Well do you get to pick it up in about 8 hours or so?

 

Thanks everyone for your advice....sounds like the general consensus is that it's worth it in some cases. I'll check with my insurance company to see if they offer it. Then go from there.....

 

it's generally your financial institution that will offer it. i put 7K down, so i wasn't concerned with gap insurance.

 

My first instinct: GAP insurance??? What does GAP have to do with Jeeps?? Then the guy explained to me, I said "sign me up mother lover!" (ok I didn't say that) but I did get it. It's well worth it! I'm only paying $4 extra a month and it's worth it incase something terrible happens....

 

i sure hope so, work gave me the day off! So if i come home with no jeep ill be pissed

 

It's only worth it if theres a chance you'll total your vehicle and you'll owe more than it's worth. This is the case with new vehicles a lot if you're buying with nothing down. If you're putting money down (a few thousand or more), chances are you'll owe less than its worth for the life of the loan, hence no need for GAP coverage.

GAP coverage is just money insurance, and I already have auto/home/life. I don't need money insurance.

 

If you are upside down in a vehicle, then you NEED IT, unless you have plenty of pocket cash. However, just like anything else at a dealership, you can negotiate the price on it. I have gap my wife's 07 Tahoe, b/c we took a beating on her 05 Grand Cherokee that we traded in (the depreciation on GC are terrible and I bought it for $1500 under flat cost, yes, I work there so I know what triple net cost was). I did not get it on my Rubicon b/c I put a very hefty down payment on it.

 

I work in the collision industry I see customers all the time who get in a collision and then their car is a "total loss" then to find out they owe more for the car then what the insurance company is willing to pay. In this situation they are paying for a car that is salvage (JUNK). Gap is cheap. GET IT!.

On a side note (thread hi jack in process) I also see customers that buy a car lets say a jk and do lots of mods wheels, tires, lift, stereo, lights bumpers exhaust cb's etc and then get in a wreck. In MOST cases if these items are not declared on your policy the insurance co. does not owe for them. now on top of you $500 ded you have to pay for anything that cost more than oem. I see it all the time!!!!!

If you have mods call your agent and make sure they are covered.

Now back to our regular scheduled thread. (hijack over.)

 

Having gap insurance saved me more than once shortly after buying vehicles and having someone take me out on the highway (twice now). I will not be without it now.

 

Personnaly, I won't get a vehicle without it. Doesn't matter how much I put down or what I think the depreciation will be.

Look at it this way: would you really want to fork out a few grand on a vehicle that you'll never drive again if you were to wreck it? Really? That's like saying, "Hey, I ate this hamburger that I'll never get back. Here's an extra $5.00 just for giggles." I don't think so.

Why WOULDN'T you want to protect yourself down the road?