10-24-2011, 02:12 PM | #1 |
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tire n wheel warranty price?
HI ALL !
WHAT will be a good price for bmw 1m tire and wheel warranty. MY dealer sold me a bmw warranty for 5 years /unlimited miles for $1000.zero deductible. the retail was $1895.00 and the cost was $950.00 per him. what do u guys think should i keep it or drop the coverage since i have a week to cancell for a full refund. thanks. |
10-24-2011, 02:21 PM | #2 | |
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10-24-2011, 02:32 PM | #4 |
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Well, it's a calculated gamble. The way I looked at it, I've been driving for several decades and never bent a wheel. (Granted, none of them have been 19". And, famous last words.) A new wheel from Tischer is about $600. The chances I'd irreparably damage 2 wheels seems relatively unlikely.
On Tirerack, a new Michelin PSS runs ~ $300, the PS2 is about $400. 3-4 damaged-beyond-repair tires in 4-5 years? Possible, but again, somewhat unlikely. Unless the roads are absolutely horrific where you're at, I figure the BMW underwriters/actuaries are smarter than us, and wouldn't offer it unless they'd make $ off us. Then again, I have a friend at work who has spent $1500 on runflats and wheels this year alone on their 328i vert. What do you think? |
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10-24-2011, 02:37 PM | #5 | |
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10-24-2011, 02:41 PM | #6 |
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Performance, not run flats. That is why there is the "M Mobility System" in the trunk.
I opted for it, primarily for peace of mind. Also there are horrible roads in major cities (Philadelphia, NYC) where I am a fair amount. |
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10-24-2011, 03:17 PM | #7 | |
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10-24-2011, 03:29 PM | #8 |
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The problem I have is that any wheels damage has to be as a result of a flat. Curb rash or damage from a pothole is not according to my dealership.
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10-24-2011, 03:57 PM | #9 |
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Curb rash is excluded, as well as any damage to tires that are nearly bald ( < 2/32"). However, I'm reasonably sure that they'll cover pothole damage. (The brochure is somewhat vague, saying that it includes replacement of flat tire or damaged wheel "due to road hazard.")
From BMW USA's website: "The BMW Tire & Wheel Protection program provides coverage in the event of damage to your tires or wheels as a result of metal, nails, glass, debris, potholes, blowouts, etc. (excluding cosmetic damage)." |
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10-24-2011, 04:38 PM | #11 | |
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10-24-2011, 06:30 PM | #12 |
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The BMW tire/wheel package covers damage from a pothole. My dealer said all that is required is if it is loosing air due to the damage, the wheel (and probably tire) will be replaced.
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10-24-2011, 06:37 PM | #13 |
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If you hit a pothole and it's cosmetically damaged, you need to run thru it again until you really damage the rim. BMW is not offering this because they're doing us a favor. It's a money making business and unless your in a area with alot of road damage, I would opt out.
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10-24-2011, 06:40 PM | #14 |
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if it's a third party insurance like safe guard they will cover all pot hole damage, i have this only my GTI.
Honestly, it all depends on your car, where you live, and what tire sizes you run. On my GTI they have low profiles, which get bubbles ALL the time. I also live in NY, and consistently drive through manhattan and shitty ass queens. Long Island roads also suck too. So if your anywhere with shitty roads like here id def. get it! I paid $600 on my GTI and i already had 4 tires replaced (bubbles) @ $200/tire & 1 rim. Already paid off and i only had it for 1 year. |
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10-24-2011, 07:58 PM | #15 |
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I paid 1349. I live in Florida and the roads here are pretty good. But somehow I manage to get nails in my tires. I've always purchased wheel and tire packages- and so far it has been worth it.
