Ferrari has set a new standard for automotive warranty cover with the offer of a 12 year series of extended warranty initiatives.
The new Ferrari 12 year warranty package is made up of two programmes. The first is an extension of the standard four-year Ferrari GB warranty for an extra year, providing full manufacturer warranty cover.
“Everything is included here,” a spokesman told us.
The second element, for years 6-12, is a ‘New Power Warranty’ scheme. This is a development of the original Ferrari ‘Power Warranty’ and extends coverage from a maximum of 10 years up to 12 years.
Claimed to be the most flexible and “the most complete” of its kind, the New Power Warranty can be renewed annually and can also be purchased on cars that haven’t previously been covered by an extended Ferrari warranty. All they need to do is pass an inspection at an Official Ferrari Assistance Centre beforehand.
It is a full factory-backed warranty, said the Ferrari spokesman, covering “most things” – and unlike some other aftermarket warranties, there is no claim limit. “The maximum value that can be claimed is equal to the maximum value of the car”. And Ferraris are not low-value cars…
Ferrari 12 year warranty scheme – costs
One key point to note: after year four, it isn’t free. No other brand may offer a 12 year warranty, but Ferrari only does if, beyond the fourth year, you pay for it.
Annual costs depend on the car but, anecdotally, we understand it’s about £2,000 a year (although Ferrari does offer both a 15% renewal incentive and an additional 15% ‘no claims discount’ if no warranty work was carried out in the previous year).
For many, though, it will be a default choice, for two reasons: one, the potential cost of repairs on a car as exotic as a Ferrari…
… and two, the fact that Ferrari is still offering its astonishing seven-year free servicing deal. Buy any new Ferrari and all servicing and maintenance costs will be covered for a full seven years – no matter what your annual mileage. Potentially offsetting the cost of the New Power Warranty for three years at least…