With your top down, you steadily drive along the Pacific coast line and begin to approach your destination. Powered by one of the world's finest sports cars, you feel all of the strength of a V12 engine underneath the pedal and bask in the fine luxury of a well-appointed leather interior. When the car comes to a smooth stop and you slowly look back, it's important to consider how well protected your super car actually is. Given your vast investment in the vehicle, insuring its condition with a top quality comprehensive warranty is of utmost importance. Whether you are contemplating an upgrade to a new or pre-owned exotic car, or want to better evaluate your options as an exotic car owner, we provide an important guide to helping you navigate luxury warranty options.
Elements of a Luxury Warranty Plan
Many upscale vehicles come with a factory exotic vehicle warranty that can be transferred to a new owner. It's important to determine the extent and application of the coverage in advance of buying a new super car. Whether you're considering a pre-owned Ferrari or want to invest in a new BMW, the warranty options should be at the center of your decision making process. Maintaining a super car with a properly structured coverage policy is much more affordable and makes the total costs of ownership quite reasonable. Keep in mind that you'll always want a comprehensive insurance policy for collisions as well as 3rd party coverage as well, since warranties only cover basic repairs to a vehicle.
At the base of any upscale warranty plan are limitations in mileage, behavioral exclusions (for example, many plans don't cover accidents as a result of speeding), territory restrictions (the ability to drive your car anywhere) as well as varying contract coverage lengths. Look for a warranty that gives you the freedom to drive you vehicle where and when you need it - getting reliable repairs on a timely basis from your warranty requires that a certified service provider is located in your area. For exotic cars such as Maybachs, dealerships are relatively rare, which may require you to ship your vehicle out of state in order to get certified coverage.
The structure of the plans vary from manufacturer and often include deductibles (out of pocket expenses) based upon the type of repair. When evaluating comprehensive repair options, one should consider the extent of coverage as well as the geographical reach of the underwriter. Often times, luxury car warranties are offered by manufacturers in partnership with 3rd party underwriters - make sure you know exactly who "owns" your coverage and how services are rendered when required. If you're shopping for a used luxury vehicle, check to see whether there is time remaining on the warranty and how the policy is structured. Often times, it may be beneficial to buy aftermarket warranty coverage after the manufacturers' policy expires to protect your investment. Always read the fine print carefully so that you get complete coverage and the security that a good plan deserves.
Once you're ready to consider your options for a new or used luxury vehicle, check out our impressive inventory. We'll be able to help you understand your options, including warranty coverage, for the vehicle you want.
No matter what car you decide on there are 3 things you should always do:
1. Get a CarFax
2. Have the car inspected by a qualified mechanic/performance center
3. Go through a reputable dealer
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