Did you or are you getting GAP - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

perfxn · 06-04-2009, 01:01 PM

IF so how much are you paying and how much did you get it for? my loan is alittle large 29,000 so im thinking it mite b a smart idea to get the GAP just in case something happens.

rforbes · 06-04-2009, 01:15 PM

GAP is an absolute must! Especially if you are financing it. You can go through your own insurance company and it only costs about 6 bucks more a month. Definately worth it.

bballr4567 · 06-04-2009, 01:25 PM

Quote:

Originally Posted by rforbes

GAP is an absolute must! Especially if you are financing it. You can go through your own insurance company and it only costs about 6 bucks more a month. Definately worth it.

Exactly. Do it through your OWN insurance company. DO NOT, repeat, DO NOT get it through the dealership. They will rip you off when it comes to GAP.

Only time I wouldnt get GAP insurance is if you are planning on paying a good chunk of cash down. Kind of makes GAP insurance pointless then.

hb-rocks · 06-04-2009, 01:26 PM

I have never purchased GAP insurance....
I am very skeptical and would really do some research on it first.
However, in the 2 mins of looking I did already find the following about GAP insurance!

http://www.carbuyingtips.com/insurance.htm

Don't fall into the gap!
If you owe more on your car than it is worth, if you lease, or if you put down less than 20%, you should get Gap Coverage from Gapinsurancequotes.com. Most people refer to it commonly as "gap insurance". Don't even bother buying it from dealers, they charge $500-$700 when you can get it online directly from Gapinsurancequotes.com for less than 1/2 the car dealers. If you owe $20,000 on your car, but it's only worth $16,000, you're upside down. You total the car, or it's stolen, your insurance company gives you $16,000. You must still come up with $4000 to pay off the bank, plus your $500 deductible! Gap coverage protects you against this. The better ones cover up to $500 of your deductible.

Scott@Bjorn3D · 06-04-2009, 01:28 PM

I did gap on my wifes Acura RL and my Camaro. I am glad on the RL, the resale on the car is about 9K less than we owe on it at the moment.

wullger · 06-04-2009, 01:40 PM

Will definitely be getting it!

ravensjeff · 06-04-2009, 01:46 PM

From the dealer- no. I only ended up financing $5000. Allstate has coverage that will pay you for a new car for 3 years.

SRVFAN · 06-04-2009, 01:51 PM

Quote:

Originally Posted by rforbes

GAP is an absolute must! Especially if you are financing it. You can go through your own insurance company and it only costs about 6 bucks more a month. Definately worth it.

We went to the Credit Union yesterday to get pre approved for my Camaro... I had never heard of Gap Insurance... our Creidt Union sells it for $235 (one time fee) & it's covered. It isn't transferrable tho. So... IF you think you may refinance at a later time, the Gap Insurance wouldn't go with you in this instance. I've never had it & never needed it.. but MAY consider it this time.

The Dark Knight · 06-04-2009, 01:55 PM

I had originally gotten it through the dealer ($499)...but my insurance provider told me I can save half by doing it through them ($250)...so I went with the insurance provider.

perfxn · 06-04-2009, 01:55 PM

im calling my insurance gieco and find out the price. thanks!!!1

PQ · 06-04-2009, 02:14 PM

Bought it for Bonnies Lexus and was only upside down for 4 months. The Camaro I bought through the dealer. 350.00 so well worth it. I'll be upside down on the Camaro longer than Bonnies.

06-04-2009, 01:01 PM	#1
perfxn Drives: 2SS RS Join Date: Oct 2008 Location: portland, OR Posts: 305	Did you or are you getting GAP IF so how much are you paying and how much did you get it for? my loan is alittle large 29,000 so im thinking it mite b a smart idea to get the GAP just in case something happens.

06-04-2009, 01:46 PM	#7
ravensjeff 100% Chevy & Harley Man Drives: 2010 2SS: Blown LSX 376-B15 Join Date: Feb 2009 Location: Eldersburg,MD Posts: 2,211 View My Garage	From the dealer- no. I only ended up financing $5000. Allstate has coverage that will pay you for a new car for 3 years. __________________ LSX 376-B15, TVS2300 SC, Harland Sharp Rockers w/ Trunion Bearings, ATI Balancer/keyed, AR LT Headers/Borla Catback Exhaust, DSS 1400 HP Axles, DSS aluminum driveshaft, 3.70, Hotchkis Springs/Sway bars, Forgeline SO3P Aluminum Wheels (20x9.5 F/20x11 R)w/ Hidden Titanium Hardware, Nitto NT05 Tires (27540ZR20 F/31535ZR20 R), Billet LPE brake/gas pedals, Escort 9500ci Radar Detector Laser Jammer, Roto Fab CAI with Ice Silver box, Carbon fiber tube/MAF Housing Assy, LPE Aluminum coil covers, SS9 Sleeper Fiber Glass Hood (ACS), Carbotech 1521 ceramic brake pads, Elite catch can.

06-04-2009, 01:55 PM	#9
The Dark Knight Batmobile in Disguise Drives: 2009 Pontiac G8 Join Date: Aug 2008 Location: Upland, Ca Posts: 2,079	I had originally gotten it through the dealer ($499)...but my insurance provider told me I can save half by doing it through them ($250)...so I went with the insurance provider. __________________

06-04-2009, 02:14 PM	#11
PQ Booooosted. Drives: 2010 Supercharged SS Join Date: Apr 2008 Location: Mobile, AL Posts: 36,717 View My Garage	Bought it for Bonnies Lexus and was only upside down for 4 months. The Camaro I bought through the dealer. 350.00 so well worth it. I'll be upside down on the Camaro longer than Bonnies. __________________

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06-04-2009, 01:15 PM	#2
rforbes Drives: IOM SS/RS Join Date: Mar 2009 Location: The Colony, Texas Posts: 797 View My Garage	GAP is an absolute must! Especially if you are financing it. You can go through your own insurance company and it only costs about 6 bucks more a month. Definately worth it.

06-04-2009, 01:26 PM	#4
hb-rocks Drives: Chevy Join Date: Jun 2007 Location: HB CA Posts: 567	I have never purchased GAP insurance.... I am very skeptical and would really do some research on it first. However, in the 2 mins of looking I did already find the following about GAP insurance! http://www.carbuyingtips.com/insurance.htm Don't fall into the gap! If you owe more on your car than it is worth, if you lease, or if you put down less than 20%, you should get Gap Coverage from Gapinsurancequotes.com. Most people refer to it commonly as "gap insurance". Don't even bother buying it from dealers, they charge $500-$700 when you can get it online directly from Gapinsurancequotes.com for less than 1/2 the car dealers. If you owe $20,000 on your car, but it's only worth $16,000, you're upside down. You total the car, or it's stolen, your insurance company gives you $16,000. You must still come up with $4000 to pay off the bank, plus your $500 deductible! Gap coverage protects you against this. The better ones cover up to $500 of your deductible.

06-04-2009, 01:28 PM	#5
Scott@Bjorn3D Drives: Kami, 2013 2SS LS3 Luvin Join Date: Oct 2008 Location: Eufaula, Alabama Posts: 6,427	I did gap on my wifes Acura RL and my Camaro. I am glad on the RL, the resale on the car is about 9K less than we owe on it at the moment.

06-04-2009, 01:40 PM	#6
wullger Supercharged Drives: 2010 Camaro 2SS/RS Join Date: Apr 2009 Location: Tyler, Texas Posts: 1,575 View My Garage	Will definitely be getting it!