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10-24-2011, 08:14 PM | #16 |
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Despite the anecdotal evidence here and there, wheel and tire coverage is hardly ever worth buying. Consider the other kinds of insurance you can get and what you pay for it (i.e., homeowner's insurance, collision and/or comprehensive coverage, life insurance [excluding credit life insurance, which is a horrible rip-off], etc.) The amount of premium you pay relative to the amount of coverage you get with, say, collision coverage is worth it ($800 for a $50,000 car). But the amount of premium you pay for wheel and tire coverage compared to the amount of coverage you get just doesn't make financial sense (i.e., $1,000 premium for, say, $5,000 in coverage). Most of these "soft adds" dealers sell are marked up at 100% and over. GAP insurance, theft-guard window etching, fabric protection, paint sealant and similar "products" that are sold when you step into the finance manager's office are never anywhere near the price at which they are sold. I once had an ex-finance manager tell me that they call the customers who buy these kinds of products low-flying ducks.
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10-24-2011, 09:07 PM | #17 |
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$1000 sounds pretty good. I paid $1100 today - discounted from $1289 list rate. Sounds like either dealers charge whatever they want or rates differ depending on location. I was told this was the BMW plan and they set the rate.
Insurance is a funny thing - you know it's making the issuer a nice profit across the entire population, but you don't know if you'll be the exception to everybody else getting ripped off. Typically I'm not an insurance/warranty kind of guy unless it's catastrophic + unlikely (house fire) or an appliance that gets heavy use. Case in point, I've gone 8 years without paying for a new living room TV thanks to buying two extended warranties. I knew they'd be used heavily and moved more than once under difficult conditions. DC-area roads qualify as "difficult conditions" in my mind, so that made the wheel/tire insurance a relatively easy decision. It's also transferable, so you figure you might see some of that cost back if you ever sell the car. |
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10-25-2011, 12:00 PM | #18 |
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This thread made me pull mine out and look!
I bought mine at Flow BMW here in Winston Salem, NC with a comapny named First Automotive by SouthwestRe. I was told the owner of Flow is a partner in this deal. Anyway, mine was $699 for 5 years with zero deductible. Pretty good, but the killer is always the details of what and how are covered. |
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10-25-2011, 12:36 PM | #19 |
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i called the dealership and request for a refund. they were happy to refund it.. i will take my chances on this one... atleast 1k is there to spare incase somethinng happens.
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10-25-2011, 01:20 PM | #20 | |
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Sales people in back rooms refer to these products as cheese... gravy....etc... because they add a lot more profit to the sale. " How did that deal go? " " Oh I sold them the ( insert product here) and they went with the extra cheese. " All that aside... as bentone stated.... if you actually use the product... it may work out to be a good savings and a good purchase. If you don't use it.... then oftentimes one feels like a chump.. As far as roads in DC... Oh I would be all over a tire warranty... In Texas where I am... roads are bumpy and they undulate... but they are not often filled with potholes... |
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10-25-2011, 01:52 PM | #21 |
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A family member has the Tire and Wheel warranty on her MINI, in the 2 years since she bought the car, the warranty has replaced 6 run flats for her and at that time the warranty was about $600.
Now here is an instance where the warranty more than paid for it's self. With the MINI USA warranty any flat is replaced with a new tire. We have the BMW warranty on the 1M and i believe it operates the same way. As far as wheels, that is less clear cut, I was told that in order for the wheel to be replaced under the warranty it had to be damaged structurally or to the point where it will not hold air. WB |
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10-25-2011, 02:02 PM | #22 |
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The "value" of this coverage, just like any insurance, is not based on either the margin, ANY insurance is purchased for the peace of mind. If the law of large numbers means the issuer can make a 90% margin and still cover claims, so be it!
My bet is that many of you here have Term life insurance for peace of mind. But did you know that less then 2% of term policies ever pay a benefit? Why do you think life insurance comapnies are the third largest property owners in the US (behind fed Govt and China). $600, $1,000, $1,500, what does it matter if you can afford it and it makes you sleep better at night? It seems that many BMW buyers are "penny wise and pound foolish". Tightwads should buy Mazdas! |
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