[drjolokia]

Hey Everyone!

I'll be picking up my new M550i next weekend and am considering getting the Lease Protection and Tire and Wheel Protection.

I'm getting a really great deal on the car and want an equally great deal on these items, so I was wondering if anyone would know what I might expect to pay for these?

I'd rather avoid the whole play hardball until I feel like I'm getting a good deal routine

[Jelston]

The dealer had offered me a third party Source called Auto National. I believe i paid 1800. It was the best thing i could have gotten it has already paid for its self..

[drjolokia]

Originally Posted by Jelston

The dealer had offered me a third party Source called Auto National. I believe i paid 1800. It was the best thing i could have gotten it has already paid for its self..

Was this for Tires?

[Jelston]

Tires and wheels, so far they have replaced several tires because of bulges as a result of pot holes also the repair of rims, and even replaced the rims as a result of being unrepairable. They also will cover appearances curd rashes. No questions ask and it can be used anywhere. The salesman advised the warranty. So glad I got it. Ohio roads can be terrible on 20in runflats.

[Jelston]

Rim placement I ment. Of coarse these were all different times.

[drjolokia]

Originally Posted by Jelston

Tires and wheels, so far they have replaced several tires because of bulges as a result of pot holes also the repair of rims, and even replaced the rims as a result of being unrepairable. They also will cover appearances curd rashes. No questions ask and it can be used anywhere. The salesman advised the warranty. So glad I got it. Ohio roads can be terrible on 20in runflats.

Over the past 3 years in my X5 I've had to replace only 2 tires, and haven't had any rim damage but I feel like the wheels on the M550i might be more susceptible to damage.

There are some pretty bad roads here in the Bay Area too.

[AlteBMW]

If you live in an area where the roads get numerous potholes or are otherwise poorly maintained, wheel and tire insurance is the way to go. On cosmetic damage (curb rash) my policy cover 4 repairs (over 3 years), but that means 4 wheel repairs, not 4 repair instances. I just had all 4 wheels redone while at the dealer for other service. In the past (luckily not during this round) I have had wheels repaired or replaced. I think it also depends on how many miles you expect to put on, and how frequently you think you will drive on bad roads. I am retired now so my driving is way down due to no commuting - about 7,500 per year -- and for my next car, I might chose to self-insure.

[Pappy Pipes]

If you utilize Parking Assistant Plus and Surround View, properly, you'll avoid curb rash. PA+ is far more useful and fun, and cheaper insurance against exterior mishaps, than the insurance packages finance guys foist on lessees. Sure, you can get a ding or blow a tire. But paying as you go makes more economic sense than paying upfront, through the nose. That's my 2 cents so I didn't get any insurance.

[bigdaveindubai]

For the tires if you don’t want to get the bmw coverage you can go to discount tire and buy the road hazard warranty they offer. Yes they will warranty them even though they aren’t purchased through them. They are a stand up company and will never give you a hard time.

[Pierre Louis]

I'm very averse to buying extended warranties etc. but would buy a tire/wheel protection package for an M550i for all the above reasons.

PL

[aus]

I think the main advantage to the tire package is at the end of the lease. You don't have to worry about buying new tires... and runflats are $$$

[drjolokia]

I opted out of the tire and wheel protection and went for the lease protection.

I've only replaced 1 tire and have had zero curb rash in the past 3 years, but had to replace them at lease turn in.

[spectrumphoto]

My Dealership does not offer 3rd party protection plans, only the BMW ones. At about $4600 for the Tire/Rim Package I passed....
Then went to America's Tire Co (Discount Tire) and purchased their tire Certs for $160 total. It will only cover tire damage but its better than nothing.

[Jelston]

Hey That's better then nothing. Congratulations on getting that new car. You are going to love it

[drjolokia]

Originally Posted by Jelston

Hey That's better then nothing. Congratulations on getting that new car. You are going to love it

Thanks! 👍🏻

[hlothery]

I passed on extended warranty, which was outrageously expensive, IMO. I did get a wheel policy privately, 5 years for about $1K. I love the overhead camera view, and use it each time I park, but you never know, and those 668M's are expensive!

[mjr24]

Lease protection is a scam......

Same (so I thought) with the tire/wheel packages as I've never bent a rim or hurt a tire in many many BMW's (and we have bad roads here). Of course, now I have a bulge in both front tires.....maybe the run flats are garbage?

[Warp Ten]

I see that the OP went for lease protection but not tire and wheel. But I am a bit confused. What exactly is "lease protection"? I sold BMWs and MINIs for seven years in my early retirement years and we of course got a little extra commission for each buyer that picked up the tire and wheel or other options sold by the finance managers. But I have never heard about "lease protection". Perhaps it is just a different term for what we call Gap coverage? Gap coverage makes up any cash difference if your car is totaled and the insurance doesn't pay out enough to cover what is still owed on the lease. In the state of Illinois Gap coverage is automatically in every lease per Illinois law. I don't believe it is required by law in California. In illinois dealership finance managers still can sell Gap coverage on loan financing, but not lease financings, as it is already included in the lease (but, surprise surprise, some have been known to anyway).

