also viewed the car in person and made my own inspection of the car visually and had a good indication of how the car was cared for, which was great. So technically I did not do a PPI, however, with viewing and driving the car for a long test drive myself, and the information I obtained above, it passed the test for me. Clutch wear, brake wear, visual inspection and many items within the 101 inspection are all items covered in a PPI.

My advice was to get a PPI to the OP. I still think this is very important especially for higher mileage Ferraris and cars where the potential buyers are buying sight unseen.

So if I purchased my car sight unseen I would certainly do a PPI but I sort of did my own in a way, if that makes sense....I am no expert but I learned a lot of valuable information on this forum and felt good about my "investigation stage" of the purchase.

Ultimately it comes down to being aware and educated on what car you are buying......I felt with mine it passed the test and with warranty coverage in place, I think I made a great decision!!

Back to the OP's question regarding CPO, DO IT! In my opinion it makes the car more enjoyable to drive and own. These cars are rock solid but their are forum members from time to time who do run across pricey repairs. When my CPO ends 7/30/12 I will be buying another year of coverage.................

I have put 1200 miles on my car in 6 months and no issues thus far. I know, I need to drive more!!!!! Actually going for a nice Sunday drive today, once i get off this addicting forum

 

CPO? i am lame, the only CPO i know of is a 3-CPO