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Gap Insurance

440 messages,  Last post on Sep 24, 2009 at 1:20 PM

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What is this discussion about? Car Leasing, Buying Insurance

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#1 of 440 Leased a honda w/o gap What to do?? by adm1exg Jul 09, 1998 (1:43 am)
My mistake, I didnt look for Gap insurance in the contract. Is it possible to negotiate or purchase after the sale? Leasing with Nationsbank Leasing arm. Replies to this message: rue1 (Jun 21, 2006 9:10 am) qbrozen (Jun 21, 2006 9:37 am) rue1 (Jun 21, 2006 1:48 pm)
#2 of 440 Gap Insurance by Car_man HOST Jul 09, 1998 (4:56 am)
Adm1exg, I don't know Nationsbank's specific policy on this matter, but they may let you purchase gap insurance after you have signed your lease. I bet that gap insurance is a fairly profitable item for finance companies, because it is unlikely that your car will ever be totaled or stolen. If it makes you feel better to have it, and they are likely to make money on it, then I don't see why they wouldn't sell it to you. Give them a call and see what they say. Please come back and let us know what they told you. I'm curious. Your Host
#3 of 440 adm1exg by adm1exg Jul 09, 1998 (3:29 pm)
Spoke to a rep at Oxford leasing(Now Nationsbank) and he said that all their leases have gap included as a zero cost item.I have his name but that may not matter two or three years from now if the car is stolen or totaled.I'm gonna try contacting my dealer if they can include a clause or something....has anyone else had any probs w/oxford in the past??
#4 of 440 Gap Insurance 2 by Car_man HOST Jul 12, 1998 (10:49 pm)
I leased a vehicle through Oxford several years ago. They had very good rates, but at the time gap insurance was not included in the basic lease agreement. It was an additional charge of a couple of dollars per month. I am not familiar with Oxford's current policy on gap insurance, it may have changed since then. I am currently leasing a vehicle through American Honda Finance Corporation and that gap insurance is included in my lease at no additional charge. Hopefully you will never have to take advantage of gap insurance. However, it is a good idea to make sure that you do have it, just in case you do run into some sort of major problem in the future. Better safe than sorry. Your Host
#5 of 440 howey by howey Aug 24, 1998 (9:12 pm)
Chubb Insurance offers gap insurance on leased cars which are under you auto policy
#6 of 440 ladyk by ladyk Jan 20, 1999 (7:23 pm)
I purchased a 1997 in 1998 and was told that I should have Gap Insurance. Is this insurance really needed on used or new car purchases.
#7 of 440 Car_man by Car_man HOST Jan 20, 1999 (11:50 pm)
Well, ladyk, you technically don't need gap insurance. Whether you should purchase it or not depends upon how risk averse you are, much like an extended warranty purchase decision. Gap insurance was included on the last two vehicles that I leased, but I don't think that I would have gotten it if I had to pay more than a few (very few) dollars extra per month. Your Host
#8 of 440 n247zq by n247zq Mar 12, 1999 (7:56 pm)
Does anyone know if and where GAP insurance can be obtained after a lease - lease company says they can't do it.
#9 of 440 GAP Insurance for less by Dec 14, 2000 (3:46 am)
#10 of 440 Johnh by johnharper Jul 27, 1999 (10:40 am)
I was shopping around when getting my new car and the dealer wanted $550 for GAP Insurance. Knowing that somewhere on the web I could get it for cheaper. After searching for a couple weeks I came across a site that did it for $225!. I would recommend this site if you want to save considerable money on your GAP insurance. Their web site is www.gapcontracts.com. Thanks, John

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