Ask the Car People.SM


Gap Insurance

467 messages,  Last post on May 06, 2013 at 5:45 AM

You are in the Smart Shopper Forum.

What is this discussion about? Car Leasing, Buying Insurance

Messages Page 47 of 48

#454 of 467 Some auto insurers by marsha7

Dec 22, 2011 (8:38 am)

do offer it, altho your doesn't, but almost all dealers do offer it...I assume the price is negotiable, it never hurts to try...

#455 of 467 Where does one buy gap insurance? by imaginary

Dec 23, 2011 (11:22 pm)

Does anyone know of anyone else who offers gap insurance besides dealers?

#456 of 467 Credit Unions also offer GAP insurance by yt576c

Jan 09, 2012 (9:52 pm)

My CU ( DCU) offered gap insurance for 1 time payment of $250 to $300. But I ended up taking GAP from the dealer as he did a price match to this price - $250. The initial quote he gave me was $750.

#459 of 467 Re: Where does one buy gap insurance? [imaginary] by carthell

Sep 07, 2012 (7:50 pm)

Replying to: imaginary (Dec 23, 2011 11:22 pm)
Progressive does. Saved me a lot of hassle when my first car was destroyed. I thought all insurances offered gap.

#461 of 467 Can't find anywhere to get Gap insurance by spikael

Mar 24, 2013 (4:12 am)

I think I'm stuck. I turned down Gap insurance at the dealer since it would have to be paid out of pocket and everything I read said the dealer would be overpriced. Now, the lender says it's too late one week later, the dealer says the lender won't let him add it for the same reason on his end. My insurance (Geico) doesn't offer it. I looked at switching but either the other companies don't offer it or it has to be done at the time of sale or be a year or two old at the most. I checked for standalone and one is not offered in NC and the other is not taking new customers. My credit union offers it only if you finance through them. I can refinance through them but not until 6 months after I establish on time auto payment history (first car loan) and clean up a few things on my credit.
 
I feel like I've exhausted my options. Any other ideas other then holding out and refinancing with them? The window for them opens up again then. I just don't want to feel paranoid driving all the time.

#462 of 467 Re: Can't find anywhere to get Gap insurance [spikael] by ken117

Mar 24, 2013 (5:33 am)

Replying to: spikael (Mar 24, 2013 4:12 am)
A question to ask is how long have you been driving and how many times have you totaled a car? GAP is very expensive insurance for a rare event. The shear amount of profit a dealer makes on GAP makes it poor way to spend money. Do you really need GAP or are you falling victim to the dealer's fear mongering?
 
Personally I have been driving for fifty years, my wife for forty fiver, and my children for up to fifteen. Never a single car totaled. We are not unusual.

#463 of 467 Re: Can't find anywhere to get Gap insurance [ken117] by spikael

Mar 24, 2013 (5:45 am)

Replying to: ken117 (Mar 24, 2013 5:33 am)
Thank you Ken. That's a very good point. I think it's more the fear of someone else's stupidity that has me on edge. I've been driving for 15 years and have never totaled a car. Only had two accidents ever. Rear ended twice from people following too close that were very minor and not reported. I consider myself a good driver and very cautious. I had a coworker who ended up upside down not long ago so I think that had me.worried too but then again our driving styles are completely different.
 
Thank you for your much needed rationale.

Messages Page 47 of 48

To POST a message, please Sign In.

Advertisement

Browse by Category

Browse by Vehicle
   View All Vehicles

Browse by Board
Browse by Topic
View All Topics

Edmunds Community

Advertisement