As to tire and wheel coverage, I always told customers that it depends on how they feel about insurance type products, and whether they can, or would be willing to, pay for new tires and maybe wheels if there were a problem, like with our infamous potholes. For example, I have home and auto insurance because I can't afford to replace them by myself. A similar argument can be made for Tire and Wheel. Also, it depends on how likely it is that you might damage a tire or wheel. My wife had it and replaced two tires and one wheel, so it was a good deal. I had it and never filed a claim, so not so good. I also had a lady client who told me where a street was being repaved and manholes were sticking up she ruined two tires and two wheels, about $1,500. I asked if she had gotten the tire and wheel coverage and she said her husband had said it was too expensive (about $800 at the time). So you never know. I don't know what the dealers charge now, but I do remember that the "remit" (the amount the dealer pays for the plan) was about 50% of the price they charged clients. Good margins, and good commissions for the finance managers. My primary bit of advice on Tire and Wheel (and extended warranties if you like them) is to get what BMW offers. There are just too many problems with trying to collect from the third party companies. (For example if you don't call the company before getting a tire fixed they deny the claim). I know our dealership dropped all third party plans as soon as BMW started offering their own Tire and Wheel plan. -Bob

[drjolokia]

Originally Posted by Warp Ten

I see that the OP went for lease protection but not tire and wheel. But I am a bit confused. What exactly is "lease protection"? I sold BMWs and MINIs for seven years in my early retirement years and we of course got a little extra commission for each buyer that picked up the tire and wheel or other options sold by the finance managers. But I have never heard about "lease protection". Perhaps it is just a different term for what we call Gap coverage? Gap coverage makes up any cash difference if your car is totaled and the insurance doesn't pay out enough to cover what is still owed on the lease. In the state of Illinois Gap coverage is automatically in every lease per Illinois law. I don't believe it is required by law in California. In illinois dealership finance managers still can sell Gap coverage on loan financing, but not lease financings, as it is already included in the lease (but, surprise surprise, some have been known to anyway).

As to tire and wheel coverage, I always told customers that it depends on how they feel about insurance type products, and whether they can, or would be willing to, pay for new tires and maybe wheels if there were a problem, like with our infamous potholes. For example, I have home and auto insurance because I can't afford to replace them by myself. A similar argument can be made for Tire and Wheel. Also, it depends on how likely it is that you might damage a tire or wheel. My wife had it and replaced two tires and one wheel, so it was a good deal. I had it and never filed a claim, so not so good. I also had a lady client who told me where a street was being repaved and manholes were sticking up she ruined two tires and two wheels, about $1,500. I asked if she had gotten the tire and wheel coverage and she said her husband had said it was too expensive (about $800 at the time). So you never know. I don't know what the dealers charge now, but I do remember that the "remit" (the amount the dealer pays for the plan) was about 50% of the price they charged clients. Good margins, and good commissions for the finance managers. My primary bit of advice on Tire and Wheel (and extended warranties if you like them) is to get what BMW offers. There are just too many problems with trying to collect from the third party companies. (For example if you don't call the company before getting a tire fixed they deny the claim). I know our dealership dropped all third party plans as soon as BMW started offering their own Tire and Wheel plan. -Bob

Lease protection pays for any damage you would have to pay for at lease turn in.

On my X5 I just returned, I had to pay for new Tires ($1200) and a new windshield ($600) for a total of $1800. Lease protection was $1500.

[Warp Ten]

Originally Posted by drjolokia

Lease protection pays for any damage you would have to pay for at lease turn in.

On my X5 I just returned, I had to pay for new Tires ($1200) and a new windshield ($600) for a total of $1800. Lease protection was $1500.

Thanks--that is different from Gap protection. I don't remember if our finance guys sold such a product but probably. If there was a penny to be made on a product, they sold it! In our market I also don't recall seeing many cars come in on lease turn ins with significant needs, although the tires did have to be above the wear bars and if they weren't you were stuck, just as if you had owned the car.--Bob

[530iDriver]

I got the BMW tire and wheel protection. My car was bought not leased. Payed about $900 and change for the plan.

[saporitj]

Picked up my new car today. Turned down the tire and wheel protection but got the extended warranty. Couldn't see paying for tire protection but the wheel protection is another story. Unfortunately the extended warranty was $4k and the wheel protection was just too much on top of that. Bought the car but now I have BMW bumper to bumper warranty for 10 years or 100k miles. 😍😍 No more repair cost. My old Benz was driving me broke but I had it 18 years. Bought new