chiefguy

Hi. Curious what others are paying he dealer for the tire and wheel insurance for 5 years and gap insurance? Plan on purchasing vs leading. Thanks I think he selling price I got is fair. 56200 in msrp of 59600

mcfancy

I just got an gfsportt and they tried to sell me the tire insurance. I'd strongly recommend against it. The odds are so much not in the customers favor and there's so many caveasts in small type after you read the small print details. Skiop it. If anynbting invest in the clear film protection for the Hood/bumper

PCW

I turned down the tire and wheel insurance on my 2016 RX that I leased at the end of March with the Luxury Package and 20 inch wheels. Last weekend I accidentally backed into a curb/sewer that destroyed my Michelin Premier LTX tire and damaged the wheel. The cost to replace the tire and repair the wheel (thankfully it was repairable) was $522 total. You can see how the sidewall was cut open and how the wheel was cut into from the picture. The wheel repair guy did a fabulous job as you can see where the Service Mgr is pointing in the after repair picture. But this was all on me to cover. These new tires and wheels are expensive and I wish I had taken out the coverage. But Lexus will only let you purchase it before you take possession of your vehicle according to my dealer.

kitlz

Ouch PCW. Glad the repair went well. Everyone living in the tristate area knows how bad the roads are, especially after winter. Plus there's other hazards. I picked up three screws in one year. Only one needed patching but still, I went with the tire and wheel insurance since I have the F-Sport rims. The cost was $900.

FLYCT

Those warranties are huge profit for the dealer. Generally speaking if you can afford the loss the cost of insurance is not worth it.

My dealership offered Tire & wheel protection plan including paintless dent repair & windshield scratch support for $900. I declined the coverage. Shortly after picking up our 2015 RX450. The dealer removed the ding via paintless dent repair at a cost or $75.

I have owned over 50 new cars. I never had a wheel replaced or repaired outside of warranty. Only once did I have a wheel repaired and it was a Corvette when where the clear coat was peeling. Chevy fixed it for free.

Now if I still lived in pot hole NY I might think differently. But even when I lived there I never experienced tire/wheel damage out of pocket expenses that exceeded the premium for the coverage. Edmund's states: These plans may get some traction with consumers, especially in those parts of the country where potholes are a constant threat.

I recently bought a 2016 Ford F150 and the original price included an already applied "Paint protection application" (aka wax?) and insurance for $695. After negotiating they dropped the price to $125 which they claimed was their cost to apply the product and purchase the warranty, I didn't buy from that dealer.

Bottom line, I'm ahead....

Only once did I have a car totaled. The other at fault diver's insurance company (Allstate) paid very fairly so I could purchase an equivalent replacement with the settlement.

sirtiger

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yes it's a huge profit for the deal. FYI, sometimes the price is negotiable. You can try. It still maybe worth if you drive in & out of NY/NJ area....depends on your risk tolerance

I got a price reduction for excess wear & tear for my old lease from the dealer. By the time my lease was up, it was banged up a little and a 2-3 bad dents from NYC driving. I was glad to have excess wear & tear from the battlefield of NYC roads....a peace of mind.