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 General :: Outside the Cube :: Auto :: Purchase/ Finance
Advice on purchasing, selling, financing of cars & car insurance.

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Featured Article

What is Gap Insurance?

Question:

Someone recommended to me that I should get 'gap insurance' for my new car. What is that and should I really get it?

Answer:

GAP insurance covers you against a significant loss if your new car is totaled in an accident. Most auto insurance policies will cover the actual cash value of the vehicle which for a brand-new car is less than what you just paid for.

Let's say you bought a $35,000 car in January, put down $2,000 and finance $33,000. After two weeks you total your car (no matter whether you are at fault or not) and you still own $33,000. However, according to KellyBlueBook your 'used' car is only worth $32,000.
The insurance will pay you $32,000 and you just lost $3,000!

Gap insurance will pay you these $3,000.

Gap insurance is most important in the early years of a loan or lease when the value of the car may be less than what you owe on it. Some manufacturers now include gap insurance in their leases. However, if you purchased using a loan, you may want to buy gap insurance.


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2010-02-09 03:54:08:
by anonymous
in Dating Scams
on Dating scammer Natalya from Kolpino, Russia:
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Her 1st mail: ... read more
2010-02-09 03:46:34:
by [hidden]
in Male Dating Scammers
on Dating scammer Ben Fischer Ridwan:
Thank you all to this thread. I met S. Glen Jefferson about 2 months ago on Japanese site connection with WorldFriends. He sent me the same mails and photo on page 3 of this thread. He said he will co ... read more
2010-02-09 03:27:23:
by anonymous
in Dating Scams
on Dating scammer Michele Cook:
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2010-02-09 02:13:57:
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in Male Dating Scammers
on Dating scammer Erick Gibson:
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2010-02-09 02:05:10:
by anonymous
in Male Dating Scammers
on Dating scammer Danny R. Simpson:
ADD THIS SCAMMER DADA OLANREWAJU FROM NIGERIA, HE CLAIMS HE WORKS FOR TOURIST COMPANY THERE, BUT HE RECIEVES FUNDS FOR SCAMMER FEDERICO NATHANIEL GALONII,BECAUSE IS ON THE BLACKLIST FROM MONEY-GRAM AN ... read more
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by anonymous
in Dating Scams
on Dating scammer Rhoda Naa from Accra, Ghana:
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2010-02-09 01:24:09:
by anonymous
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on The UK NATIONAL LOTTERY scam:
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on Dating scammer mark williams:

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2010-02-08 23:14:37:
by ww
in Dating Scams
on Blacklisted Emails of Russian Dating Scammers:
@Hellow Mr.Russian Scammer Like WTF aka Peter Wiper in Russia.
[quote]
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2010-02-08 21:18:55:
by [hidden]
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on Dating scammer Ksenia Lihacheva from Diwnogorsk, Russia:
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