Don't Waste Your Money: Gap insurance for auto loans

Don't Waste Your Money: Gap insurance for auto loans

[sidharthchand]

Don't get double charged from the dealership get it from your insurance way cheaper

[jvolstad]

Here's a better idea. Pay cash in full for your car or at least 50% down. Gap coverage is pure profit for the dealership.

[rickyrodriguez]

Yeah my truck got totaled in a wreck that was not my fault. I had gap so I’m ok right?
Wrong. The insurance paid and I had a $3000 left over balance. Then the Gap company MPP found a way to pay nothing. So what good was it to have Gap insurance?

[ripshred]

I won't deal with regular car dealers anymore. I bought a car from Enterprise Car Sales, and am totally happy with the no pressure sales tactics. That includes when I told them I wasn't interested in GAP insurance either.

[KevinGonzalez]

If You can't put down at least 20% AND You can't pay off the note in 36 months or less, YOU CAN'T AFFORD THE CAR!!
If You have no alternatives and You can't apply both of these principles when buying a car, then GAP insurance is a must.

[ammunkhurshid]

Heres some facts for all the Smartasses leaving comments on here with no evidence to back there comments up whatsoever.


Why you should buy GAP from your Trusted Dealer.
1) It pays $1, 000 towards your insurance deductible.
2) It covers the ENTIRE duration of your finance. Not just 1-3 years which is the absolute maximum any insurance company will cover.
3) Insurance companies do not offer GAP insurance on pre owned vehicles, only new, so if you are buying a pre owned vehicle, you don't even qualify for that option from your insurance company.
4)GAP insurance through your trusted dealer will cover ALL negetive balance. The GAP insurance from your insurance company is not going to cover even 0.1% of any negetive balance that may have be carried forward from your previous vehicle.

[thomassodomizer]

GAP insurance from a dealer is a rip-off. In most accidents, you are not going total the car so your insurance minus your deductible will cover the repair.

[deborahlopez]

Gap insurance sucks you have to read before you sign

[keepitthoro]

Your title sucks, and and no should need gap insurance unless they made a bad buy