When you're spending more than a half a million dollars on a car you want peace of mind.

That's why Ferrari is now offering up to 15 years of warranty coverage on its prancing horses. The scheme, called New Power 15, allows owners of both new and approved pre-owned models to extend the standard three-year warranty all the way until the car's 15th year of life. 

But it works in stages. Firstly the owner has to prolong the standard warranty to five years. Then the warranty can be continued to cover the car from year six to 12. From the 12th to 15th year the warranty can be extended on an annual basis.

However, the final years, 12 to 15, doesn't cover the full car but does include the key components - engine, gearbox, suspension and steering.

Ferrari hasn't released prices of the various extended warranty components.

All new Ferrari models continue to come with seven years worth of servicing included in the purchase price.

• For more information, visit our Ferrari showroom.