Lease Protection Plan

[bearct]

So I recently struck a deal for MB 2014 B Class for $4k down and $239 (inc. tax) --> 10k miles / yr
(This may not be the best deal but I took it - hindsight may be a mistake)

The dealer offered me MB First Class Lease Protection plan for $1049 + Tax
They claim it will cover all expenses when I go back to return the car upto $7.5k
(inc. dents, damage, brake pad, impact of tire wear etc..)
a) Is this a good thing to buy
b) Is the price accurate ?

In addition, maint. plan for 3 years cost me $900 - Is it a rip off ?

I purchased it as I could cancel it anytime afterwards for no fee.

 

[wtzouris]

I would not take the maintenance plan -- the car will need next to nothing in 3 yrs/30k miles. Just wiper fluid, and keep the tires properly inflated, maybe buy another set of tires at 20-25k. (The car is heavy and the tires are run-flats, which wear faster) The "lease protection" is up to you. If you park on the street and expect your front and rear bumpers to get scuffed and scratched in an urban setting then maybe. But I would personally rather pay later -- 3 years is a long time -- other things could happen to the car, unforeseen things, like accidents that total the car, lemon buybacks, re-calls, fender benders, etc. and you might forget to get your unused portion of the "lease protection" back. And your car insurance will cover damage above $500-1000 if it is related to an accident.

 

[JeffRay]

I agree with wtzouris to skip the maintenance plan. Not a lot of upside there. I did get the bumper, tire, tire rim plan. In NYC, the potholes can ruin a rim with one good jolt. Already, I had a nail in the edge of the run flat tires. MB said they did not recommend a plug in that location and replaced the tire for a total cost of $50. I did not get the two higher priced plans of which yours is one. The plan I picked was added to my monthly lease rate. I think it was $36 or so a month for 36 months.