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Smart Shopper Gap Insurance
440 messages, Last post on Sep 24, 2009 at 1:20 PM
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joel: thanks for that info, I never would have thought that could happen... nk: The extended warr is usually either from the carmaker (like Ford ESP Warranty) or an independent company...those companies may not offer GAP as it is a different kind of insurance... kinda like Prudential may offer car and home ins, but not motorcycle ins... |
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My husband leased a vehicle about 4 months ago and since then is diagnosed with terminal cancer. Will gap insurance pay for the vehicle (the contract is in his name alone) when he passes? I don't believe he purchased the gap ins.,and if not, can we still buy it? Thank you for any advise.
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Replying to: dsoret (Sep 03, 2007 12:47 pm) Gap will not pay for the vehichle in this situation. Here is Fords program for situations such as this. I would be suprised if all manufactures don't have a similar program. This is not a warranty or insurance you would have had to buy. It is at no additional charge and applies to all Ford Leases or Loans. Peace of Mind lets you lease a new vehicle through Ford Credit without concern about leaving your family to deal with unwanted obligations. In the event of the lessee's death before the lease terms are satisfied, Peace of Mind allows the return of the vehicle to Ford Credit. Any surplus derived form the wholesale sale of the vehicle will be refunded to the co-lessee of the estate. If you pass away before your lease obligation is fulfilled, your eligible co-buyer, co-lessee, estate or spouse may receive Peace of Mind benefits. Peace of Mind is available at no extra charge to customers who are at least 62 years of age when they lease a new vehicle through Ford Credit. To be eligible for Peace of Mind, co-buyers and co-lessees must also be age 62 or older. The spouse of a qualified customer is not required to have reached 62 years of age. |
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Thank you for the information. However, my husband leased through GMAC. He is 65, but I don't know if they offer the same Peace of Mind benefits. I am 58. Again, thank you for any information you may have!
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Replying to: dsoret (Sep 03, 2007 5:09 pm) As far as the lease goes, if I recall, GMAC has a similar program, simply turn the car in and you can walk away. You might ask your dealer's Finance Manager as well. |
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| Sorry, I appreciate all the help you have tried to give me, but I talked to GMAC today and they do not have ANY Peace of Mind Benefits! In fact, they didn't even know what I was talking about! My dealer was in the dark also; never heard of it he said! Therefore, I am stuck with a 36 month lease on a 2007 vehicle that we cannot use (due to my husband's terminal cancer)! I sooo appreciate all the info you gave me and how you tried to help! | |
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Replying to: dsoret (Sep 04, 2007 4:51 pm) |
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Replying to: dsoret (Sep 04, 2007 4:51 pm)
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Replying to: joel0622 (Sep 05, 2007 8:07 am)
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