[BMWfan07]

I want to cancel the BMW tire and wheel insurance that I bought when I purchased my new car about 6 months ago. I contacted the dealership where I bought my car and spoke to the CA who sold me the car. He told me that if I cancelled the tire and wheel insurance that since my car is financed through BMW Financial, my payments would not go down as a result of the cancellation, and that BMW Financial would not apply the credit from cancelling the insurance until the term of the loan is complete (5yrs). They told me when I bought the car that this insuarnce would be cancellable at any time, but now they are telling me that I would continue to pay for the insurance in my monthly payments for the rest of my loan but I would not see the credit applied until the end. I question the veracity of the information I was told before and after the sale regarding this tire and wheel insurance and how it can be cancelled.

Does anyone have any experience with cancelling the tire and wheel insurance? and How was it handled if your car was financed??

[mr_milo]

I had a similar issue with an extended warranty on our Honda CR-V. Basically when i canceled the warranty they just credited my account. My payments didn't change but now 3 years later my car only has one more payment but in actuality I should have at least four more payments. Basically your account will get a credit which will reduce the length of the loan but your payments stay the same.

Hope this helps.

P.S. Depending on your credit, you can always refinance after wards and reduce your payment. My credit union gave me a loan that was 1% less with no fees. It was a no brainer on the BMW.

[tny662]

That sucks.... Tire Insurance is such a rip off. odds are very low, you will ever use it. and if you do is way cheaper finding one online.

[MKR_DmD]

They will just give you credit or money back and your payments won't change.

Discount/American Tire, best replacement plan out there.

[hugus311]

go to finance dept at dealership with contract and they issue prorated credit by check in mail.

[BMWfan07]

Originally Posted by hugus311

go to finance dept at dealership with contract and they issue prorated credit by check in mail.

they will issue a check even if my car is financed through BMW financial services?

maybe i should call BMW financial services because I think the dealership will give me the run around.

[hugus311]

Originally Posted by BMWfan07

they will issue a check even if my car is financed through BMW financial services?

maybe i should call BMW financial services because I think the dealership will give me the run around.

that is how i canceled mine. DONT GO TO SERVICE OR SALES JUST GO TO FINANCE.
I've done it, tire insurance is a scam for most except a very select few.

[BlackedOutBimmer]

I'm actually about to cancel my tire/wheel insurance as well, funny I came across this thread.

On the back of my contract it says they will "issue me a check" or "adjust my payments" but I am nervous as too how exactly to go about this as to not get screwed.

I'd LOVE for them to just cut me a check and not change my payments but how do they determine how they reimburst you?

If they credit my monthly payments that is OK too I guess, I just don't want to wait until my car payments are over to be credited. I did finance through BMW...

[hugus311]

On the back of my contract it says they will "issue me a check" or "adjust my payments" but I am nervous as too how exactly to go about this as to not get screwed

The dealer has already been paid, so you just get refunded a check in the mail for the prorated time left on your contract. no adjustment of payments or anything crazy

[sanman4618]

I would suggest that you keep the insurance unless you drive on some of the best roads in the world. I have run flats and of course they are expensive. Last week I hit a nasty pot hole and needed a new front tire along with one of my rear tires having a nail in it. I used my insurance when at the BMW dealership and when I picked my car up my bill was $0 for the replacement of 2 tires. It has already paid for itself and I couldn't be happier.

[BlackedOutBimmer]

Originally Posted by sanman4618

I would suggest that you keep the insurance unless you drive on some of the best roads in the world. I have run flats and of course they are expensive. Last week I hit a nasty pot hole and needed a new front tire along with one of my rear tires having a nail in it. I used my insurance when at the BMW dealership and when I picked my car up my bill was $0 for the replacement of 2 tires. It has already paid for itself and I couldn't be happier.

Trust me, I bought the wheel/tire warranty and thought it was a great idea.

I still do, since I live in PA, and the roads here are AWFUL. I wish for CA or FL raods all the time...

but...

I am getting aftermarket wheels/tires and non-RFT's... no point in keeping the stock wheel insurance. Seems like the warranty is "transferable" to another person... wonder if I can transfer to aftermarket wheels? hmm.


I hope the just send me a check, it will help speed up the process of getting some aftermarket 19s on my car

[sanman4618]

Originally Posted by AllBlackBimmer

Trust me, I bought the wheel/tire warranty and thought it was a great idea.

I still do, since I live in PA, and the roads here are AWFUL. I wish for CA or FL raods all the time...

but...

I am getting aftermarket wheels/tires and non-RFT's... no point in keeping the stock wheel insurance. Seems like the warranty is "transferable" to another person... wonder if I can transfer to aftermarket wheels? hmm.


I hope the just send me a check, it will help speed up the process of getting some aftermarket 19s on my car

I'm from florida and live here in DC temporarily and the roads here are crappy, uneven, and filled with potholes. I'm ready to get my car back down to florida where the roads are very smooth. I feel bad for you northern guys because I don't see how your cars don't have bent rims after 1 year.

[hugus311]

Originally Posted by AllBlackBimmer

Trust me, I bought the wheel/tire warranty and thought it was a great idea.

I still do, since I live in PA, and the roads here are AWFUL. I wish for CA or FL raods all the time...

but...

I am getting aftermarket wheels/tires and non-RFT's... no point in keeping the stock wheel insurance. Seems like the warranty is "transferable" to another person... wonder if I can transfer to aftermarket wheels? hmm.


I hope the just send me a check, it will help speed up the process of getting some aftermarket 19s on my car

the insuarance cover any wheels that are on it at the time of incident

[BlackedOutBimmer]

Originally Posted by hugus311

the insuarance cover any wheels that are on it at the time of incident

you know what... the more i read the back on my contract the more I think you are right...

On the front it just lists the year/make/model of my car. does not mention which wheels are on it OR which tires are on it. Does not mention ONE THING about run flat tires.

Now, I guess they can call the dealership to verify which wheels my car came with when I bought the warranty, however that seems like a lot of work.



If this is true, if I get some aftermarket 19"s with non-RFT performance tires and my wheel/trie gets ate by a PA pothole... they will replace my aftermarket wheel/tire?

If this is true.. well.. I may not cancel it after all... seems somewhat worth it then since I already paid for it...

[RmattBMW]

As contracts may vary, check yours. I scanned the QR code to get to the FULL terms and conditions and was surprised to see what I think is an allowance for after market tires as long as they meet specs.

Other than carbon fiber wheels and magnesium wheels, replacement or aftermarket tires and wheels that are the same diameter as the damaged OEM tire and/or wheel will be covered for the Agreement Term. Any replacement or aftermarket tires or wheels failing to meet the Covered Vehicle’s manufacturer’s specifications are excluded from coverage.

Originally Posted by AllBlackBimmer

Trust me, I bought the wheel/tire warranty and thought it was a great idea.

I still do, since I live in PA, and the roads here are AWFUL. I wish for CA or FL raods all the time...

but...

I am getting aftermarket wheels/tires and non-RFT's... no point in keeping the stock wheel insurance. Seems like the warranty is "transferable" to another person... wonder if I can transfer to aftermarket wheels? hmm.


I hope the just send me a check, it will help speed up the process of getting some aftermarket 19s on my car