[Juballharshaw]

Check the exclusions on the back. Fucking Landcar Gap Coverage failed to pay out $735 on the remainder of my loan because "wear and tear deductions from the primary insurance settlement" were not covered. Bunch of fuckin cocks.

[demonizeZ]

very good point man. just week and a half ago when i got my EXP, the dealer showed me a paper and told me to sign that it was for Gap coverage. Don't know much about it but i think my insurance cover the gap or some thing like that. I don't think many people know about it. Just a day ago i got all the copy of things i sign and there is the paper for that too and extra keys. i will try to read up on it later when i have time.

[MSP]

Fuck yes I have gap insurance. To do otherwise is pretty retarded and dangerous.

[Torx]

gap ins is a must.

[JustinL]

Paid off

[Mr. Ali]

None of my family ever gets gap. it is stupid and ridiculous when you put down a 25% down payment.

EDIT: Also my Toyota Corolla got totalled after only 5,000 miles a few months after I bought it. Guess what, I got exactly the same amount of money as I paid for the car. So I essentially had a free car for a few months. I know all situations do not go this way but gap? nigga please.

[MSP]

Sooner or later you will get burnt, and gap insurance doesn't cost all that much. Especially now that oil is so fucking expensive. When some other form of energy source goes mainstream these gasoline engine cars aren't going to be worth shit. Even the brands than hold value, such as Honda and Toyota.

[Mr. Ali]

I guess but we usually pay a lot of money towards down payments so to me it really does not make sense, here is an example:

Totaled car: $16,000 out the door, $4000 down payment
My current car: $18500 out the door, $4000 down payment
My sisters car: $33000 out the door, $10,000 down payment
I think my mom paid with cash so that doesn't apply.

With a $0 down payment yes, I would get GAP, but not in the above situations.

[sims]

what the hell is gap insurance?

[namelessentity]

Gap insurance coveres the gap of what you owe and what the car is worth in the event of your car being totalled. Like if you still owe 18,000 on a car and the totalled value is only 15,000 you'd be upside down 3,000.
It generally happens to people who put smaller amounts down on a vehicle, or people with shitty credit that have such high interest rates that they've barely paid down the loan.

[MSP]

...or someone who buys an American car that drops 40% in value the minute they drive off the dealer lot.