R55 What is your feeling about tire insurance?
5th Gear
Joined: May 2008
Posts: 802
Likes: 0
From: DFW
HELL NO. When I replace my run-flats, it'll probably be with Bridgestone, since I love em' and I'll buy a donut.
The ride will be more smoothe then.
The run flats are like driving a Panzer! Ok, I have equivalent experience.
Run flats really stink...to the tune of at least $600 more for a set of 4!
The ride will be more smoothe then.
The run flats are like driving a Panzer! Ok, I have equivalent experience.
Run flats really stink...to the tune of at least $600 more for a set of 4!
3rd Gear
Joined: Apr 2008
Posts: 156
Likes: 1
I just dislike the whole run-flat ideals that are being sold to the public. I always thought you should NOT run a tire when it was flat. That was the whole idea behind having a spare tire in the car. The same motoring public that believes airbags will save their lives so there is no need for a seatbelt.
3rd Gear
Joined: Feb 2009
Posts: 281
Likes: 0
$750 (or, Heaven forbid, $850) for tire/wheel insurance? You gotta be kidding me!! At first, I thought it was a typo and you meant to say $7.50 But, apparently, not. This is absolutely a waste of money. You can easily buy 2-3 wheels/tires for that kind of money.
If you're off-roading the vehicle (not likely, huh?), it would probably be a good buy. But most definitely NOT at $750 for a car that sees only on-road duty.
Some of you guys must have a money tree growing in your backyard...
-RW-
If you're off-roading the vehicle (not likely, huh?), it would probably be a good buy. But most definitely NOT at $750 for a car that sees only on-road duty.
Some of you guys must have a money tree growing in your backyard...
-RW-
Moderator
Joined: Jul 2008
Posts: 11,899
Likes: 2
From: Fredericksburg, VA
Make sure you understand the whole package...
My dealer offers a "Tires for Life" program that costs about $2200 for cars delivered with runflats. It's not just a road hazard program, as it will replace your tires when they are worn, and covers wheels and windshield (even wiper blades and battery) as well. A couple of big problems with their plan: You have to have the tires rotated and balanced every 5,000 miles at the dealer... and they charge $65 for this each time. So, if your tires go 25k miles, you will have also paid for 4 rotations ($260). Second (and probably bigger) issue is that they will only replace with the same tires as delivered with the car. Can't get rid of the runflats.
At first I liked the concept, since we're planning on keeping the car a good long time. Then I did all the math and realized we'd be in the hole until we replaced the fulls set of tires at least twice.
My dealer offers a "Tires for Life" program that costs about $2200 for cars delivered with runflats. It's not just a road hazard program, as it will replace your tires when they are worn, and covers wheels and windshield (even wiper blades and battery) as well. A couple of big problems with their plan: You have to have the tires rotated and balanced every 5,000 miles at the dealer... and they charge $65 for this each time. So, if your tires go 25k miles, you will have also paid for 4 rotations ($260). Second (and probably bigger) issue is that they will only replace with the same tires as delivered with the car. Can't get rid of the runflats.
At first I liked the concept, since we're planning on keeping the car a good long time. Then I did all the math and realized we'd be in the hole until we replaced the fulls set of tires at least twice.
Millennium Tire Protection Plans
Frequently Asked Customer Questions
What is the Millennium Tire Protection Plan – Tires For life?
It’s a prepayment plan for your tires for as long as You own Your new or pre-owned Vehicle, and is incorporated in your financing.
What does this product do?
It replaces your tires at 3/32 tread depth or for pre-owned vehicles at specific mileage interval. Your mileage is based on type of tire, wheel and vehicle you drive. It will also provide you with protection against road & wheel hazard damage, free flat repair, free glass replacement (when road hazard damage is incurred and is un-repairable), free towing (when road hazard damage is incurred and is un-repairable and you have multiple flats), free battery replacement, windshield wiper blade replacement, and light bulb replacement (excludes high intensity bulbs) after your original manufacturers warranty expires on Your new or pre-owned vehicle.
Is it really tires for life or is there a catch?
This product replaces your tires on new vehicles at 3/32 tread depth and pre-owned vehicles at specific mileage intervals for as long as you own your car. There is no limit on the number of replacement tires you can receive. The product is not transferable, so if you sell or otherwise dispose of your vehicle, then the contract expires.
If I buy this product, how often will my tires be replaced?
Depending on your specific vehicle and tire and wheel package, your tires will be replaced when they reach the wear level of 3/32” (except when it is a pre-owned vehicle with less than new tires.). (Remember to maintain Your Tires by having them Rotated and/or Balanced according to Your Plan Specific Intervals).
