nsxt2000
10-31-2007, 01:28 PM
Picture this - you just buy that great looking Acura TL with all the options and are feeling pretty good about getting the dealer down to $37,500 for it. Driving home you are fiddling with the navi seeing if it has Hooters restaurant listed when suddenly WHAM! You total your fine new TL.
* The great news is that the safety features of the TL saved you and you walked away without a scratch, other than injured pride. If anyone ask, you were searching for NPR radio when it happened.
* The good news is that you are fully insured.
* The bad news is that you failed to buy GAP insurance. That new car you only moments ago drove off the lot is now suddenly worth only $34,500 according to your insurance company. It is a used car. The $3,000 difference comes out of your pocket.
GAP insurance is an insurance product that essentially covers the difference between what you owe on a vehicle and what it is considered worth at that point. The odds of an incident bringing GAP coverage into the picture is relatively small, hence the relative small fee for it. Unless money is no issue I certainly recommend at least thinking about it and frankly feel it is a good investment. Look at GAP before you buy or lease that next vehicle!
-Mike S.
* The great news is that the safety features of the TL saved you and you walked away without a scratch, other than injured pride. If anyone ask, you were searching for NPR radio when it happened.
* The good news is that you are fully insured.
* The bad news is that you failed to buy GAP insurance. That new car you only moments ago drove off the lot is now suddenly worth only $34,500 according to your insurance company. It is a used car. The $3,000 difference comes out of your pocket.
GAP insurance is an insurance product that essentially covers the difference between what you owe on a vehicle and what it is considered worth at that point. The odds of an incident bringing GAP coverage into the picture is relatively small, hence the relative small fee for it. Unless money is no issue I certainly recommend at least thinking about it and frankly feel it is a good investment. Look at GAP before you buy or lease that next vehicle!
-Mike S.