Frequent Contributor
Posts: 446
Registered: ‎12-05-2012
Re: Should I keep GAP insurance?

Keep it. 

DH didnt have it on his first two cars in 2006 & 2007.  The first one was totaled after 6 months - broken axel, but otherwise fine. We are STILL paying the loan off because he had no GAP so no coverage for the loan. The second one in 2007, he still didnt get GAP and it was totaled a few months later. Still paying for this loan too -becaue he didnt have GAP. All cars since have had GAP!!! Totaled another one in 2011 (not his fault this time), and GAP covered the loan.

Its not a waste of money - keep it.

Starting Score: 526 EXP 09/2012 600 FICO 10/2012 608 EX (lenderpull)11/2012
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