Is there anything I have to do to make sure I can receive my tires, any ridiculous requirements?
Only regular tire maintenance is required to receive your tires. For most plans this involves regular balance, rotation and wheel alignment. Some plans don’t require rotation. There are no requirements for maintenance other than your tires.
How much does maintenance cost me?
When you bring your car into Your Selling Dealer Service Center, or an approved authorized tire center, you must pay for your mandatory balance and rotation to maintain your contract. Millennium has set up special pricing at Your Selling Dealer for all tire maintenance.
If I do my first balance and rotation at 6,000 miles instead of 5,000 will it void my contract?
No. As a general rule there is a 1,500 – 2,000 mile cushion on maintenance items that the Claims Administrator will observe in evaluating contract compliance.
If I get my maintenance done somewhere else does this void my contract?
No. If you get maintenance work done at a location other than your selling dealer, you must have the authorized Tire Center call Millennium for an Authorization. You will also have to pay out of pocket for service performed, and Millennium will reimburse you under the terms and conditions of your service contract when you file a claim.
I live a long way from here and don’t want to come to My Selling Dealer to get the work done. Why should I buy this plan?
First of all, think about how much money you can save by having your tires covered for the life of your vehicle not just for replacement, but for road hazard also. Millennium will find a dealer or tire store close to you where you can get your maintenance and replacement work performed under your contract.
Is there anything else this plan covers for me?
Yes. If your car is immobilized due to a road hazard towing is covered. Your bulbs, wiper blades and battery are also covered under certain conditions.
Millennium Tire Protection Plans
Frequently Asked Customer Questions, Cont’d
Why are you offering this plan?
Because we believe in the value our customers will receive from it. Many customers see returns on investment of 35% or more. It’s like “prepaying” for all your tires for the life of your car, but at a huge discount!
I just bought my car a few weeks ago. Can I still get this plan?
Yes. You can purchase the Millennium Plan at anytime. Once you purchase the Tires for Life, coverage will begin at the date you purchased your Millennium Contract and mileage starts at your current odometer reading. The idea behind purchasing the Millennium Contract when you purchase Your new or pre-owned Vehicle is to be able to include the plan in your financing. You will not have to pay anything out of pocket for this plan. If you decide to purchase the plan after you purchase your new or pre-owned vehicle, you can pay either by check or credit card at Your Selling Dealer.
I’m not sure I want this plan. Can I wait a while to think about it?
Yes you can. (see above) But if you include it with your vehicle purchase there is only a small monthly addition to your payment. If you wait a few weeks there is no guarantee that your deal can be refinanced to include Tires for Life.
What kind of tires do I get when these are replaced?
When available, your tires are replaced with the same quality and brand. If the brand is not available, you will receive the equivalent tire of another brand. Under no circumstances will you ever receive a tire of inferior quality or performance than your original tires.
What if I don’t like the brand of tire that comes on my vehicle?
Notify Millennium and/or your service advisor of your desire to switch tire brands. They will advise you of your available options and make a recommendation. You may also upgrade to a better tire brand at the time of your tire replacement, but you will have to pay the difference in cost of the OEM tires that were originally on your vehicle and the new tires that will be the replacements.
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Sales Quick Reference Guide
Millennium Tire Protection Plans
The Millennium Tire Protection plans have tremendous appeal to buyers of all types of vehicles. Whether your buyer is discriminating and purpose-driven, or whether they are looking for safety, performance, utility or just status, the Gold Plans, supplied by Millennium, are designed to complete the “package” your customer desires. The benefits are significant and need to be presented to every customer. It represents an opportunity to deepen your understanding of their needs and offer a valuable service they will enjoy and appreciate as long as they own their vehicle.
Customer Reasons to Buy
Convenience - Get their tires taken care of where they get their maintenance work done.
Benefit: Saves time, money and their tires are in the hands of their service professional for peace of mind.
Safety - Tires replacement is determined by 3/32 tread depth wear on all new vehicles, and specific mileage intervals for all pre-owned vehicles without new tires. When you bring your vehicle in at 3/32 tread depth you receive new tires. New tires are more skid resistant which assists in accident avoidance and braking. Newer tires are less prone to flats and air loss.
Benefit: Everyone who rides in your car experiences enhanced safety. Regular tire replacement helps maintain the safety characteristics of your vehicle.
Performance - Vehicles are designed for performance. The tires on your vehicle are a critical part of the customer’s driving experience. Worn tires reduce cornering, acceleration and braking performance.
