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      04-22-2014, 09:23 AM   #1
rjdoc74
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Safe lease?

I am thinking about getting a safe lease policy with my lease which I am signing tomorrow. What so you guys think about it? What's a good price for 2014 M5? Thanks!
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      04-22-2014, 09:36 AM   #2
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What's a safe lease? Are you talking about gap insurance?
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      04-22-2014, 10:05 AM   #3
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No, insurance that covers damage etc at the lease end. I heard on expensive cars it may be worth it.
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      04-22-2014, 11:11 AM   #4
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Quote:
Originally Posted by rjdoc74
No, insurance that covers damage etc at the lease end. I heard on expensive cars it may be worth it.
Been leasing BMWs, Porsches and others for a long time and have never heard of it.

Wouldn't buy it even if offered. Lease turn in is pretty easy with BMW and they are pretty lenient of what is allowable.
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      04-22-2014, 11:20 AM   #5
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Safe lease even covers completely bold tires and other damage up to $5000.


http://www.bimmerfest.com/forums/sho...d.php?t=718566
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      04-22-2014, 01:43 PM   #6
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You have to try to predict what level of "damage payment" you might have and what the likelihood of that is and then compare that to the cost of the coverage. At the end of the day, they are running a (hopefully) profitable business, which means the amount of premiums collected have to exceed the amount of claims paid plus all other costs of running their business. So, they have also done the math and calcualted a rate that will, on a macro level, at least cover the damages the expect to have to pay for. Of course, if you are risk averse, you may want to pay that premium to avoid a potentially larger expense. But that really is the same with all forms of insurance, the only question is how much that comfort costs you.

I own my cars, but have leased in the past and do lease my wife's MBs (or should I say her business does) and combining all 8-10 leases over my life, I have paid exactly $0 in lease-end damages. A couple of times I had some smaller things fixed by a local shop pretty cheaply right before turn in. Also, I don't know about BMWFS, but MB Financial waives the first $500 in charges as a loyalty gesture provided you are getting into a new MB.
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      04-22-2014, 06:03 PM   #7
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Quote:
Originally Posted by rjdoc74 View Post
Safe lease even covers completely bold tires and other damage up to $5000.


http://www.bimmerfest.com/forums/sho...d.php?t=718566
You are the people that make these people lots of money. Just pick up your car and drive the hell out of it and enjoy it. Don't worry about a scratch on your bumper in 2017
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      04-22-2014, 06:20 PM   #8
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Quote:
Originally Posted by rjdoc74 View Post
Safe lease even covers completely bold tires and other damage up to $5000.


http://www.bimmerfest.com/forums/sho...d.php?t=718566
The salesperson in that thread says he regularly sees lease end damage fees of $1500-3000. If that's truly the average in damages his dealership charges to its customers, his customers should find another dealer. That's way outside the norm for people who take decent care of their leased car.
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      04-22-2014, 09:48 PM   #9
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That "Salesperson" is the best CA in the USA hands down!! I have been dealing with him for 10 years. The Dealer does not charge anything, BMWFS does. The dealer just completes the check in. When the car is returned to BMWFS, they decide if they are going to bill you anything. My cars are always perfect so I never pay anything. I have a friend who brings back his cars trashed, and the charges are legit. The prices BMWFS Charges are usually fair, and sometimes lower than if you fixed it prior to returning the car.
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      04-25-2014, 02:12 AM   #10
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I WAS told at the dealer that starting july 1st of 2014. They are going to have a guy who works with bmw north America not the dealer check your lease return so they will nickel and dime you for all the problems, maybe it was a lie for us to buy a coverage but I DId not buy it. Is this true?
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      04-25-2014, 08:13 AM   #11
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I am not sue how that would change anything. Alth that would do is move the inspection time and place. No reason to conclude that BMW would change its standards and threshholds.
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      04-25-2014, 09:56 AM   #12
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Quote:
Originally Posted by SSM5 View Post
That "Salesperson" is the best CA in the USA hands down!! I have been dealing with him for 10 years. The Dealer does not charge anything, BMWFS does. The dealer just completes the check in. When the car is returned to BMWFS, they decide if they are going to bill you anything. My cars are always perfect so I never pay anything. I have a friend who brings back his cars trashed, and the charges are legit. The prices BMWFS Charges are usually fair, and sometimes lower than if you fixed it prior to returning the car.
My own experience tells me the figures in that thread are exaggerated. And of course your "friend" (see i can quote random words too) is going to get hammered if he brings his cars back trashed. Most people don't bring back trashed cars.
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      04-25-2014, 12:47 PM   #13
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So I picked up my car Wednesday and decided against W and T and safe lease options. I bought T and W for my 2011 X5D and it has not been worth it so far after 4 years. I replaced 2 tires for a total cost of ~700 and paid 1000 for the coverage. Maybe because I live in CA... So I decide to self insure on this one. I may be sorry. We will see....
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