[demoe]

I have now spoke to both my local dealers, tried to get word for Corporate USA, about whether there is going to be a plan for a extended warranty plan similar to the Ferrari Power Plan......both dealers have not heard a thing, and I can't get a return call from Corporate.

I have shopped around and found an aftermarket firm who deals in Exotics and their warranties seem very good. It is a 'bumper to bumper" program with a $200 ded, and covers everything except what is a listed exclusion. They base it as similar to the factory warranty, with exceptions of things like Roofs. The excluded items are common wear and maitanence items such as brakes/clutches.

I spoke to their claims dept and confirmed things like the Hydroolic Pump for the Cambio System is Covered. (i've heard the pump costs $18,000!)

The plan Im looking at is $2425 for 3 years or 36,000 miles beginning after my factory warranty expires.

 

[MVP]

What is the name of the company? I may have some information that you mind find useful if it's the same company I'm thinking of.

 

[demoe]

Kevin

thanks for the reply...

it was with exoticwarranty.com, however they are not licenced to sell in Cal or Florida, so they sent me to a broker, AutoAdvantage out of New York, the Owner is Hal Morris.

any feedback would be great

 

[demoe]

correction...

the owner is Hal Moses, not Morris...

i believe both Exoticwarranty and AutoAdvantage are underwritten by Fidelity Insurance Company

 

[Steeldream]

FM Silicon Valley is telling me they expect something similar to the Power Plan, but not until after the first of the year when the warranties on the 2002s start to hit the end of their term (apparently no one puts enough miles on these to get > 50k).

After all why bother to have a warranty in place til you have cars that need it

 

[mvarat]

I have 42K miles on my 2003

Since I have 42K miles right now on my 2003, I am interested. Let's keep this thread open and I will update when I learn anything more. Thanks for getting this discussion open.

 

[chris7469]

2,400 for three years / 36,000 miles seems like a great deal

I own an 04 CC and its pure enjoyment. I hav713
e no plans on selling it anytime soon. Actually, I would like to keep it forever.

My warranty expires in May of 08. I plan on putting 10- 12,000 miles on it each year and following all the service intervals in the manual.

That being said, I am really curious to hear any horror stories about these cars out of warranty suddenly falling apart. I mean, as long as my car is maintained at the dealer, what are the odds that the hydo pump goes? Has anyone heard of an owner that has had to replace one? Same thing with the transmission?

I was under the impression that the biggest cost to maintain is the clutch every 24 - 30,000 miles?

With 02 being the first production year there could be an additionaly bug or two, but do you think these cars will just start falling apart? If I can get an additional 3 years for 2,400 I will certainly do that first, but I am hoping a well maintained Maserati can stay that way for many years...

All comments are welcome. Thanks. CM

 

[demoe]

Steeldream...

Are you speaking to Vince at SVFM? I cannot tell you how many times I have bugged him on this issue in the past 2 months,....I gave up trying to get any information from him, as I could not get him to return any of my phone calls.

I have a friend who is about to exercise his Google options and he has heard of my troubles with getting any return phone calls or info from SVFM and is looking elsewhere, he was seriously interested in buying a Maserati.

The only person I have found to be responsive at either dealer has been Gino over at San Francisco FM. I asked him about the dealer offered warranty about 2 weeks ago, and he has heard nothing.

 

[Steeldream]

No, Vince is "no longer here". I met him once and he didn't really seem to know much about Maseratis.

The guy I was talking to was Henry the parts manager who's the only person there I've encountered who seems to have a notion of customer service.

I'm 99% sure I'm taking my business to FMSF in Mill Valley after this latest disappointment.

 

[MVP]

Kevin

thanks for the reply...

it was with exoticwarranty.com, however they are not licenced to sell in Cal or Florida, so they sent me to a broker, AutoAdvantage out of New York, the Owner is Hal Morris.

any feedback would be great

I don't think exoticwarranty.com is owned by any of these people unless it was recently sold. It's owned by a fellow named Ben Evans in Sarasota Florida. I don't know the guy personally but I read his life story and it was pretty amazing. He came from nothing and made his first million in his early twenty's in the stock market. He's owned numerous cars from Diablo's, Prowlers to Hummers. His hot spot is still the stock market, the guy is a genious when it comes to analyzing the stock market but he opened up this exoticwarranty thing and got some bad rep on f-chat.

I'm glad I saw this thread. Now I've never directly dealt with them but the owner Ben is on ferrarichat.com . Soon everyone started seeing more and more threads pop up on ferrarichat.com about this company. Everyone who had purchased the service complained everything they tried to replace was not applicable. Or was not covered under warranty or they would reject their claim for whatever reason.

ALL the threads on ferrarichat have been deleted so I can not link you to them. Maybe they cleaned their act up and are no longer having this problem but they had a real bad reputation on ferrarichat at one point. Theya re a sponsor on lambo-power.com so maybe inquire on there.