Benefit: Your Vehicles driving characteristics that customers love so much is maintained through regular tire replacement. Vehicle performance and enjoyment is enhanced.
Value - Tires are expensive and, with oil prices going up, subject to more increases. Customers lock in the cost of their tires today to protect against increased cost later.
Benefit: The customer saves money by avoiding future, inflated purchases. The customer never has to take cash out of pocket which preserves their assets. The customer never has to finance tires on their credit card saving money on interest charges.
Simplicity - Tire maintenance and replacement is as simple as bringing the car back to Your selling Dealer as you normally would for all of your Vehicle maintenance and repair and is your responsibility to pay for the tire maintenance required to maintain your contract.
Benefit: The customer saves valuable time by not having to shop for tires.
Maintenance Integrity - The customer’s tires and wheels are always in the hands of trained service professionals.
Benefit: Peace of mind knowing your car, and your investment, is being worked on by the best and who know the operation of their vehicle inside and out.
Return on Investment - Through two tire replacements your customer is looking at a total return on investment of 142% or greater. Where else can you get a deal like that?
Benefit: Customers enjoy peace of mind knowing their money is well spent. The value of the vehicle is enhanced to the customer.
Presentation Strategies
Prepayment: This program allows you to prepay your tire expenses at a significant discount. Never hassle with the out-of-pocket expense of tire purchases and the uncertainty of placing your car in the hands of unfamiliar personnel.
Family, Occupant and Personal Safety and Performance: Regular tire replacement enhances the safety of your vehicle. It helps maintain the handling, traction and stopping performance of your vehicle. Tires are replaced at 3/32 tread depth on al new vehilces and at specific mileage intervals on all pre-owned vehicles without new tires. You are making a great decision to help protect everyone who drives or rides in your vehicle and enhance your enjoyment of driving your vehicle.
Financial Benefit: Through two tire replacements you are looking at a total return on investment of 142% or greater. Where else can you get a deal like that? Many types of insurance and extended warranty programs only provide benefits if something fails or if you die, like credit life insurance.
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Plan Descriptions and Requirements
All Plans Requirements
Wheel Alignment Incurred by Road Hazard Damage
Battery Replacement Outside of Manufacturer’s Original Warranty
Windshield Repair or Replacement Free (When Road Hazard is Incurred and is repairable or Un-repairable)
Wiper Blade and Bulb Replacement Outside of Manufacturer’s Original Warranty
Towing When Vehicle Is Immobilized Due To A Road Hazard
Millennium Gold Plan Requirements
Tire Replacement Interval - New Vehicles 3/32 tread depth
Tire Replacement Interval - Pre-Owned Every 35,000 miles beginning from Odometer Reading at Purchase
Rotation and Balance Interval - New Vehicles Every 7,000 miles
Rotation and Balance Interval - Pre-Owned Every 7,000 miles beginning from Odometer Reading at Purchase
Millennium Gold Premium Plan Requirements
Tire Replacement Interval - New Vehicles 3/32 tread depth
Tire Replacement Interval - Pre-Owned Every 25,000 miles beginning from Odometer Reading at Purchase
Rotation and Balance Interval - New Vehicles Every 5,000 miles
Rotation and Balance Interval - Pre-Owned Every 5,000 miles beginning from Odometer Reading at Purchase
Millennium Gold Premium Dual-Sport Plan Requirements
Tire Replacement Interval - New Vehicles 3/32 tread depth
Tire Replacement Interval - Pre-Owned Every 25,000 miles beginning from Odometer Reading at Purchase
Tire Replacement Interval - Dual Axle Trucks – New 3/32 tread depth
Tire Replacement Interval - Dual Axle Trucks - Pre-Owned Every 35,000 miles from Odometer Reading at Purchase
Balance Only Interval - New Cars and SUV’s Every 5,000 miles
Balance Only Interval - Pre-Owned Every 5,000 miles beginning from Odometer Reading at Purchase
Rotation and Balance Interval Dual Axle Trucks - New Every 7,000 miles
Rotation and Balance Interval Dual Axle Trucks - Pre-Owned Every 7,000 miles beginning from Odometer Reading at Purchase
Millennium Gold Premium Run Flat Plan Requirements
Tire Replacement Interval - New Vehicles 3/32 tread depth
Tire Replacement Interval - Pre-Owned Every 35,000 miles beginning from Odometer Reading at Purchase
Rotation and Balance Interval - New Vehicles Every 7,000 miles
Rotation and Balance Interval - Pre-Owned Every 7,000 miles beginning from Odometer Reading at Purchase
Millennium Gold Premium Super-Sport Plan Requirements
Tire Replacement Interval - New Vehicles 3/32 tread depth
Tire Replacement Interval - Pre-Owned Every 25,000 miles beginning from Odometer Reading at Purchase
Balance or Balance/Rotation Interval - New Cars and SUV’s Every 5,000 miles
Balance or Balance/Rotation Interval - Pre-Owned Every 5,000 miles beginning from Odometer Reading at Purchase
Frequently Asked Customer Questions
What is the Millennium Tire Protection Plan – Tires For life?
