Did anyone get BMW Anti Theft?

zambarossa · 10-21-2021, 09:24 AM

They added it to my car last minute and I accepted it, but debating whether to keep it. My insurance does not give additional discounts for it, but BMW guarantees 5000 towards a new car (off MSRP) is the car is irrecoverable.
Wondering what others think or have done with this.

KnightedBMW · 10-21-2021, 09:26 AM

I don't even know what that is.

zambarossa · 10-21-2021, 09:29 AM

Quote:

Originally Posted by KnightedBMW

I don't even know what that is.

https://www.bmw.ca/en/topics/details...-products.html

NightWriter · 10-21-2021, 10:13 AM

I wonder if that's a Canadian-only thing, since I've never heard of it.

Either way, from the description that sounds like a separate theft insurance policy (rather than any kind of active monitoring / tracking system). I doubt it's worth the expense/deductibles, unless it's super-cheap.

dubzz24 · 10-21-2021, 10:18 AM

Sounds like it's the Finance department trying to make some extra $ off you. Similar to dealerships offering underbody sprays, extended warranties, tire and rim warranties etc.

I'd pass. I'd also be pissed if they added it on there without discussing it with you.

zambarossa · 10-21-2021, 11:29 AM

Quote:

Originally Posted by NightWriter

I wonder if that's a Canadian-only thing, since I've never heard of it.

Either way, from the description that sounds like a separate theft insurance policy (rather than any kind of active monitoring / tracking system). I doubt it's worth the expense/deductibles, unless it's super-cheap.

465+tax for 36 months

zambarossa · 10-21-2021, 11:31 AM

Quote:

Originally Posted by dubzz24

Sounds like it's the Finance department trying to make some extra $ off you. Similar to dealerships offering underbody sprays, extended warranties, tire and rim warranties etc.

I'd pass. I'd also be pissed if they added it on there without discussing it with you.

They kinda snuck it in last minute, but I can cancel within 30 days. Debating if I should.

kjx · 10-21-2021, 11:58 AM

Quote:

Originally Posted by zambarossa

Quote:

Originally Posted by dubzz24

Sounds like it's the Finance department trying to make some extra $ off you. Similar to dealerships offering underbody sprays, extended warranties, tire and rim warranties etc.

I'd pass. I'd also be pissed if they added it on there without discussing it with you.

They kinda snuck it in last minute, but I can cancel within 30 days. Debating if I should.

Statistically, you are not going to get anything out of it. It is pure profit for the dealership.

zambarossa · 10-21-2021, 12:16 PM

Quote:

Originally Posted by kjx

Statistically, you are not going to get anything out of it. It is pure profit for the dealership.

Agree, they implied it was required and I did not feel like arguing. Will sleep on it and cancel next week unless someone convinces me it is a good idea to keep.

NightWriter · 10-21-2021, 12:35 PM

Your auto insurance already covers you for theft, so with your $465 payment you're basically wagering there's a 10% chance your car will get stolen and not recovered. Unless you park your car near Tijuana on a regular basis, I'd say that's very unlikely. Waste of money, IMHO.

mn_bmw · 10-21-2021, 02:21 PM

this sounds like GAP coverage. I always decline

Mraceguy · 10-21-2021, 04:41 PM

I was offered it when signing the paper work. I refused it along with other packages they were trying to sell. That's how they make their money by selling you a bunch of crap which you have a rare chance of using.

edofloat · 10-21-2021, 04:44 PM

Quote:

Originally Posted by mn_bmw

this sounds like GAP coverage. I always decline

Yes sounds like GAP and for some it is needed and other finance products like 4n1.

808G80 · 10-22-2021, 01:24 AM

Quote:

Originally Posted by zambarossa

Quote:

Originally Posted by KnightedBMW

I don't even know what that is.

https://www.bmw.ca/en/topics/details...-products.html

I'm a finance manager at a dealership. Looks like GAP insurance. It will pay off the difference of your loan that your insurance won't cover in the event that your car gets totaled or stolen. Never heard about getting a new car with $5000 off of MSRP. I will only offer gap if the customer is rolling over negative equity or if they're putting nothing down for the loan.

TripleTeez · 10-23-2021, 08:36 AM

Quote:

Originally Posted by 808G80

I'm a finance manager at a dealership. Looks like GAP insurance. It will pay off the difference of your loan that your insurance won't cover in the event that your car gets totaled or stolen. Never heard about getting a new car with $5000 off of MSRP. I will only offer gap if the customer is rolling over negative equity or if they're putting nothing down for the loan.

Not sure how long you've been in Finance; However, SkyLink, KAHU, and LoJack all offer a similar program and are sold at 90% of dealers. The $5,000 is towards a purchase of a new vehicle if your stolen car has not been recovered in 30 days.

BGM-M3COMP · 10-23-2021, 08:43 AM

I have always LOVED going into the finance guys office after finalizing the deal with the salesman.

They ALWAYS try to scare you with what if's to make you add stuff to your car. All i do is say, NOPE! "but wait, in the event that........", NOPE!!

"you sure? because it's only three......." NOPE!!!!

"ok"

I can't wait to do that again when i pick up the M3 lol.

jimbethesda · 10-23-2021, 10:45 AM

Quote:

Originally Posted by edofloat

Quote:

Originally Posted by mn_bmw

this sounds like GAP coverage. I always decline

Yes sounds like GAP and for some it is needed and other finance products like 4n1.

If it's needed, they should really rethink their purchase.

