When I purchased my car, I rolled over another loan into my current loan and now my car is a total loss. Will the gap insurance pay the amount that I rolled over?
Total Comments: 16
Posted: Wed Aug 12, 2009 12:15 pm Post Subject:
Here is a question. How do you know when you need GAP insurance? I recently bought a newer used vehicle with low miles. 2006 Pontiac G6 with only 21,000 miles. The purchase price with 5 year warrenty was roughly $13,000. I blue booked the car and it came in roughly that amount. (I paid some down and paid for the additional warrenty out of pocket). The dealer said I would not need GAP..is this true. It seemed right to me.
Posted: Wed Aug 12, 2009 12:19 pm Post Subject:
How do you know when you need GAP insurance?
If there is ANY way that you owe more than the vehicle is worth, you need GAP...
I blue booked the car
Come on now Fire, you know that no carrier uses the blue book :wink:
Without knowing all the option etc. on your car, I can't get a true value for you...but with only the mileage and yr/make (also I ran it as a 4 cyl, it comes as a 6 as well) I'm getting 11,975.00 so with the options etc...you're probably close...what did you finance?
Posted: Wed Aug 12, 2009 12:27 pm Post Subject:
It is a 6 cylinder GT. Here are alot of the options I can think of. Electronic sunroof, six disc cd player with XM radio, Traction control, alloy wheels, electic windows and seats. Gosh I am trying to think of what all would matter. I know it came with so many options that I thought I was getting a good deal...now I am wondering. I financed $11,000. Paid for the warrenty and taxes all with cash.
Posted: Wed Aug 12, 2009 01:02 pm Post Subject:
Ok, I get $13, 400 with what you have provided, if it has leather seats add 450.00 without cruise deduct 150, with theft RECOVERY system add 125
Posted: Wed Aug 12, 2009 01:12 pm Post Subject:
Thanks! At least I know I paid the fair amount for it. It does have the recovery system but not leather seats. It also has cruise control on the steering wheel. This makes me feel alot better. So this means I am safe on GAP right? I will check back later...off to cheerleading practice...
Posted: Wed Aug 12, 2009 07:37 pm Post Subject:
So this means I am safe on GAP right?
yep, actually if you owe less than say 11k or so you probably don't need it.
Posted: Wed Aug 12, 2009 12:15 pm Post Subject:
Here is a question. How do you know when you need GAP insurance? I recently bought a newer used vehicle with low miles. 2006 Pontiac G6 with only 21,000 miles. The purchase price with 5 year warrenty was roughly $13,000. I blue booked the car and it came in roughly that amount. (I paid some down and paid for the additional warrenty out of pocket). The dealer said I would not need GAP..is this true. It seemed right to me.
Posted: Wed Aug 12, 2009 12:19 pm Post Subject:
How do you know when you need GAP insurance?
If there is ANY way that you owe more than the vehicle is worth, you need GAP...I blue booked the car
Come on now Fire, you know that no carrier uses the blue book :wink:Without knowing all the option etc. on your car, I can't get a true value for you...but with only the mileage and yr/make (also I ran it as a 4 cyl, it comes as a 6 as well) I'm getting 11,975.00 so with the options etc...you're probably close...what did you finance?
Posted: Wed Aug 12, 2009 12:27 pm Post Subject:
It is a 6 cylinder GT. Here are alot of the options I can think of. Electronic sunroof, six disc cd player with XM radio, Traction control, alloy wheels, electic windows and seats. Gosh I am trying to think of what all would matter. I know it came with so many options that I thought I was getting a good deal...now I am wondering. I financed $11,000. Paid for the warrenty and taxes all with cash.
Posted: Wed Aug 12, 2009 01:02 pm Post Subject:
Ok, I get $13, 400 with what you have provided, if it has leather seats add 450.00 without cruise deduct 150, with theft RECOVERY system add 125
Posted: Wed Aug 12, 2009 01:12 pm Post Subject:
Thanks! At least I know I paid the fair amount for it. It does have the recovery system but not leather seats. It also has cruise control on the steering wheel. This makes me feel alot better. So this means I am safe on GAP right? I will check back later...off to cheerleading practice...
Posted: Wed Aug 12, 2009 07:37 pm Post Subject:
So this means I am safe on GAP right?
yep, actually if you owe less than say 11k or so you probably don't need it.Add your comment