Park Dodge

L8DNRED

New Member
One would only need GAP insurance if you either got screwed in price, upside-down because of a trade-in, or your interest rate is obscenely high. Do any of these pertain to you?
 

JabbaJawz

Be about it
Originally posted by L8DNRED
One would only need GAP insurance if you either got screwed in price, upside-down because of a trade-in, or your interest rate is obscenely high. Do any of these pertain to you?

I'm not so sure about that. When you buy a brand new car, even when getting a good deal, the value of the car goes down as soon as you drive it off the lot. If you were to total the car a couple mos. after your purchase, it's hit or miss as to whether you'd get the payoff from the insurance company. You may, but it's not a sure thing.
 

joedancer

bookman
gap insurance

Originally posted by L8DNRED
One would only need GAP insurance if you either got screwed in price, upside-down because of a trade-in, or your interest rate is obscenely high. Do any of these pertain to you?
I think you should always get GAP, as you there is no way to predict how much your car will be worth down the road. The only time you don't need it is when you have paid cash for the vehicle. For those who don't know what it is, it kicks to pay for what you your insurance pay for when you total your car. It is not very expensive, compared to the loss you could sustain. Also, most people are "upside down" in their vehicle investment.
 

lfquade

New Member
We were not offered Gap insurance and our van was totaled during the hurricane so we got screwed with a lot of money left after the insurance paid what they were gonna pay. Is a good thing to have and we are sorry that they didn't offer it. Next time we get a vehicle we will get it now that we know about it.
 

jeneisen

Indy Bound
I bought my car from there and was offered it and bought it. You insurance agency can also sell it to you and so can the finance company. They have now changed the rules as well that you can buy it anytime in your loan instead of doing it only when you buy it. I paid 300.00 one time fee for the entire loan. Its not bad if you look at the value its worth now compared to what it was in March when I bought it.
 

LeeLoo

Teach me to talk
I agree that GAP is a great thing to have. I had an "almost" new vehicle totaled once, and the difference between what my insurance would pay and what I would owe was around $1,000. But it was nice that I had the Gap to cover that $1,000.
 
K

Kain99

Guest
I've know Jerry Dillard for several years now. I work with him on a professional level. I can't imagine them selling a vehicle without offering Gap. I'm sorry you got the shaft but I'd be sure to sit down and talk to him about all of this. Maybe you got a terrible salesman.
 

lfquade

New Member
Originally posted by Kain99
I've know Jerry Dillard for several years now. I work with him on a professional level. I can't imagine them selling a vehicle without offering Gap. I'm sorry you got the shaft but I'd be sure to sit down and talk to him about all of this. Maybe you got a terrible salesman.

We've talked to him over and over again, but nothing. The saleman who sold us the van was fired soon after we signed the contract. And the guy who did the finance part was also fired after the contract was signed. :shrug: We weren't very happy with the first sale from there, so I doubt we will go back.
 

alex

Member
This must be a new thing. When we bought our truck in July they offered it to us and this was the first time we had ever heard of it. Of course it has been over 8 years since we bought a car. We took it since we bought a new truck.

I would also recommend Sheey Chevy/Dodge where we bought the truck. The salesman was great Ed Yousif. We got a great price and great service. They didn't try to jack us around on the financing either. All together it was BEST car buying experience either of us had ever had.
 
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