First Class Lease Protection questions. URGENT
05-23-2015, 01:17 AM
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2015 BMW 428i Coupe
First Class Lease Protection questions. URGENT
Hi All,
I am about to lease a C300 within the next 24hrs. I just want some information on the First Class Lease Protection.
Is it worth it? If not, any other protection plans you recommend over this?
Is the price I pay for it negotiable? What is a good price to pay for it?
Do you recommend paying it up front or adding it as a part of the monthly lease payment?
Thanks for your responses!
I am about to lease a C300 within the next 24hrs. I just want some information on the First Class Lease Protection.
Is it worth it? If not, any other protection plans you recommend over this?
Is the price I pay for it negotiable? What is a good price to pay for it?
Do you recommend paying it up front or adding it as a part of the monthly lease payment?
Thanks for your responses!
05-23-2015, 02:04 AM
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Mercedes C300
In my honest opinion (and my view), this was useless (for me), and hence I avoided. If you're the type of driver who is prone to multiple scratches, dings etc. then yes, this is useful. Otherwise, in terms of body / exterior damages lights scratches or dings that can be covered with a credit card are part of wear and tear.
Personally, I find comprehensive and collision coverage sufficient, combined with GAP insurance, to be the most useful as it insures me against "my perceived" worst case scenarios, such as, accidents (major and minor). However, everyone's circumstance is different - some people perhaps couldn't care less and are carefree drivers and accumulate paint marks, dents, scratches etc. -- Naturally, for such folks, it's not feasible to report each ding and dent to insurance, nor will the dealership be willing to take such a vehicle back at the end of the lease. So, you're the best judge of your driving records.
I'm on my second lease and had no issues or excess wear and tear when returning previous car, but then I'll always visit the dealer for multi-point inspections (I am not going off topic, please allow me to finish) and car washes once every month - 3 months, and have developed a rapport with the dealership and service folks - They know I am very nit picky about my car and in keeping it clean, and they observe it's condition throughout the years prior to returning at the end of the lease.
Moreover, it is not also necessarily limited to how you drive, but where you drive to etc. My sister bought (financed) the same vehicle as me, but she first class paint protection as she is cognizant of folks in downtown LA scratching, damaging with keys etc.
Long story short, comprehensive and collision + GAP is key and works best for me. I park indoors and based on my driving style and surrounding characteristics, I don't feel I need additional protection for excess wear and tear.
At the very least, if you do decide to purchase first class lease protection, ask them about cancellation and refund policy - I know with maintenance, my dealer had mentioned to me I had 30-60 days to cancel prepaid maintenance, and the refund would be applied to my lease payments (so, wouldn't get a check in the mail). In effect, if you want to sign up and decide if you want to keep or cancel, ask your dealer if there is this option.
Often times finance managers and dealers will want to push you and twist your arm - keep calm and carry on
Personally, I find comprehensive and collision coverage sufficient, combined with GAP insurance, to be the most useful as it insures me against "my perceived" worst case scenarios, such as, accidents (major and minor). However, everyone's circumstance is different - some people perhaps couldn't care less and are carefree drivers and accumulate paint marks, dents, scratches etc. -- Naturally, for such folks, it's not feasible to report each ding and dent to insurance, nor will the dealership be willing to take such a vehicle back at the end of the lease. So, you're the best judge of your driving records.
I'm on my second lease and had no issues or excess wear and tear when returning previous car, but then I'll always visit the dealer for multi-point inspections (I am not going off topic, please allow me to finish) and car washes once every month - 3 months, and have developed a rapport with the dealership and service folks - They know I am very nit picky about my car and in keeping it clean, and they observe it's condition throughout the years prior to returning at the end of the lease.
Moreover, it is not also necessarily limited to how you drive, but where you drive to etc. My sister bought (financed) the same vehicle as me, but she first class paint protection as she is cognizant of folks in downtown LA scratching, damaging with keys etc.
Long story short, comprehensive and collision + GAP is key and works best for me. I park indoors and based on my driving style and surrounding characteristics, I don't feel I need additional protection for excess wear and tear.
At the very least, if you do decide to purchase first class lease protection, ask them about cancellation and refund policy - I know with maintenance, my dealer had mentioned to me I had 30-60 days to cancel prepaid maintenance, and the refund would be applied to my lease payments (so, wouldn't get a check in the mail). In effect, if you want to sign up and decide if you want to keep or cancel, ask your dealer if there is this option.
Often times finance managers and dealers will want to push you and twist your arm - keep calm and carry on
