topic Re: Is gap ins included in out of door price? in Auto Loans

Is gap ins included in out of door price?

ando35 — Sun, 08 Sep 2019 14:41:23 GMT

Sorry it's a bit off topic but I cannot find answers.

Re: Is gap ins included in out of door price?

IPIF — Sun, 08 Sep 2019 15:47:53 GMT

My understanding is that out the door price includes price of car, taxes, title, and dealer fees, but not gap.

I would not buy gap insurance from car dealer.

Most auto insurers will sell you new car replacement coverage for a small additional premium.

Re: Is gap ins included in out of door price?

Jannelo — Sun, 08 Sep 2019 16:06:17 GMT

It's an added-on price you elect there during signing the documents, or don't. I am far too embarrassed to say what my gap insurance is in my car loan. I prepared ahead or time, had decent financing in place, even with my bad credit, but forgot to check out the whole gap coverage before I went down there. I just signed the document and rolled it into my loan, but I could kick myself. It's high, really high. Oh, well. At least I am covered on all fronts. Where I live is noted for its high rate of car accidents in the U.S. We have lots of ongoing construction on our interstate through the city and outlying counties (a five-year plan turned into a seven-year plan it seems), and I'm on it almost every day.

Re: Is gap ins included in out of door price?

Loquat — Wed, 11 Sep 2019 12:05:27 GMT

It almost never included in the "out the door" price however it is cheap enough that I would encourage 99% of most buyers to have. When I was spinning paper in the box it was a flat $599 and I never negotiated. There are a few products that I would sometimes make an exception for...mostly the extended service agreement because there was so much profit in it that I didn't mind sliding a couple hundreds bucks if needed to get the deal done. But because I believe in GAP so much it was just one of those personal decision that I made to never let up on the cost...I know the value of it and it far and exceeds the $599 in most cases when it needed to be used.

Re: Is gap ins included in out of door price?

sccredit — Wed, 11 Sep 2019 21:32:39 GMT

@Loquat wrote:
It almost never included in the "out the door" price however it is cheap enough that I would encourage 99% of most buyers to have. When I was spinning paper in the box it was a flat $599 and I never negotiated. There are a few products that I would sometimes make an exception for...mostly the extended service agreement because there was so much profit in it that I didn't mind sliding a couple hundreds bucks if needed to get the deal done. But because I believe in GAP so much it was just one of those personal decision that I made to never let up on the cost...I know the value of it and it far and exceeds the $599 in most cases when it needed to be used.

Exactly why I never purchased it from the dealer. Is it a valuable tool? Yes. I can also pay $6 every 6 months for it through my car insurance company. When I used NFCU for an auto loan it was $299.