Answers

Ask Questions Answer Questions Browse Questions

Search for questions:

My Answers Profile

Question

Question Details

Asked: Apr 01, 2008 - 10:21 PM

Status: Closed

Anybody offered gap insurance? Had a wreck - loan would have been paid.

Bought a Used car, but in excellent condition. No mention of any coverage(GAP)....unfortunately within 5 months of purchase, it was hit(totaled). Thankfully no one was hurt badly(?). I must be in the dark ages...never heard of such coverage!!! Last financed a car 3 years ago! Is this new? I would have in a minute pay the monies at least for the life of the loan(3yrs)!!!! Now, there is no car and I owe to the bank!!!!
I am surprised that I was not asked by anyone if I wanted to purchase it!!!
Isn't that usually part of the end sale pitch??????? Extra money generating finances!!!!

In Car Insurance > Buying Insurance
In Car Insurance > Accidents
In Buying & Selling > Car Leasing > Gap Insurance
3 answers - 243 days ago

Answer this Question

Watch this Question | Email to a Friend

Note: Per our Visitor Agreement, Edmunds.com does not guarantee the accuracy of any answers. We recommend that you use common sense when following any advice found here.

Answers

avatar

tallman1

Date: Apr 02, 2008
Time: 12:05 PM

I think some regions push gap coverage more than others. There is a lot of discussion about its worth in the forums here on Edmunds.

Sorry about your situation!

avatar

bobbo580

Date: Apr 04, 2008
Time: 06:19 PM

Hello, anyone that buys a car (especially if your rolling in negative equity) should get gap. it's anywere from 400-500. But if you ever total your car your covered, they pay off the whole thing, even if you owe more than it's worth. I know this from personal experience, they only make 50-80 dollars on it so selling it is not a big thing for them. You should however always ask for it, it's worth the money

avatar

lmatulewicz

Date: Apr 04, 2008
Time: 08:29 PM

Got a reply....."Should of, could have, would have". If you are unaware of this coverage - you are done. Given what I have now gone through...You better believe I will be purchasing GAP insurance!!!!
Thanks for the replies!!!!!!

Answer this Question

View More

Top Buying Insurance Experts

Rank Leader Points
1. la4mead 80
2. mr_shiftright 80
3. ewilfong 65
4. obyone 40
5. boomchek 35
6. karjunkie 35
7. simpilot1 30