So I finally was able to secure a solid deal (309/month) on an LT1 Camaro! However, due to this being my first time leasing I’m not sure if I should pay for the excess wear and tear package. It would be an additional $18/month. I only agreed to it since they told me if I change my mind, I can let them know tmrw and they’ll cancel it. Figured I’d ask to hear your thoughts on if it’s a good idea to pay for it or not, and if you typically buy it for your leases. Thank you!
For reference, for most of the work week, I typically use a company truck so I won’t be driving the Camaro everyday or putting a ton of miles on it. I expect to be able to stay well below my 12k/year limit. There’s also a somewhat likely chance i transfer out of the lease after a year or so, would having the excess wear and tear help or hinder a transfer?
If you’re single, take good care of your vehicle, park in end spots, and plan to transfer then denying excess wear and tear protection is a no brainer. The only time this would come up is at lease end and you may have already brushed your hands of the car at that point.
It wouldn’t incentive me personally to want to grab your transfer and make a steeper monthly payment. These coverage packages typically don’t cover the common expenses such as brakes and tires which will most likely be required after a hard 36k miles (it is a lease after all).
Two of my three most recent GM lease returns featured things like mismatched brand tires, a significant (and poorly touched up) door scratch and hail damage that was extensive in scope but minor in terms of actual “damage”. I wasn’t charged a penny for any of it. Obviously your mileage may vary, but my experience is that they are pretty lenient. I’d skip the protection based on my prior experiences.
XS wear coats $595 (are you sure it’s $18/mo?!) and covers up to $400 in mileage. GM traditionally is extremely lenient with damages, but I wouldn’t feel bad if I got the package.
Appreciate all the advice! I think I’ll end up taking it off then. I plan on babying the vehicle anyways so i should be returning/transferring it in great condition.
Also, I just choose the 12k just for peace of mind. I’ll most likely be switching to a new job in the near future so I went with the 12k in case my daily driving ends up increasing.
If you want to do it go for it do it. Enjoy the car to the fullest. However, i would check if you need to remove before lease turn in and weigh the cost of removing it since you getting a good price for it. Thats my opinion.
You getting clearly a sports car so that idea of not giving a shit is kind of …