It’s a prepayment plan for your tires for as long as You own Your new or pre-owned Vehicle, and is incorporated in your financing.
What does this product do?
It replaces your tires at 3/32 tread depth or for pre-owned vehicles at specific mileage interval. Your mileage is based on type of tire, wheel and vehicle you drive. It will also provide you with protection against road & wheel hazard damage, free flat repair, free glass replacement (when road hazard damage is incurred and is un-repairable), free towing (when road hazard damage is incurred and is un-repairable and you have multiple flats), free battery replacement, windshield wiper blade replacement, and light bulb replacement (excludes high intensity bulbs) after your original manufacturers warranty expires on Your new or pre-owned vehicle.
Is it really tires for life or is there a catch?
This product replaces your tires on new vehicles at 3/32 tread depth and pre-owned vehicles at specific mileage intervals for as long as you own your car. There is no limit on the number of replacement tires you can receive. The product is not transferable, so if you sell or otherwise dispose of your vehicle, then the contract expires.
If I buy this product, how often will my tires be replaced?
Depending on your specific vehicle and tire and wheel package, your tires will be replaced when they reach the wear level of 3/32” (except when it is a pre-owned vehicle with less than new tires.). (Remember to maintain Your Tires by having them Rotated and/or Balanced according to Your Plan Specific Intervals).
Is there anything I have to do to make sure I can receive my tires, any ridiculous requirements?
Only regular tire maintenance is required to receive your tires. For most plans this involves regular balance, rotation and wheel alignment. Some plans don’t require rotation. There are no requirements for maintenance other than your tires.
How much does maintenance cost me?
When you bring your car into Your Selling Dealer Service Center, or an approved authorized tire center, you must pay for your mandatory balance and rotation to maintain your contract. Millennium has set up special pricing at Your Selling Dealer for all tire maintenance.
If I do my first balance and rotation at 6,000 miles instead of 5,000 will it void my contract?
No. As a general rule there is a 1,500 – 2,000 mile cushion on maintenance items that the Claims Administrator will observe in evaluating contract compliance.
If I get my maintenance done somewhere else does this void my contract?
No. If you get maintenance work done at a location other than your selling dealer, you must have the authorized Tire Center call Millennium for an Authorization. You will also have to pay out of pocket for service performed, and Millennium will reimburse you under the terms and conditions of your service contract when you file a claim.
I live a long way from here and don’t want to come to My Selling Dealer to get the work done. Why should I buy this plan?
First of all, think about how much money you can save by having your tires covered for the life of your vehicle not just for replacement, but for road hazard also. Millennium will find a dealer or tire store close to you where you can get your maintenance and replacement work performed under your contract.
Is there anything else this plan covers for me?
Yes. If your car is immobilized due to a road hazard towing is covered. Your bulbs, wiper blades and battery are also covered under certain conditions.
Millennium Tire Protection Plans
Frequently Asked Customer Questions, Cont’d
Why are you offering this plan?
Because we believe in the value our customers will receive from it. Many customers see returns on investment of 35% or more. It’s like “prepaying” for all your tires for the life of your car, but at a huge discount!
I just bought my car a few weeks ago. Can I still get this plan?
Yes. You can purchase the Millennium Plan at anytime. Once you purchase the Tires for Life, coverage will begin at the date you purchased your Millennium Contract and mileage starts at your current odometer reading. The idea behind purchasing the Millennium Contract when you purchase Your new or pre-owned Vehicle is to be able to include the plan in your financing. You will not have to pay anything out of pocket for this plan. If you decide to purchase the plan after you purchase your new or pre-owned vehicle, you can pay either by check or credit card at Your Selling Dealer.
I’m not sure I want this plan. Can I wait a while to think about it?
Yes you can. (see above) But if you include it with your vehicle purchase there is only a small monthly addition to your payment. If you wait a few weeks there is no guarantee that your deal can be refinanced to include Tires for Life.
