[yxc145]

Hi Guys

I just picked up my M550 yesterday and for the first time, I bought the tire & wheel protection plan. I have owned 12 cars before and never once I bought the plan. Now I am having 2nd thought. 1. because I plan on getting all season tires from a 3rd party shop, which they offer 3 year protection plan for only $25/tire.
2. I originally thought the dealer/BMW protection plan will cover any cosmetic damage to the wheels, but not the case. No curb rash, no cosmetic. Only structural damage.
So, taking away those 2 things above, the plan is only good for when I hit something big and dented/broke the wheel.
Is it really worth $1900?
Also, do I have a grace period that I can think about and cancel the plan?

[SteveinArizona]

It is like every insurance issue. How big is your risk quotient? If the unexpected happened, and you had banked the $1900 for "just in case" could you cover another couple of thousand if you had to (unlikely as damage would likely only come to one wheel). I just picked up my 530e with 664 wheels and 19" tires (Pirelli) and I passed on the wheel insurance.

[yxc145]

Originally Posted by SteveinArizona

It is like every insurance issue. How big is your risk quotient? If the unexpected happened, and you had banked the $1900 for "just in case" could you cover another couple of thousand if you had to (unlikely as damage would likely only come to one wheel). I just picked up my 530e with 664 wheels and 19" tires (Pirelli) and I passed on the wheel insurance.

I think with the 20" factory wheels, if I crack one, I will make at least 1/2 my money back. In the past, I have gotten cheaper replica wheels and they only cost around $400 a piece. My reasoning was, I could buy 4 new wheels with this plan. How many times will actually crack those wheels? In the past 15 years. 3 times.

[jettie1767]

Originally Posted by yxc145

Hi Guys

I just picked up my M550 yesterday and for the first time, I bought the tire & wheel protection plan. I have owned 12 cars before and never once I bought the plan. Now I am having 2nd thought. 1. because I plan on getting all season tires from a 3rd party shop, which they offer 3 year protection plan for only $25/tire.
2. I originally thought the dealer/BMW protection plan will cover any cosmetic damage to the wheels, but not the case. No curb rash, no cosmetic. Only structural damage.
So, taking away those 2 things above, the plan is only good for when I hit something big and dented/broke the wheel.
Is it really worth $1900?
Also, do I have a grace period that I can think about and cancel the plan?

I have what they call a 3-in-1 protection plan which covers me for tire replacement and wheels repair/replacement, windshield repair and paintless dent repair. I paid $1900 for 5 years. I'm allowed 3 wheel repairs for the duration of the contract. Unlimited tire replacements when damaged, unlimited windshield repair and paintless dent repair.

[r33_RGSport]

I always opted out on those.
Because for that price, I can get another set or two of beater wheels that will last or don't care about.
It is insurance afterall, you better read those small prints carefully. There always be a catch benefiting the insurance company.

[Jagu]

It's not worth it. You will need at least 3 wheel replacements just to break even. I'd rather self-insure the wheels and buy the cheap tire certificates from discount tires.

[Mr.blue]

Originally Posted by yxc145

Hi Guys

I just picked up my M550 yesterday and for the first time, I bought the tire & wheel protection plan. I have owned 12 cars before and never once I bought the plan. Now I am having 2nd thought. 1. because I plan on getting all season tires from a 3rd party shop, which they offer 3 year protection plan for only $25/tire.
2. I originally thought the dealer/BMW protection plan will cover any cosmetic damage to the wheels, but not the case. No curb rash, no cosmetic. Only structural damage.
So, taking away those 2 things above, the plan is only good for when I hit something big and dented/broke the wheel.
Is it really worth $1900?
Also, do I have a grace period that I can think about and cancel the plan?

I was having second thoughts as well for the first few weeks. I usually pass on any extras the dealer has tried to sell me in the past but I have the 20" tire and wheel combo and I noticed how thin the tires are. The first thing I thought about was hitting a pot hole at anytime and kicking myself for not getting the plan, especially if it happens in the first 1 to 6 months. I usually go aftermarket after the first year but maybe not this time. Also got the paint less dent repair because a day before going to pick up my new M550 I stopped at Walmart for a quick minute, parking at the end of the parking lot where no cars or carts were. On the way out I noticed three carts were left on the curb near my car. Before I could get near it the wind picked up and one of the carts rolled right into my drivers door leaving a dent in the sheet metal. First dent ever! You never know when you're going to run into useless, lazy people who can't return their carts!

