Excess Wear & Tear and Wheel & Tire coverage

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1

I had a question on Excess Wear & Tear

I am looking into leasing a Toyota Tundra.

I spoke to my insurance company already, and they will do the GAP insurance at $50 a year.

Which leaves me with questions on pricing and coverage on Excess Wear & Tear and the Wheel & Tire coverage.

For Excess Wear & Tear, I was looking at the Toyota website, and it says the following:

“The Excess Wear & Use Protection Plan is available only when you lease your new or Certified Used Toyota, and only at time of lease inception. The Toyota Financial Services Excess Wear & Use Protection Plan is not available in all states. See your Toyota dealer for more information. Plan is only available on leases through your Toyota dealer and Toyota Financial Services based on approved credit. Please see your Excess Wear & Use Protection Lease Addendum for full details on terms, limitations and exclusions. The plan must coincide with the lease agreement term, and is available for lease terms up to 60 months.”

If I lease through US Bank, the Toyota Excess Wear & Use Protection says it only covers leases through Toyota Financial Services. Which means it won’t help me with a US Bank lease based on their language.

Is this a coverage that can be shopped for on the outside?

2

I believe US bank offers their own coverage.

3

Doesn’t US Bank include gap? Tire and wheel on a tundra seems needless, there’s so much Toyota stuff on Craigslist extra, maybe consider wear and tear since it’s USB. Where’s your deal, don’t see anything posted…

1 Like
4

From what I see, you have to opt in to purchase wear and tear warranty through the dealership. I don’t think US Bank offers it.

5

It does include GAP, if you are fully insured.

6

Looks like you’re correct.