What kind of tires do I get when these are replaced?
When available, your tires are replaced with the same quality and brand. If the brand is not available, you will receive the equivalent tire of another brand. Under no circumstances will you ever receive a tire of inferior quality or performance than your original tires.
What if I don’t like the brand of tire that comes on my vehicle?
Notify Millennium and/or your service advisor of your desire to switch tire brands. They will advise you of your available options and make a recommendation. You may also upgrade to a better tire brand at the time of your tire replacement, but you will have to pay the difference in cost of the OEM tires that were originally on your vehicle and the new tires that will be the replacements.
[FONT="]
[/FONT]
Sales Quick Reference Guide
Millennium Tire Protection Plans
The Millennium Tire Protection plans have tremendous appeal to buyers of all types of vehicles. Whether your buyer is discriminating and purpose-driven, or whether they are looking for safety, performance, utility or just status, the Gold Plans, supplied by Millennium, are designed to complete the “package” your customer desires. The benefits are significant and need to be presented to every customer. It represents an opportunity to deepen your understanding of their needs and offer a valuable service they will enjoy and appreciate as long as they own their vehicle.
Customer Reasons to Buy
Convenience - Get their tires taken care of where they get their maintenance work done.
Benefit: Saves time, money and their tires are in the hands of their service professional for peace of mind.
Safety - Tires replacement is determined by 3/32 tread depth wear on all new vehicles, and specific mileage intervals for all pre-owned vehicles without new tires. When you bring your vehicle in at 3/32 tread depth you receive new tires. New tires are more skid resistant which assists in accident avoidance and braking. Newer tires are less prone to flats and air loss.
Benefit: Everyone who rides in your car experiences enhanced safety. Regular tire replacement helps maintain the safety characteristics of your vehicle.
Performance - Vehicles are designed for performance. The tires on your vehicle are a critical part of the customer’s driving experience. Worn tires reduce cornering, acceleration and braking performance.
Benefit: Your Vehicles driving characteristics that customers love so much is maintained through regular tire replacement. Vehicle performance and enjoyment is enhanced.
Value - Tires are expensive and, with oil prices going up, subject to more increases. Customers lock in the cost of their tires today to protect against increased cost later.
Benefit: The customer saves money by avoiding future, inflated purchases. The customer never has to take cash out of pocket which preserves their assets. The customer never has to finance tires on their credit card saving money on interest charges.
Simplicity - Tire maintenance and replacement is as simple as bringing the car back to Your selling Dealer as you normally would for all of your Vehicle maintenance and repair and is your responsibility to pay for the tire maintenance required to maintain your contract.
Benefit: The customer saves valuable time by not having to shop for tires.
Maintenance Integrity - The customer’s tires and wheels are always in the hands of trained service professionals.
Benefit: Peace of mind knowing your car, and your investment, is being worked on by the best and who know the operation of their vehicle inside and out.
Return on Investment - Through two tire replacements your customer is looking at a total return on investment of 142% or greater. Where else can you get a deal like that?
Benefit: Customers enjoy peace of mind knowing their money is well spent. The value of the vehicle is enhanced to the customer.
Presentation Strategies
Prepayment: This program allows you to prepay your tire expenses at a significant discount. Never hassle with the out-of-pocket expense of tire purchases and the uncertainty of placing your car in the hands of unfamiliar personnel.
Family, Occupant and Personal Safety and Performance: Regular tire replacement enhances the safety of your vehicle. It helps maintain the handling, traction and stopping performance of your vehicle. Tires are replaced at 3/32 tread depth on al new vehilces and at specific mileage intervals on all pre-owned vehicles without new tires. You are making a great decision to help protect everyone who drives or rides in your vehicle and enhance your enjoyment of driving your vehicle.
Financial Benefit: Through two tire replacements you are looking at a total return on investment of 142% or greater. Where else can you get a deal like that? Many types of insurance and extended warranty programs only provide benefits if something fails or if you die, like credit life insurance.
