main dealer says i can buy gap insurance only from them, is this true ?
2007-01-13 00:51:42 · 7 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
I've not really heard of Gap insurance for used cars, but if they have it available, its easy to figure out if you need it. First you need to ask them or go on the computer to Blue Book and find out what the actual cash value of the car is. If your loan amount exceeds the value of the car...then definitely get the gap insurance (as long as its reasonably priced). What happens is: if you total your car, your car insurance will pay only the value of the car before the loss...they dont care how much you owe on the car. So once the insurance pays, if there is a balance left on your loan...it is up to you to pay it. Thats what the Gap insurance will pay. Oh...and if they tell you that you can only buy it from them, they are probably right.
2007-01-13 01:05:00 · answer #1 · answered by lady_daizee 3 · 0⤊ 0⤋
If you need gap insurance you are paying over the odds for the car.
Will the Gap insurance cover you excess as well? check it out but I have recieved the same for my written off car 6 months after purchase as I paid for it less the excess.
If the repayments plan is such that you need gap insurance you cant afford the car.
2007-01-13 02:52:25 · answer #2 · answered by "Call me Dave" 5 · 1⤊ 0⤋
No... you can buy GAP (guaranteed asset protection) from any insurer. On line is probably the cheapest.
Dealers can only sell GAP on cars supplied by them (that's probably where the confusion stems from)
It should cover the difference between what you paid for your car and what your insurer pays you (should your car be written off)
As to whether you should have it or not?
If you don't and your car is stolen or crashed You'll wish you did!
If you do and nothing happens You'll wish you hadn't bothered!
Up to you
2007-01-13 01:13:17 · answer #3 · answered by Chew 4 · 0⤊ 0⤋
you can get gap insurance from where you get your car insurance. It is usually alot cheaper. I know I bought it. Get gap insurance only if the amount you are financing is larger than the value of the car.
2007-01-13 02:16:06 · answer #4 · answered by nj2pa2nc 7 · 0⤊ 0⤋
Car insurance http://buycheapcarinsurancequotes2016.com/
2016-02-22 23:24:20 · answer #5 · answered by ? 2 · 1⤊ 0⤋
not true. I would not buy the car either from a lier like that.
see this for cheap insurance
http://www.kqzyfj.com/click-1768315-10426317
2007-01-14 00:53:52 · answer #6 · answered by b94897p8 2 · 0⤊ 0⤋
Check out this article i found http://www.youbigg.com/Car-Insurance.html it has details on different types of plans and information. It always has info on what your asking.
2007-01-15 07:44:24 · answer #7 · answered by Anonymous · 0⤊ 0⤋