Tire and Rim Protection

[mis3]

My friend is getting a new Honda and he is considering to buy the Honda Tire and Rim Protection. It is almost $600CAN for 5 Years.
He lives in Montreal where the roads are bad.
He is under the impression that every time he damaged a tire, Honda would replace it. He figured he would make the money back if he has 2 damaged tires or wheels.

Hoe does this Tire and Rim Protection work? It is too good to be true if they replaced the tires or wheels every time. What if he has 5 damaged tires or wheels in the course of 5 years?

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[gxl]

When I purchased mine at the time, it was much more expensive. In the end though, both ended up paying for itself.

My guess is that they can make money off of the financing portion. Make sure you read the fine print though.

 

[casper]

Statistically, these things aren’t worth it, unless it would actually bankrupt you if you had to front the expense. The fact that there’re a lot of stipulations is also a turn-off.

This is why car insurance is “good”, and AppleCare is “bad”.

 

[Chilly613]

I tried looking it up to find details on this from Honda, seems like its dealer specific, because it looks different for each dealer's site I've viewed their Tire and Wheel protection package. To me its not worth it, I end up going with aftermarket wheels on most of my cars, plus depending on your car insurance and coverage it may cover wheel and tire damage.

 

[mis3]

I may have to call Honda Canada for this.
Maybe they pay only once. It is too good to be true if they will pay all the tires and wheels replacements for 5 years. One tire is $300 and each OE wheel is $500 (all in CAD). I never “broke” a wheel but have had a few curb rashes. I can’t imagine that the dealership would repair all of them.

Insurance may cover the replacement but we all have deductible of $500 or even $1000.

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