[FONT="]
[/FONT]
Plan Descriptions and Requirements
All Plans Requirements
Wheel Alignment Incurred by Road Hazard Damage
Battery Replacement Outside of Manufacturer’s Original Warranty
Windshield Repair or Replacement Free (When Road Hazard is Incurred and is repairable or Un-repairable)
Wiper Blade and Bulb Replacement Outside of Manufacturer’s Original Warranty
Towing When Vehicle Is Immobilized Due To A Road Hazard
Millennium Gold Plan Requirements
Tire Replacement Interval - New Vehicles 3/32 tread depth
Tire Replacement Interval - Pre-Owned Every 35,000 miles beginning from Odometer Reading at Purchase
Rotation and Balance Interval - New Vehicles Every 7,000 miles
Rotation and Balance Interval - Pre-Owned Every 7,000 miles beginning from Odometer Reading at Purchase
Millennium Gold Premium Plan Requirements
Tire Replacement Interval - New Vehicles 3/32 tread depth
Tire Replacement Interval - Pre-Owned Every 25,000 miles beginning from Odometer Reading at Purchase
Rotation and Balance Interval - New Vehicles Every 5,000 miles
Rotation and Balance Interval - Pre-Owned Every 5,000 miles beginning from Odometer Reading at Purchase
Millennium Gold Premium Dual-Sport Plan Requirements
Tire Replacement Interval - New Vehicles 3/32 tread depth
Tire Replacement Interval - Pre-Owned Every 25,000 miles beginning from Odometer Reading at Purchase
Tire Replacement Interval - Dual Axle Trucks – New 3/32 tread depth
Tire Replacement Interval - Dual Axle Trucks - Pre-Owned Every 35,000 miles from Odometer Reading at Purchase
Balance Only Interval - New Cars and SUV’s Every 5,000 miles
Balance Only Interval - Pre-Owned Every 5,000 miles beginning from Odometer Reading at Purchase
Rotation and Balance Interval Dual Axle Trucks - New Every 7,000 miles
Rotation and Balance Interval Dual Axle Trucks - Pre-Owned Every 7,000 miles beginning from Odometer Reading at Purchase
Millennium Gold Premium Run Flat Plan Requirements
Tire Replacement Interval - New Vehicles 3/32 tread depth
Tire Replacement Interval - Pre-Owned Every 35,000 miles beginning from Odometer Reading at Purchase
Rotation and Balance Interval - New Vehicles Every 7,000 miles
Rotation and Balance Interval - Pre-Owned Every 7,000 miles beginning from Odometer Reading at Purchase
Millennium Gold Premium Super-Sport Plan Requirements
Tire Replacement Interval - New Vehicles 3/32 tread depth
Tire Replacement Interval - Pre-Owned Every 25,000 miles beginning from Odometer Reading at Purchase
Balance or Balance/Rotation Interval - New Cars and SUV’s Every 5,000 miles
Balance or Balance/Rotation Interval - Pre-Owned Every 5,000 miles beginning from Odometer Reading at Purchase
3rd Gear
Joined: Feb 2009
Posts: 281
Likes: 0
*/ Emily Littela mode
Oh, that's different!
*/ End Emily Emily Littela mode
I may have been a just leetle bit hasty with my response based upon this last post. If the plan provides new tires (and wheels, if needed) for the life of the vehicle, the plan would be a pretty good deal for $750, or even $850. I had thought it was nothing more than a glorified Road Hazard policy.
If you plan on keeping the car for more than 50,000 mi., you'd probably come out way ahead by getting the plan.
-RW- Opens mouth wider and inserts other foot...
Oh, that's different!
*/ End Emily Emily Littela mode
I may have been a just leetle bit hasty with my response based upon this last post. If the plan provides new tires (and wheels, if needed) for the life of the vehicle, the plan would be a pretty good deal for $750, or even $850. I had thought it was nothing more than a glorified Road Hazard policy.
If you plan on keeping the car for more than 50,000 mi., you'd probably come out way ahead by getting the plan.
-RW- Opens mouth wider and inserts other foot...
5th Gear
Joined: Oct 2002
Posts: 779
Likes: 4
Typically a huge rip off. Never forget that insurance for anything, on the average, must take it more for premiums than it pays out on claims, otherwise the insurers would go out of business. Would anybody be pushing tire insurance if this wasn't true? Of course not. And if you're finances are not such that you can't self-insure and afford a new tire or wheel in the unlikely event of a problem, then you have no business buying a new car.
Typically half (yes HALF) of the $750 cost of tire insurance goes DIRECTLY into the pockets of the finance manager and car salesman. Then the dealership takes their $150 cut, so net-net, the insurance company actually underwrites the policy for $200 or so. You pay $750 and the insurance company makes money at $200 - this tells you all you need to know about how much they pay out on claims on average.
- Mark
Typically half (yes HALF) of the $750 cost of tire insurance goes DIRECTLY into the pockets of the finance manager and car salesman. Then the dealership takes their $150 cut, so net-net, the insurance company actually underwrites the policy for $200 or so. You pay $750 and the insurance company makes money at $200 - this tells you all you need to know about how much they pay out on claims on average.
