Re: Should I keep GAP insurance?[ Edited ]
02-10-2013 04:07 AM - edited 02-10-2013 04:09 AM
GAP is just another way for auto dealers to make money. If the consumer does the right thing, and puts a good down payment on a car, GAP is not needed at all. Your automotive retailer will pay RETAIL value of the vehicle if it's stolen/totaled.
People who put no money down, also cost themselves thousands more in charges, and should have GAP insurance also. Put the most money down you can, get the lowest interest rate possible, and the shortest term you can afford. You wont need GAP. Also, be responsible on the road. There's no such thing as an accident. It's negligence.
Having 3 cars totaled in 6 years..... I'm sorry, but you two have issues. Either start putting yourselves in better driving situations, or start leaving as much room as you can between others. There's NO excuse for having to make THREE totaled claims on your insurance in 6 years. No wonder why we all pay so much for insurance.
Starting Score: 521 TU, 597 EQ, 574 EX on 6/20/2011
Current Score: 753 TU, 748 EQ, 766 EX on 11/13/2014
Goal Score: 720-740 Across the board
Take the FICO Fitness Challenge