Tire and wheel protection plans - worth it?

[Elisimo]

Hi Lotus gang. What are your opinions on tire and wheel protection plans? I just picked up an 08 Elise at Criswell in Maryland. They offered me a five-year plan from Maximus Auto Group for $525, which I said I would consider. Go for it or not, what do you think? Searched the forum but this newbie couldn't find what he was looking for. Thanks.

[CrusaderTBC]

Originally Posted by Elisimo

Hi Lotus gang. What are your opinions on tire and wheel protection plans? I just picked up an 08 Elise at Criswell in Maryland. They offered me a five-year plan from Maximus Auto Group for $525, which I said I would consider. Go for it or not, what do you think? Searched the forum but this newbie couldn't find what he was looking for. Thanks.

considering the short life of the tires, I'd say no.

[Green Ghost]

If they “cover” you for five years worth of tires I would say go for it big time, but I don’t think that’s what the protection plan will do.

NO WAY would I get a long term protection plan on tires like these. They don’t last long enough to be worth it.

[perryeyges]

It's just an insurance policy. If you like the coverage then get it if not walk away. You can negotiate on this sort of thing as well as it is just a source of revenue for the finance dept guy. Hey he has to make a living too..
Just don't get it because you feel pressured into it. You did the right thing in saying let me do my due dilligence and I'll get back to you.. Some things the Finance guys sell are good and some are not so good depending on the customer.
Just make sure your current car insurance company doesn't already have you covered(people pay for double coverage all the time and don't even know it) and check to see how easy or difficult it is to collect if you later have a claim.

[RoadDad]

What exactly is being covered under the plan for the tires and the wheels? Read the fine print extremely carefully. Do not take the saleperson's "it covers everything" as true.

[kjd1231]

I have never seen a plan that covers normal wear. If it did, I'd be all over it. How many wheels do you need to curb before it has paid for itself?

[RoadDad]

That depends on whether they replace or repair the curbed wheel and how they would repair it. A little sandpaper and some touch up paint would take a lot of curbing to get your money's worth.

[CK_lotus]

As stated before, since the tires don't last that long--- don't bother.

As far as the wheels are concerned, you can always pick up a used set for $1000-1500. I say not worth it but if it makes you feel "protected" then do it... just read the fine prints few times over.

[Elisimo]

Thanks to all who responded. I think I'll pass on the protection plan and won't be calling the finance guy back, but will merely keep my fingers crossed. Great forum, happy to be on board and even more happy, of course, with my new ride.