Is the safety lease program worth it?

[RPX5]

What do you think?

[bigx5er]

No.

[RPX5]

simply put! thank you. anyone have an argument?

[ard]

Well, is it worth WHAT?

For $1 you are a fool not to buy it.

My point is the answer depends on the price, how you care for cars and where you live/how you drive...

So without some minimal background, what kind of answer are you looking to get??

[RPX5]

For sure. It will translate to about $648 throughout the 36 month term.

I figured those who know more than me about the safe lease program, would automatically have an idea of cost/function.

The finance manager mentioned that I was getting a 15% discount on the program in order for them to help me stay within my budget.

The reason I'm thinking it may not be worth it is because I'm pretty meticulous with my cars, plus I have a secondary set of wheels/tires which will be used 4-5 months out of the year, minimizing the wear on the stock run flats.

[Thunder22]

What is the safety lease program? I've never heard of it.

[JCL]

Originally Posted by Thunder22

What is the safety lease program? I've never heard of it.

An insurance program on vehicle condition at end of lease.

[ard]

There is no fixed "cost"...it is whatever the finance manager says is "msrp" BMW has no published price (there may be suggested pricing floating around but nothing concrete, AFAIK)...and 762 doesn't sound like a list price (15% off 762 is 648)

Which is interesting...might be the first time a dealer has made up a number, or claimed someone is getting a discount, in order to sell a car... hmmm....

How much did you spend on door dings over the last 3 years? Boston can be a tough environment when parking.... depending on where exactly you live/park

Any chance you'll buy the car at the end? The money is wasted.

Finally, regarding tires.... I almost view this like the 'pre-purchase gas option' when you rent cars- you buy the whole tank in advance, but return the car with 3/8 of a tank and you just paid 60% more for the gas...in 36 months you will likely need tires- but when? If you go 2 years and need tires you are returning the car with 50%. If you manage to get 36 months, perfect.

One other option is to keep the old, worn OE tires and put them back on when you return the car- keeping the partially used tires you have- sell em, use em (and you can go to a non-run flat or other tire at your 'mid lease tire purchase' knowing you can throw those old baldys back on...)


Check out the lease return guidelines: Wear and Use Guidlines: Exterior



Food for thought, no one answer

A

[ard]

Originally Posted by Thunder22

What is the safety lease program? I've never heard of it.

He means Safe Lease Program.


FYI- I just read it and your wheels can be curbed and scratched- but as long as "no cracks" and "no structural dents" and you are OK....

[alexmish]

Generally speaking, you should only buy insurance on things you can not afford to pay out of your pocket when s..t hits the fan, or when cost of insurance gets covered by even 1 minor incident. For example - your health costs, house/structure insurance, full car insurance (100/300K) etc. For Tire & wheel warranty, lease end condition, appliance/TV and other things the insurance only makes sense if the cost of it is less than 10% (that is my threshold, yours could vary) of what you would have to pay out of pocket if you did not have it.

For example, BMW tire and wheel warranty, which is typically sold for around $1200. Assuming (based on previous experience), I will get 1 flat and 1 damaged rim over the lease's period of time, I might as well just pay for that replacement, which is about $800 including mounting and balancing. So if someone would offer me such protection for $100 or less, I would take it. Otherwise, it is money wasted IMHO - I'll keep the money until I need to spend it (if at all).