Ferrari has recently launched the New Power15 extended warranty program. The company developed this program in response to the notion that supercars are very expensive to maintain. Truth be told, it’s this impression that has dissuaded many car enthusiasts from taking the plunge into the uber-luxurious car club.
So with the new warranty program, the company’s coverage will include their new and old customers’ mechanical components up to 15 years. These major mechanical components include the engine, gearbox, suspension, power transfer unit, and steering. But the best thing about the New Power 15 is that this privilege can be transferred from the original owner to the new owners of the car, if it is a second-hand model. Furthermore, this applies to pre-owned Ferraris that go through “specific technical checks” and pass the test. So far, this is probably the best deal we’ve heard from any automaker. It’s also the longest warranty you could get from any brand out there.
That is not all. To make it clear, this sits on top of Ferrari’s existing four-year bumper-to-bumper warranty along with the seven-year maintenance-free program that new Ferrari customers get. Moreover, customers can purchase an additional year of full coverage, that can be added to the New Power that only begins on the sixth year. If you plan to keep your Ferrari maintained for more decades, you can extend this warranty yearly.
Customers who can easily purchase a $100,000 car can definitely afford annual maintenance fees. But when it comes to exclusive Italian cars, this is not an insignificant amount. For companies like Ferrari, maintenance costs could be as expensive as a second-hand car that is in great condition, or a brand new compact car. Now, customers still have to pay for the New Power program but being covered can save them a ton of money if in case they immediately need a new engine or gearbox, for almost the same price as a new car. It’s infinitely better to have the warranty as you will likely be able to take advantage of it if you plan to keep the car for quite some time.
Now, Ferrari customers don’t typically take their car out for a drive every single day, keeping the mileage of their vehicles low. So if you think about it, this 15-year extended warranty program functions more as a marketing strategy for the brand. That’s because potential buyers like to feel protected. Moreover, Ferrari is able to enhance its image as a company that truly cares about its customers.