AndroidRobot · 10-23-2021, 11:05 AM

Quote:

Originally Posted by 808G80

Quote:

Originally Posted by zambarossa

Quote:

Originally Posted by KnightedBMW

I don't even know what that is.

https://www.bmw.ca/en/topics/details...-products.html

I'm a finance manager at a dealership. Looks like GAP insurance. It will pay off the difference of your loan that your insurance won't cover in the event that your car gets totaled or stolen. Never heard about getting a new car with $5000 off of MSRP. I will only offer gap if the customer is rolling over negative equity or if they're putting nothing down for the loan.

An honest finance manager? That would be a first. What brand do you work for?

edofloat · 10-23-2021, 11:07 AM

Quote:

Originally Posted by jimbethesda

If it's needed, they should really rethink their purchase.

It may make sense in the current market if somebody financed every penny, especially if they can get .9%. Just protecting ROR and exercising loss control. Just because gap may be needed has no bearing on everyone's financial situation.

edofloat · 10-23-2021, 11:09 AM

Quote:

Originally Posted by AndroidRobot

An honest finance manager? That would be a first. What brand do you work for?

In some states if gap is clearly not needed, it is not legal to sell them gap.

jimbethesda · 10-23-2021, 11:55 AM

Quote:

Originally Posted by edofloat

Quote:

Originally Posted by jimbethesda

If it's needed, they should really rethink their purchase.

It may make sense in the current market if somebody financed every penny, especially if they can get .9%. Just protecting ROR and exercising loss control. Just because gap may be needed has no bearing on everyone's financial situation.

If someone feels like they need to insure against a remote chance of a $5,000 expense, they should really rethink their new car purchase. Especially if we're talking about an $80k+ car. But, that's just my opinion.

I have $3,000 deductibles on all my cars. I used that premium savings to get a $6MM umbrella liability policy.

I want insurance to cover large losses, not a few thousand dollars.

edofloat · 10-23-2021, 12:02 PM

Quote:

Originally Posted by jimbethesda

If someone feels like they need to insure against a remote chance of a $5,000 expense, they should really rethink their new car purchase. Especially if we're talking about an $80k+ car. But, that's just my opinion.

I have $3,000 deductibles on all my cars. I used that premium savings to get a $6MM umbrella liability policy.

I want insurance to cover large losses, not a few thousand dollars.

You're right very unlikely that that would ever payback anyway. Some just don't think that way though.

10-21-2021, 09:24 AM	#1
zambarossa Vault Dweller 704 Rep 577 Posts Drives: 2021 M3 6MT (Dravit/KO/ZPP) Join Date: Apr 2014 Location: Ottawa, ON iTrader: (1)	Did anyone get BMW Anti Theft? They added it to my car last minute and I accepted it, but debating whether to keep it. My insurance does not give additional discounts for it, but BMW guarantees 5000 towards a new car (off MSRP) is the car is irrecoverable. Wondering what others think or have done with this.
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10-21-2021, 09:26 AM	#2
KnightedBMW Lieutenant Colonel 2347 Rep 1,751 Posts Drives: 2022 M3C Join Date: May 2016 Location: Florida iTrader: (0)	I don't even know what that is.
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10-21-2021, 10:13 AM	#4
NightWriter Colonel 4844 Rep 2,744 Posts Drives: G80 M3 Pure Join Date: Jun 2015 Location: Maryland iTrader: (0)	I wonder if that's a Canadian-only thing, since I've never heard of it. Either way, from the description that sounds like a separate theft insurance policy (rather than any kind of active monitoring / tracking system). I doubt it's worth the expense/deductibles, unless it's super-cheap. __________________
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10-21-2021, 10:18 AM	#5
dubzz24 Private First Class 117 Rep 147 Posts Drives: 2022 M3 Comp xDrive Join Date: Mar 2012 Location: Vancouver, BC iTrader: (0)	Sounds like it's the Finance department trying to make some extra $ off you. Similar to dealerships offering underbody sprays, extended warranties, tire and rim warranties etc. I'd pass. I'd also be pissed if they added it on there without discussing it with you.
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10-21-2021, 12:35 PM	#10
NightWriter Colonel 4844 Rep 2,744 Posts Drives: G80 M3 Pure Join Date: Jun 2015 Location: Maryland iTrader: (0)	Your auto insurance already covers you for theft, so with your $465 payment you're basically wagering there's a 10% chance your car will get stolen and not recovered. Unless you park your car near Tijuana on a regular basis, I'd say that's very unlikely. Waste of money, IMHO. __________________
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10-21-2021, 02:21 PM	#11
mn_bmw Private 71 Rep 53 Posts Drives: 2021 M3 Manual RWD Join Date: Oct 2015 Location: Minneapolis, MN iTrader: (0)	this sounds like GAP coverage. I always decline
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10-21-2021, 04:41 PM	#12
Mraceguy Private First Class 114 Rep 104 Posts Drives: G80 M3 Join Date: Oct 2021 Location: Woodlands iTrader: (0)	I was offered it when signing the paper work. I refused it along with other packages they were trying to sell. That's how they make their money by selling you a bunch of crap which you have a rare chance of using.
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10-23-2021, 08:43 AM	#16
BGM-M3COMP The Ben Shapiro of this place. I never lose! LOL 2328 Rep 3,021 Posts Drives: 12 plaids on order Join Date: Aug 2021 Location: Tesla Land iTrader: (0) Garage List 2022 BMW M3 COMP [0.00]	I have always LOVED going into the finance guys office after finalizing the deal with the salesman. They ALWAYS try to scare you with what if's to make you add stuff to your car. All i do is say, NOPE! "but wait, in the event that........", NOPE!! "you sure? because it's only three......." NOPE!!!! "ok" I can't wait to do that again when i pick up the M3 lol.
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