Certified Pre-Owned Million Dollar Cars?
In a move that may have a larger than anticipated effect on the collector car market, Bugatti announced a Certified Pre-Owned sales program. Usually the term “Certified Pre-Owned” applies to used cars, but we haven’t seen it apply to a used supercar until now.
Potential buyers of a Chiron though the new Bugatti Certified Pre-Owned program will receive a one-year warranty that Bugatti says is as comprehensive as the car’s original warranty. The warranty will cover mechanical, electrical, corrosion and paintwork on the Chiron. All parts and labor will be covered, provided any warranty-covered work is performed by an authorized Bugatti Partner.
The warranty offered with a Certified Pre-Owned Veyron will cover all mechanical and electrical components and includes the cost of parts and labor. While not as thorough as the Chiron’s warranty, it will be applicable worldwide, regardless of where it was purchased – provided it is purchased from an authorized Bugatti Partner.
The warranty on both models requires usage of authorized Bugatti Service Partners to ensure the highest level of maintenance and repair work that Bugatti states, “cannot be replicated elsewhere.” If a part is replaced under the warranty coverage it will include a separate two-year warranty to cover both replacement and labor.
Bugatti also includes an inclusive annual service within the first year of ownership that will be performed at an authorized Bugatti Service Partner.
Here’s where it gets interesting, at least to us: Bugattis have been strong performers in the collector car market and tend to hold their values, if not go up in value. But with the introduction of the Certified Pre-Owned program we can’t help but wonder what impact this may have on the values of Bugattis sold at auction rather than through an Authorized Bugatti Partner.
Obviously this won’t apply to older models, but it is something to watch in the future regarding auction prices of Veyrons and Chirons. We expect it to have some impact, but at the prices these cars cost most buyers can handle extra maintenance costs if needed. But who doesn’t want a faulty part replaced under warranty?