- Mark
Mark, What you say is very true, but I only paid $536 for the Tire/Wheel Insurance and have already taken advantage of it. Rather than spending about 400 on a new rim and tire i spent nothing. Now the next time it happens i will have actually made money on the deal.
I live in New England and there are lots of pot holes this time of year and that's what did in one tire and rim on my car. Now the insurance company has asked me to write a letter for them explaining exactly what happened, where it happened. This is so that they can try and sue the town over the pot hole and try and recoup their money.
I live in New England and there are lots of pot holes this time of year and that's what did in one tire and rim on my car. Now the insurance company has asked me to write a letter for them explaining exactly what happened, where it happened. This is so that they can try and sue the town over the pot hole and try and recoup their money.
3rd Gear
Joined: May 2008
Posts: 212
Likes: 0
From: Med. to Well Done in Phx
Is it really tires for life or is there a catch?
This product replaces your tires on new vehicles at 3/32 tread depth and pre-owned vehicles at specific mileage intervals for as long as you own your car. There is no limit on the number of replacement tires you can receive. The product is not transferable, so if you sell or otherwise dispose of your vehicle, then the contract expires.
This product replaces your tires on new vehicles at 3/32 tread depth and pre-owned vehicles at specific mileage intervals for as long as you own your car. There is no limit on the number of replacement tires you can receive. The product is not transferable, so if you sell or otherwise dispose of your vehicle, then the contract expires.
Woo hoo! Your opportunity to become the new drift king. Have fun with that!
2nd Gear
Joined: Feb 2009
Posts: 51
Likes: 0
When I got mine, I also got the tire insurance. The reason I got it was my sister recently had a flat. She took it to pepboys. They told her the flat can't be repaired. It needs to be replace. The other front tire also needs replace due to the thread depth. Then half hour later they called and informed her that there is a crack on one of the rim which needs a new rim for it. The pepboys had to called the MB to get the new rim. The total charge came out to be $750 included labor. (My sister drove a MB C230 with 17' rim with preformance tires.)
With this happened to my sister a couple weeks before I picked up my Clubman, the tire insurance was offered to me at the dealer. I thought about it and discuss with my wife. We both thought that this could be a good insurance to our Clubman since we live in NJ. There are many pot holes on the road after winter season, especially the roads I travel.
I asked the dealer about the insurance. They said it covers a wide range of the tires and rim as long as the spec fit the mini. So if I got a after market 17' rim and something ever happened to it, the insurance still covers it.
With this happened to my sister a couple weeks before I picked up my Clubman, the tire insurance was offered to me at the dealer. I thought about it and discuss with my wife. We both thought that this could be a good insurance to our Clubman since we live in NJ. There are many pot holes on the road after winter season, especially the roads I travel.
I asked the dealer about the insurance. They said it covers a wide range of the tires and rim as long as the spec fit the mini. So if I got a after market 17' rim and something ever happened to it, the insurance still covers it.
1st Gear
Joined: Oct 2008
Posts: 31
Likes: 0
I bought the Mini/BMW insurance when I picked up the new car mainly because the roads here in Vancouver can be so potholed during the winter that knackering your rims is pretty easy to do and my coverage will give me a new set of tires or set of rims.
2nd Gear
Joined: Mar 2009
Posts: 103
Likes: 0
From: Hollywood, California
Insurance isn't for the small, occasional nail in the tire.
Insurance is for the big, expensive stuff that
no one ever thinks will happen to them.
I bought it for my 2009 Clubman Goodyear
run flats and 16" alloy bridge spoke wheels.
Good for as long as I'm gonna own the car
and definitely worth the price.
Insurance is for the big, expensive stuff that
no one ever thinks will happen to them.
I bought it for my 2009 Clubman Goodyear
run flats and 16" alloy bridge spoke wheels.
Good for as long as I'm gonna own the car
and definitely worth the price.
3rd Gear
Joined: May 2008
Posts: 197
Likes: 0
I think it's not worth it. Like most warranty programs on products you buy, it is calculated to that the people offereing the warranty will come out ahead, which means that the average person buying the warranty comes out behind.
6th Gear
Joined: Feb 2008
Posts: 1,291
Likes: 5
From: Hauppauge, NY
For my 15" wheels, a replacement set of unused OEM rims is around $250!
1st Gear
Joined: Feb 2009
Posts: 31
Likes: 0
DO NOT DO IT. They tried to tell me that it would cost $400 per tire to replace a tire if it went out. I didn't fall for it and, given that I've yet to even have a flat, did not buy it. Turns out, I could replace all 4 tires AND buy the $15 insurance from the tire store for less than the premiums they were pushing.
