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      05-07-2021, 05:47 PM   #1
GG Pgh
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Lease protection plan?

I'm new to the forum. I hope someone can help or share some guidance.
Going to lease a new x5 M50i (with 21 inch runflats).
I'm considering the lease-end protection plan, which they say covers any and all damage/scratches/dents / curbed wheels etc, as well as tires - at the time of lease end).
Started out at $1375 .... long story short I saw dealer cost (verified) at $875. They would include it for me at $975.
Worth it?
Thanks much.

GG
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      05-07-2021, 07:55 PM   #2
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Probably the best way to decide on this is to estimate how much wear you'll put on the tires and stack the cost up against a new set for turn in. You can come out on top if you get a new set of tires out of it then everything else is just gravy.
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      05-07-2021, 09:20 PM   #3
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I'd personally go for it, but one thing to keep in mind is what I've often heard from enthusiasts - never cheap out on tires, brakes, and wipers.

Especially with these runflats, they may very well need replacing part way through your lease, and I wouldn't forego such a critical safety element just due to turn in exemptions.

Also, double check the details but I've usually heard of that plan extending the W&T allowance at turn in to 7500$ with a 400$ maximum for any one item, versus unlimited coverage.
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      05-07-2021, 10:03 PM   #4
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Is it the BMW backed plan or third party?
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      05-07-2021, 10:11 PM   #5
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It's the BMW backed plan, thanks for asking.
I was told $5000 maximum for all issues - dents/dings/wheels/tires etc. But that nobody gets up that high on a return regardless....
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      05-08-2021, 06:45 AM   #6
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So perhaps I stand corrected. The lease end protection package says "BMW Ultimate Protection" on the first page, with the logo, but the administrator or underwriter appears to be Safe-Guard Products International in Georgia. Does that make a difference? Read through it. Seems reasonable and no alarms went off in my head. No single line item can exceed $1000, max of $5000 coverage.
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      05-08-2021, 08:46 AM   #7
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Quote:
Originally Posted by GG Pgh View Post
So perhaps I stand corrected. The lease end protection package says "BMW Ultimate Protection" on the first page, with the logo, but the administrator or underwriter appears to be Safe-Guard Products International in Georgia. Does that make a difference? Read through it. Seems reasonable and no alarms went off in my head. No single line item can exceed $1000, max of $5000 coverage.
I had a similar plan on my previous lease with Infiniti and mainly used it to fix some scratched rims and to replace a key fob it turns out I didn't actually lose. It had lease end protection benefits, but I didn't get to cash in on it due to the contract having a different end date compared to the maturity date of the lease (long story). The point I'm getting to is that I ended up not paying for the disposition fee or the alleged damage as the dealer purchased the car from Infiniti after I returned it. Although I didn't know that at the time, I opted not to get the BMW coverage that was similarly decently priced. I got the tire/wheel protection and some sort of all surface coverage. There's a slight element of rolling the dice by not getting it, but there's always the option as well to purchase the suv if it got crazy.
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      05-08-2021, 10:39 AM   #8
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I mean, for me personally, $975 for lease end wear and tear as well as peace of mind is a pretty good deal compared to what I have been offered. I would probably take it even though I am very careful with my cars, the wife.. not so much.
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      05-08-2021, 11:21 PM   #9
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Quote:
Originally Posted by GG Pgh View Post
I'm new to the forum. I hope someone can help or share some guidance.
Going to lease a new x5 M50i (with 21 inch runflats).
I'm considering the lease-end protection plan, which they say covers any and all damage/scratches/dents / curbed wheels etc, as well as tires - at the time of lease end).
Started out at $1375 .... long story short I saw dealer cost (verified) at $875. They would include it for me at $975.
Worth it?
Thanks much.

GG
I just turned in my 2018 X5 50i and here are my thoughts:

1. I drove only 28k of 36k due to the pandemic and you don't get money back, which means to me it's probably cheaper to under budget miles depending how well you know your habits.

2. Someone drive into my rear bumper while parking and left the outline of their license plate on the rear bumper, through the paint. At most that would have cost me $100 at lease end according to the person that did the assessment.

3. That person also said no big deal to the small dent in the passenger door probably from yet another ass clown hitting it in a parking lot with theirs.

4. The original tires had 7mms left. Yeah that's right, I said original. No idea how I got lucky there. Regardless he said it was better to turn it in with bad tires because it's cheaper to pay the dealer than go anywhere else.

5. Lastly, and this was on a previous M4, I had the wheel and tire protection package because the streets of San Francisco are nearly 3rd world rough, and bent a rim once. The servicing dealer (not that same dealer as noted in 1-4 above) made it such a huge pain to get it replaced I had to threaten. Huge pain in the ass. Ended up not being worth the money for protection.

I ended up paying only $350+Tax to return my X5 but only paid that disposition fee because I wasn't immediately getting another BMW (plan was to wait until I started commuting again but just recently placed an order anyway).

I wouldn't pay upfront for the lease end protection as a result and before my X5 with previous BMWs the dealer wasn't very meticulous because I was getting another BMW.

I should not I don't abuse my cars. Take pretty good care of them. No little rugrat monsters to destroy anything either 😉 So that's another thing to consider too.
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      05-09-2021, 07:57 AM   #10
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7 mm left on original tires is absurd. Even if they are non-run flats that seems like a big number. I also don't know how you got there.
On my current x5 with Bridgestone Dueler run flats I'm lucky to get 12,000 or a bit more and at that point they don't pass state inspection (2/32 here). I realize that run flats run down faster.
At lease end they have to have 4/32 remaining. And I suspect the dealers "see" 3 before they see 4 somehow, mysteriously.
It's the tires that have me thinking the lease-end protection could have value.
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