Gap insurance?

[CH-7-Mission-Accomplished]

Get some other quotes and if you can match GEICO and get gap, you're done.

[pipeguy]

Here is an interesting look at GAP Insurance: http://www.nolo.com/legal-encyclopedia/gap-insurance-car-do-you-30132.html

Personally, I've purchased over 50 Cars/SUV's/Trucks (probably more) all but maybe 2 or 3 were new - never saw the need for GAP insurance, never would have made a claim for it either but that's the "risk" I assumed - most dealer sourced manufacturer leases include GAP insurance last time I looked, but then again it might be "optional" today since it's a major marked profit item for dealers. 

Although not the exact same, many insurance companies offer "full replacement value" options as in your 2013 car gets totaled, they'll try to find you a similar vehicle rather than pay you the cash. Also keep in mind that it's one thing if your Maybach gets stolen, it's another if you get in an accident and its the oher guys fault your car got totaled. 

Best rule I learned is if its the other guys fault, never take the first offer their insurance company makes because it'll be a lowball.

[Anonymous]

If the only choice is a $900 gap insurance plan or nothing I would go without it.  Having said that everything at a dealership is negotible so tell them what your willing to pay.

[Anonymous]

When I go to close on the car, I will try to negotiate amount down to 400 or less and pay that upfront so I am not paying interest on that in my loan. If they won't lower it then I will go without it. Worse case car gets totaled on my way home from dealership, no GAP,  I can always roll the difference into a new one with the same lender Chrysler. Called GEICO and they told me they pay replacement cost of car in my local area. Dealers are higher priced in my area and I am purchasing car over an hour away from where. I live. I appreciate all the feedback from everyone.   

[disdreamin]

I purchased gap insurance from my CU when I took out a loan for a new truck. I could have put more down, but at $99 for the insurance, I figured I'd let them take the risk. Once we are right side up with the loan, I'll pay it off, but did now I will let it ride (sub-2% rate) and if the vehicle gets totaled I can walk away with my cash in my pocket instead of out big $.