Should we buy any additional insurance offers by dealer?
 

Quick question for more experience Z owners/lovers!, do you guy recommend paying additional insurances offer by dealership, such as paint repair, dent zone, tire and rim coverage? When i picked up my 370Z 40th mod, the F&I guy offer some very tempting coverages but I turn them all down! did I make the right choice? Thanks

John

Scare Tactics! that's how they make money :tiphat:

:iagree:The Boogie man will get you!:bowrofl:

I purchased the tire and rim coverage and would highly recommend it if your Z has the Sport Package due to the replacement cost of the 19" Rays and Potenza tires. Dealer will try to sell it to you for $800 but you should be able to get it for around cost which is closer to $400. Well worth the $5-6 a month if you roll it into your loan.

On my previous Cayman S, I some how acquired a 3 inch bolt into the sidewall while driving on the interstate a week after I took delivery. It ruined the tire and rim, but because I had this coverage a new Classic Carrera rim and tire arrived a day later at the dealer with no hassles and zero involvement with my insurance company. Saved me around $1200 in the first week of ownership!

This coverage is also transferable with the vehicle if you trade or sell in the future. 36 months is the normal length of the policy, you can buy longer coverage if you desire. In my opinion, it's a smarter purchase than spending $800-1200 on a clear bra. Quality wax and a $12 roll of Road Wrap takes care of the bugs and rock chips if I go on a trip. Good luck with your new Z!

Thanks, I was thinking buying this option only but I told them I will make decision on Monday. I'm going to buy this coverage only since my is the 40th model, which has sport package as standard...thank again

the only option you want is gap insurance if you are financing longer than 4 years. You might check to see if your insurance company offers it first though.

Road Wrap? Sounds like something I'd be interested in. Any parts store have it? If not, where do I buy it?

Whatever youre thinking of buying, see if your regular insurance company already offers it. Like, I'm a HUGE fan of GAP insurance and think everyone should have it if there is a chance they will be upside down on a car (like most of us), but most insurance companies offer it for much cheaper than what you will pay at a dealer.

I think my insurance company charges <$10 a month

Hi-Step'n370Z, the site is Protective Film : New Car Paint Protection : Paint Protector : Automobile Paint Protection : BuyRoadWrap.com. Actually found out about this stuff from someone on this site. Comes in either a 6" or 18" roll.

The rim and tire warranty is the only thing I get at the dealer. I've had too many tire/wheel issues in the past to skip it, so it's worth it for my piece of mind. To others, probably not so much.

haha wow that road wrap stuff is pretty interesting...it's like saran wrap for your car

helps keep it fresh

The tire and wheel protection(Road hazard) is well worth it.

GAP insurance should be purchased no matter what the term of the loan is. In fact many banks are now making this a non-option to even be approved for the loan. And some states and insurance companies are requiring it as well.

I don't think my dealer ever mention Road Wrap, I'll ask them to see, I think i need this more because currently I live about 1 hr from work. I'll move in June and it will cut down to 7 mins! So I think Road wrap is good to have...

With all these sorts of coverages the chances are you will lose money in the long run if you always buy them. This is statistically certain -- otherwise they would not be a source of income for the companies who provide the coverage. With any sort of insurance think in terms of risk vs. cost vs. benefit -- you are willing to pay for medical coverage or automobile insurance because even though risk is low the cost of a serious medical condition or serious car accident is tremendous. But the cost benefit of fixing a scratch or small dent or a broken wheel or tire is quite different. Look at it this way, if the tire and rim insurance costs $400 and it costs $800 to replace the rim and tire, then you are paying 50% of the cost of the replacement. Now consider if the chances were a whopping 50% that you would lose one wheel and tire during the life of the insurance. So you are willing to bet $400 that you will win $400 (since the replacement will only cost the $400 you payed for the insurance. This is more or less even odds ... If you did this with every car you own, the chances are you'd break even in the long run. But, of course, the chances are way less than 50% that you will lose a tire and a wheel .... so draw you own conclusions

In general, these sorts of things are only a good idea for people who wouldn't have the cash to fix something that went wrong. They will end up paying more for the car and upkeep in the long run, but at least they can keep the car in working order

It's not buying the coverage, you have to see how good they are in honoring the coverage!

lol. Even if they honor it perfectly, you'll still lose out in the long run.

Look at it this way, if you can't afford to replace a wheel and a tire, then pay the $6 a month for 5 years.

If you can afford to replace a bad wheel and tire, then put the $6 a month in the bank. Maybe on this car or the next you'll go into the red -- have a tire/wheel repair bill greater than the money you put in the bank, but in the long run you will be in the positive.

Gap insurance and nothing else.
And when you reach a BE in the value of the car vs the amount due on your loan, call your dealer and tell them you want to cancel your gap insurance.

I don't know about gap insurance ... I guess it's the right call for some folk. I've always put enough down on my cars that I'm already past the break even point so I've never even considered it.

It's easy to invoke mathematics in decision theory -- deciding whether to buy optional insurance invokes this if only at the intuitive level, but I guess peace of mind is a variable that's hard to quantify

Should have bought my dent zone insurance, got door ding less than a week. d@mm whoever did this: look at my baby scar!