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Discussion Starter · #1 ·
Just soliciting some feedback from members on here. Was offered the Platinum Protection Plan for 60 months at $4100…did anyone buy or consider these protections? Covers wheels, tires, curbing, windshield, keys and dents…thought???
 

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Just soliciting some feedback from members on here. Was offered the Platinum Protection Plan for 60 months at $4100…did anyone buy or consider these protections? Covers wheels, tires, curbing, windshield, keys and dents…thought???
Do a cost benefit on it. How many rims have you killed in your life and how frequently? How much does it cost to buy a replacement rim? What does it protect you from that regular insurance doesn't? If you were in an accident and damaged your wheels, surely your existing insurance would cover that. Tires are a wear item and easily replaced. It honestly sounds like something the dealer dreams up to extort extra money but I'm curious to hear others' perspective.
 

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Discussion Starter · #3 ·
Do a cost benefit on it. How many rims have you killed in your life and how frequently? How much does it cost to buy a replacement rim? What does it protect you from that regular insurance doesn't? If you were in an accident and damaged your wheels, surely your existing insurance would cover that. Tires are a wear item and easily replaced. It honestly sounds like something the dealer dreams up to extort extra money but I'm curious to hear others' perspective.
All great points…you made me think and you possibly saved me a few bucks…..thank you!
 

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Discussion Starter · #4 ·
Do a cost benefit on it. How many rims have you killed in your life and how frequently? How much does it cost to buy a replacement rim? What does it protect you from that regular insurance doesn't? If you were in an accident and damaged your wheels, surely your existing insurance would cover that. Tires are a wear item and easily replaced. It honestly sounds like something the dealer dreams up to extort extra money but I'm curious to hear others' perspective.
CH,

I had a discussion with my financial planner today about other stuff and he asked about the 911. I shared the info on the protection plans and he said he has a VERY large client who owns 10 car dealerships. His client makes a TON of money on these products but people FEEL better when they purchase them. Thats all I had to hear…I’ll pass and thanks for your assessment!

BG
 

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CH,

I had a discussion with my financial planner today about other stuff and he asked about the 911. I shared the info on the protection plans and he said he has a VERY large client who owns 10 car dealerships. His client makes a TON of money on these products but people FEEL better when they purchase them. Thats all I had to hear…I’ll pass and thanks for your assessment!

BG
SHORT ANSWER : If you can afford to replace what is lost when it is NOT insured, then you do NOT need to purchase insurance.

When I bought my last Boxster, a CPO with very little mileage, the dealer wanted to sell me the 2 year "extended warranty" for 5K (CND). I refused condidering the possibility of a catastrophic internal mechanical damage not likely and knew I could handle a little bad luck. I drove the car for 5 years with only normal maintenance expenses...and saved 5K! :) Then I sold it last fall almost the same price I paid for it but that's another story...

I sincerly believe that you don’t need insurance for events that won’t strain your finances

Now, maybe your financial planner could convince me to retire before 65! LOL! Mine says I could, but should I? Decisions, decisions...😅
 

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Discussion Starter · #6 ·
SHORT ANSWER : If you can afford to replace what is lost when it is NOT insured, then you do NOT need to purchase insurance.

When I bought my last Boxster, a CPO with very little mileage, the dealer wanted to sell me the 2 year "extended warranty" for 5K (CND). I refused condidering the possibility of a catastrophic internal mechanical damage not likely and knew I could handle a little bad luck. I drove the car for 5 years with only normal maintenance expenses...and saved 5K! :) Then I sold it last fall almost the same price I paid for it but that's another story...

I sincerly believe that you don’t need insurance for events that won’t strain your finances

Now, maybe your financial planner could convince me to retire before 65! LOL! Mine says I could, but should I? Decisions, decisions...😅
Thats so funny…bought my 2014 Boxster and same situation….refused everything. Car ran like a top and like you getting great money for the trade, timing is everything. As far as retirement, I also had a perfect storm to leave corporate bullshit at 55 and never looked back. Picked up a part time job 2 days a week to stay busy while the bride keeps working but will walk next June. There’s an old saying that says, “No one on their death bed ever said…I should have spent more time at work!” You’ll make the right decision. BG
 
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