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Is gap ins included in out of door price?

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Frequent Contributor

Is gap ins included in out of door price?

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

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

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.

 

Message 2 of 5
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Frequent Contributor

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

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.

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Message 3 of 5
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Moderator

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

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.  

Message 4 of 5
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Valued Contributor

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


@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.  

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