But the whole thing doesn't make sense to me with the way these cars are. Pay $2,495.00 and replace a $18,000 pump or a $30,000 roof. Right?

But it's your money, take the risk if you want, I wouldn't do it.

Regards,
Kevin

 

[RQ]

I don't know anything good or bad about that guy or company, but the statement:

>>But the whole thing doesn't make sense to me with the way these cars are. Pay $2,495.00 and replace a $18,000 pump or a $30,000 roof. Right? <<

Well, actually that is how insurance works. It's a volume thing. Like pay Allstate 1,000 to replace my 100,000 car.

Even with "the way these cars are" one wonders what % of pumps or roofs actually get trashed within a certain age or mileage.

The real concerns, of course, are whether a) they will be around when you need them and b) will they play games and refuse claims.

 

[MVP]

I don't know anything good or bad about that guy or company, but the statement:

>>But the whole thing doesn't make sense to me with the way these cars are. Pay $2,495.00 and replace a $18,000 pump or a $30,000 roof. Right? <<

Well, actually that is how insurance works. It's a volume thing. Like pay Allstate 1,000 to replace my 100,000 car.

Even with "the way these cars are" one wonders what % of pumps or roofs actually get trashed within a certain age or mileage.

The real concerns, of course, are whether a) they will be around when you need them and b) will they play games and refuse claims.

Right I understand insurance and your explanation but here's my take on it. Maybe I'm mistaken.

An insurance company charges the independent depending on their record, area they live in, and their risk. The chances of you getting into an extent are very small. And if you're a lifetime customer that $100,000 will pay itself off especially whenever they raise rates.

On a pre-owned Maserati you are almost guranteed to have problems. And whenever problems come they will cost more than $2,495.00. The insurance company is taking a small risk with you, the percentage rate is int he single percentile. Whereas warrantying a Maserati is 50/50 if not more.

It's not just the roof or pump, it's the hundreds of parts that can go break at anytime and outweigh the cost of the warranty especially with ridiculous factory prices.

I'm just saying if somebody came up to me with a business plan like that, I would laugh at them, it's a hell of a risk and you'll have to warranty ALOT of cars to see profit.

Regards,
Kevin

 

[demoe]

Kevin

i don't think the owner is the same person.

If you do a google search about exoticwarranty.com, you will actually find some favorable articles about the company.

the roof is specifically excluded from their policy, here is what they quote:

POLICY EXCLUSIONS “What is not covered”:
Rust damage, sheet metal, chassis frame, cross member, body rails, body panels, carpet, weather-strips, lenses, sealed beams, light bulbs, tires, trim, convertible or vinyl tops, moldings, bright metal, upholstery, paint, exhaust system, catalytic converter, hinges, brake drums, shock absorbers, batteries, carburetor, correction of air and water leaks, wind noise, odors, squeaks, rattles, contaminated fuel systems, bumpers, body parts, glass, time failed components, clutch, service and maintenance items


You have to ask yourself, what is the alternative?
to be covered for anything 3 years or 36k miles for $2400 to me is a no-brainer, one breakdown will more than cover the cost of plan, as we all know the how much parts cost are.

I am in full agreement, if Maserati USA finally comes out with a Plan, the no-brainer would be to go with them, albeit, I've heard it will be around $2500 for only 1 year of coverage.

I too want to keep this vehicle forever, as I think the Design of the car is "classic" and will never look dated, plus the car is a blast to drive......I am just looking for ways to reduce the risks of keeping the car.

 

[Steeldream]

Kevin,

The other thing to realize is that the company's not just writing warranties on Maseratis. They're spreading the risk over more "reliable" and less costly makes. (If they're smart, they or a subsidiary are also writing Honda Civics and Toyota Camrys).

 

[MVP]

Kevin,

The other thing to realize is that the company's not just writing warranties on Maseratis. They're spreading the risk over more "reliable" and less costly makes. (If they're smart, they or a subsidiary are also writing Honda Civics and Toyota Camrys).

You can buy warranties for Civics and Camry's at a much lower price at other places. Also, they don't advertise towards Civic and Camry customers so most Civic and Camry owners will never hear about them. Unless they have a sister company they use to warranty other cars I don't think a majority or any business of there's at all is done with Civics.
I may be wrong.

Demoe- I did some more research for you, the company you are inquiring about is the exact same one that had problems on ferrarichat.com. The posts have all been deleted now so I don't know if they ended up working something out with the customers or requested moderators delete the thread but I remember reading them as do a few other people on there I inquired to.

I'm not saying they're a bad company. They may be great. All I know is that what I read wasn't from happy customers, so take it as you will. On a sidenote Ben is active on Lambo-power.com as a sponsor.

And just to clarify I am not bashing them at all.