2nd Gear
Joined: Mar 2009
Posts: 137
Likes: 0
From: North Jersey, USA
I've been reading this post because my MA offered me this for about $400 for 3 years. However, it doesn't cover "road conditions covered in construction areas", and doesn't cover sidewall damage. I may be jinxing myself, but over the past several years, I've only picked up a nail once or twice. Twice, I've had sidewall damage from people hitting the curb. Not covered.
As for potholes, are the standard 16" rims w/ run flats more prone to damage from potholes than other tire/wheel combinations found on other cars?
As for potholes, are the standard 16" rims w/ run flats more prone to damage from potholes than other tire/wheel combinations found on other cars?
3rd Gear
Joined: Feb 2009
Posts: 281
Likes: 0
>> As for potholes, are the standard 16" rims w/ run flats more prone to damage from potholes than other tire/wheel combinations found on other cars? <<
Not really. The two biggest factors in potential tire/wheel damage is the tire pressure you run and the aspect ratio of your tires. Running lower pressure allows for more give when the tire hits the pothole, thus lessening the potential for damage. Similarly, a smaller aspect ratio will tend to transmit more force to the wheel thus increasing the potential for damage.
I am constantly amazed at the folks on this site who opt for 17 or 18 inch wheels with tires having an aspect ratio of 45 or less. Let's not even consider the *******es who run 19" rims with a 30 series aspect ratio, they're just stone crazy. I guess they live in a perfect world where the roads are glass-smooth and never encounter any serious potholes.
I find the 16" rims with a 55 aspect ratio the most I am willing to chance on the roads around our nation's capital. Anything less than that is begging for wheel and/or tire damage. But hey, to each his own, as they say....
And, as MiniClubman so clearly explained, there are TONS new or near-new take-offs right here in the marketplace. I know, for a fact, that you can buy a complete set of 4 brand new 16" rims with runflats, already mounted and with the TPMS's for $600 or less. Now, you explain to me how a $750 policy is a better deal than that...
Not really. The two biggest factors in potential tire/wheel damage is the tire pressure you run and the aspect ratio of your tires. Running lower pressure allows for more give when the tire hits the pothole, thus lessening the potential for damage. Similarly, a smaller aspect ratio will tend to transmit more force to the wheel thus increasing the potential for damage.
I am constantly amazed at the folks on this site who opt for 17 or 18 inch wheels with tires having an aspect ratio of 45 or less. Let's not even consider the *******es who run 19" rims with a 30 series aspect ratio, they're just stone crazy. I guess they live in a perfect world where the roads are glass-smooth and never encounter any serious potholes.
I find the 16" rims with a 55 aspect ratio the most I am willing to chance on the roads around our nation's capital. Anything less than that is begging for wheel and/or tire damage. But hey, to each his own, as they say....
And, as MiniClubman so clearly explained, there are TONS new or near-new take-offs right here in the marketplace. I know, for a fact, that you can buy a complete set of 4 brand new 16" rims with runflats, already mounted and with the TPMS's for $600 or less. Now, you explain to me how a $750 policy is a better deal than that...
Last edited by rlw; Apr 21, 2009 at 01:30 PM.
3rd Gear
Joined: May 2008
Posts: 197
Likes: 0
Anecdotal evidence aside, any kid of insurance/extended warranty is a gamble and the odds are (as always) stacked in favor of the house. Over the long run the house llways wins (or there wouldn't be a house...)
This goes for tire insurance as well as extended warranties or maintenance programs on electronics, etc. If you refused every single attempt to upsell you on these types of programs and put that money in an account you would end up ahead by simply paying for whatever breaks.
Consumer Reports says so as well as Clark Howard.
They are selling you the insurance so they can make a profit. they make this profit because they know they will only pay on a fraction of the policies they sell.
It's a numbers game. Whether you're buying a new car or a DVD player. Just say no to all of it and you will come out ahead over the long run.
This goes for tire insurance as well as extended warranties or maintenance programs on electronics, etc. If you refused every single attempt to upsell you on these types of programs and put that money in an account you would end up ahead by simply paying for whatever breaks.
Consumer Reports says so as well as Clark Howard.
They are selling you the insurance so they can make a profit. they make this profit because they know they will only pay on a fraction of the policies they sell.
It's a numbers game. Whether you're buying a new car or a DVD player. Just say no to all of it and you will come out ahead over the long run.
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