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Exotic Car Warranty 101
Owning an exotic, rare vehicle is a dream for many supercar enthusiasts. Dealing with the repair bills and insurance? Not so much. When luxury car owners plan the logistics of protecting their investments (and wallets), purchasing an extended exotic car warranty plan can give unparalleled peace of mind.
What are Extended Exotic Car Warranties?
Extended auto warranty coverage plans for high-end luxury vehicles are what the name implies: an extension of the factory warranty (also known as the manufacturer warranty), which includes the replacement and repair of mechanical parts that eventually break down with repeated use over time, while also covering manufacturer errors.
Exclusions can apply within each plan, so exactly what a specific extended car warranty plan covers can vary. Bumper-to-bumper coverage is a comprehensive plan that covers most parts and is generally considered one of the best types of coverage to get for these high-end vehicles.
Is an Extended Warranty Worth It for Luxury Cars?
The appeal of these specialty warranties is that they can lead to massive savings over time on repair bills since Ferraris, Lamborghinis, Porsches, and other luxury cars are well-known for high repair costs and parts replacement fees. In fact, in many cases, these plans often pay for themselves, even with plans that have high deductibles.
What is Included in an Extended Car Warranty for Luxury Vehicles?
Depending on the specifics of the vehicle protection plan, these plans can include full or partial coverage for work on or replacement of:
- Powertrains
- Brake pads
- Fuel systems
- Drive axles
- Air conditioning systems
- And much more
In addition to coverage on parts, repairs, and replacements, some companies offer additional coverage plans that include services like roadside assistance, towing, trip interruption, and rental car reimbursement.
Who Offers Exotic Car Warranties?
McLarens, Maseratis, Jaguar Land Rovers, and other exotic vehicles are expensive to cover, which is why not every warranty company can extend coverage to these supercars. In the United States, if you are looking for coverage for your luxury car, your options for extended warranties and vehicle service contracts (which function similarly to extended warranties) include:
You can also purchase a warranty through a dealership. For example, Bentley dealerships can offer you plans when you purchase one of their vehicles from them.
Is it Worth Buying a Dealer Warranty?
A dealership warranty plan is a plan that covers your vehicle, offered through the dealership from which you purchased the vehicle. These plans are usually reliable and cover a wide range of repair and replacement costs. After all, who knows the ins and outs of a Mercedes-Benz like an official Mercedes-Benz dealership? That said, purchasing a plan directly from a dealership can sometimes be pricier than purchasing from an insurance or warranty company.
So, is a dealer’s warranty worth it? Depending on the specifics of the plan you get, yes, they can absolutely be worth it… but it’s also always worth it to compare quotes on coverage from third-party companies to see where you can get the best deal.
How Much Does an Extended Warranty Typically Cost for an Exotic Vehicle?
The answer to this question can vary widely depending on a wide range of factors, including:
- Whether the policy is for a used car or a new car
- What the make and model of the vehicle is
- Where the car owner lives
- How comprehensive the coverage is
- How high the deductibles are
- If the car owner purchased the policy through the dealer or a third party
- And much more
All that said, for most luxury car owners in the United States, an extended car warranty on a luxury vehicle can cost several thousand dollars annually, oftentimes between $1,500 to $4,500.
When Exotic Car Warranties Aren’t Worth It, Call We Buy Exotics
Luxury cars are a joy to own, but dealing with repair costs and insurance companies can quickly become overwhelming. If you’re dealing with unexpected costs not covered by your exotic car warranty, want to upgrade to a newer model, or are otherwise looking to sell your luxury car, contact We Buy Exotics. We buy all kinds of exotic vehicles, including Audis, BMWs, Aston Martins, Rolls-Royces, and other exotic luxury cars online. We make the process easy while giving you the best bang for your buck.