[bimmer_335]

Originally Posted by Mr.blue

I was having second thoughts as well for the first few weeks. I usually pass on any extras the dealer has tried to sell me in the past but I have the 20" tire and wheel combo and I noticed how thin the tires are. The first thing I thought about was hitting a pot hole at anytime and kicking myself for not getting the plan, especially if it happens in the first 1 to 6 months. I usually go aftermarket after the first year but maybe not this time. Also got the paint less dent repair because a day before going to pick up my new M550 I stopped at Walmart for a quick minute, parking at the end of the parking lot where no cars or carts were. On the way out I noticed three carts were left on the curb near my car. Before I could get near it the wind picked up and one of the carts rolled right into my drivers door leaving a dent in the sheet metal. First dent ever! You never know when you're going to run into useless, lazy people who can't return their carts!

sorry for your loss... but who goes to walmart in M550

[Mr.blue]

Originally Posted by bimmer_335

sorry for your loss... but who goes to walmart in M550

Lol! I was there to visit someone and it was my 535i before trading it in but, point taken.

[yxc145]

I think I am going to cancel it. I got the tire protection plan with the shop that I got the all-seasons from. I can't imagine breaking 3 wheels in 3 years.
Worst case, I will just get a aftermarket replica that cost much less.
Thank you guys for all your suggestions.

[yxc145]

I am surprised to not find any 20" M668 style for sale online. No replica or people going aftermarket?

[Jagu]

Originally Posted by yxc145

I think I am going to cancel it. I got the tire protection plan with the shop that I got the all-seasons from. I can't imagine breaking 3 wheels in 3 years.
Worst case, I will just get a aftermarket replica that cost much less.
Thank you guys for all your suggestions.

Please cancel it.

[yxc145]

Originally Posted by Jagu

Please cancel it.

YES SIR!!

[vpatel867]

I got suckered into by the finance manager. I was able to cancel mine right away with Easy Care and getting that check takes forever.

[yxc145]

I was told by the finance manager at the dealer that the check will just go to BMW financial services since they are the one that provided the auto loan. No check for me.

[Jagu]

Originally Posted by yxc145

I was told by the finance manager at the dealer that the check will just go to BMW financial services since they are the one that provided the auto loan. No check for me.

Yes but since it was financed into your loan/lease it will now reduce your payoff, so make sure that they give you credit for it.

[yxc145]

Originally Posted by Jagu

Yes but since it was financed into your loan/lease it will now reduce your payoff, so make sure that they give you credit for it.

I told the finance manager two days ago to send me the paper work for cancellation. Still no email. I will be picking up my car this Saturday at the dealer. Will make sure it gets done. By the way, since I got my car on 12/21. I have only driven it two times, total of 90 miles. I has been at the dealer since 12/27 for some minor repair. I hope I don't see 200 miles on the odometer when I pick it up.

[Mr.blue]

Originally Posted by vpatel867

I got suckered into by the finance manager. I was able to cancel mine right away with Easy Care and getting that check takes forever.

I'm guessing you have only 30 days to cancel the insurance, correct?

[Alpine Missile]

Originally Posted by yxc145

Hi Guys

I just picked up my M550 yesterday and for the first time, I bought the tire & wheel protection plan. I have owned 12 cars before and never once I bought the plan. Now I am having 2nd thought. 1. because I plan on getting all season tires from a 3rd party shop, which they offer 3 year protection plan for only $25/tire.
2. I originally thought the dealer/BMW protection plan will cover any cosmetic damage to the wheels, but not the case. No curb rash, no cosmetic. Only structural damage.
So, taking away those 2 things above, the plan is only good for when I hit something big and dented/broke the wheel.
Is it really worth $1900?
Also, do I have a grace period that I can think about and cancel the plan?

Get a refund asap! Think about it, if you really had major damage to a wheel(s) or tires, your insurance policy would cover it. Why pay someone $1900 for a speculated future event? Don't get me wrong, the wheels are expensive, but those road hazard policies are usually crap... and... when you do finally make a claim, there are dozens of exclusions anyway. Just my two cents.

[yxc145]

Originally Posted by Alpine Missile

Get a refund asap! Think about it, if you really had major damage to a wheel(s) or tires, your insurance policy would cover it. Why pay someone $1900 for a speculated future event? Don't get me wrong, the wheels are expensive, but those road hazard policies are usually crap... and... when you do finally make a claim, there are dozens of exclusions anyway. Just my two cents.

thank you. that's what everyone else said, too.
I have sent a cancellation request.