Should I Consider??
#11
RE: Should I Consider??
gap insurance == C.Y.A. int eh car world!!
as far as suing for the difference that would depend on weather or not you have settled or not at the time . But even then they are not going to give you all of it back to where you wont get nailed for it. or a lawyer will beat you out of it.
Besides if your ins. pays off the car are you goign to want to sue yourself?
as far as suing for the difference that would depend on weather or not you have settled or not at the time . But even then they are not going to give you all of it back to where you wont get nailed for it. or a lawyer will beat you out of it.
Besides if your ins. pays off the car are you goign to want to sue yourself?
#12
RE: Should I Consider??
It is always best to buy a car where someone else has taken the depreciation. You don't need gap insurance and if you get an 06 or 07 with under 36k miles, you can still buy the extended warranty. Rental return cars with 5 to 9k miles are great purchases and if you buy from a reputable dealership, they run their own check on the car before they sellit. My car had a few thousand and was a rental return. I only paid $17k for it. I am very happy with my purchase even though it does need about 6typical things worked on like ISS and a rattely door, etc.
This is how I affored my '06 LTZ. The dealer found the car on Smartauction. I was told it was a company lease car. It had 10,000 miles on it and I paid $17k for it.
According to KBB, a car in the condition mine is (which is excellent) with 11,700 miles like mine and the toys it has is worth $16k.
I know if you check ebay you'll find several '06 Montes listed there. I know one or two are listed as a buy it now for around $12k.
This is how I affored my '06 LTZ. The dealer found the car on Smartauction. I was told it was a company lease car. It had 10,000 miles on it and I paid $17k for it.
According to KBB, a car in the condition mine is (which is excellent) with 11,700 miles like mine and the toys it has is worth $16k.
I know if you check ebay you'll find several '06 Montes listed there. I know one or two are listed as a buy it now for around $12k.
#13
RE: Should I Consider??
ORIGINAL: Bigg J
You sure about that? Not having gap insurance screwed me recently when my car got written off. I'm a big proponent for gap insurance. It's only about another $5 - $10 on the car note.
You don't need gap insurance
If you paid $26k for a new SS Motnte, It will be worth $24k 5 minutes later. If you crash after another 5 minutes. Your insurance will definitely not give you the full $26k. The gap insurace covers that $2k "GAP" in your pay-off.
I paid $17k for the LTZ which at the time had a low Kelly Blue Book of $19K. If I totaled it right after I bought the car, I would have *definitely* gotten the full $17k reinbursement making gap insurance unecessary.
Ergo, no need for Gap Insurance on a *USED CAR.*
#14
RE: Should I Consider??
May I add, if you are carrying a 5-7 year, 8-9% note on your car, yes, I can see the possibility of having gap insurance.
Or over paying for a used car, yes, gap is good.
But the accounting specialist who closed my deal, said that I got such a great price and great interest rate, that I would be wasting my money on Gap Insurance.
Or over paying for a used car, yes, gap is good.
But the accounting specialist who closed my deal, said that I got such a great price and great interest rate, that I would be wasting my money on Gap Insurance.
#16
RE: Should I Consider??
I don't know if you could have sued for the difference.... IT would have been something to look into. Gap insurance is good if you are pulling $$$ from a previous purchase. I have had to do that in the past, and bought GAP insurance for it. My current Monte purchase, I was able to pay off the older Monte that I was going to sell outright, and still have enought for a little down payment. I found such a good deal, GAP was not needed. I found my Laser Blue 3LT with 11,200 miles on it, and alot of the things I wanted (No XM or Sunroof), and I only paid $13,900 for it... I checked Kelley Blue Book and a few of the other car pricing sites, and I could have traded it in to another dealership and made money on it. It was first put in service on March 06, and I bought it in Oct. 06.
You just have to find the right deal on the right car, and act like you do not need it....
You just have to find the right deal on the right car, and act like you do not need it....
#17
RE: Should I Consider??
I was cavalier about buying my '06. The dealer called me a couple times a week saying they found this Monte or that one.I'd question them about the car and if I wasn't interested I told them right out I wasn't. I mean I have to pay for it and own it, why should I buy something I'm not happy with?
#20
RE: Should I Consider??
this is true but there is also GAP that will cover if somethign happens to you and you cant work i know it is not disability but basically acts the same but it will pay off the debit for you on the car.
but eitehr way gap is nto that bad if you decied to get it i think with the loan on my car i paid like 3.00 extra a month for it. honestly 3.00 wont break me and i would rathe rhave it then not.
my luck if i didnt some fool would total out the car and it would not get paid off.
but eitehr way gap is nto that bad if you decied to get it i think with the loan on my car i paid like 3.00 extra a month for it. honestly 3.00 wont break me and i would rathe rhave it then not.
my luck if i didnt some fool would total out the car and it would not get paid off.