GAAP Insurance


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GAP Insurance

Anybody ever had it? I cannot understand why anyone in their right mind would consider such. I know someone who just purchased a new car for $18k and when I scrolled to the bottom line it was $30k. I scanned and saw GAAP - $12k. I was like, "Do you think that's a good price for insurance?" They hadn't even thought about it. :retard: I was like how long does that cover you for......... Jesus, Jesus, Jesus.......
 
Gap Insurance normally cost about $500 to $700 not 12 k


Your friend got screwed..

And yes it is good to have!
 

That GAP might not be insurance... it is probably what they owed on the car they traded in.

GAAP is Generally Accepted Auditing Practices.
 
yeah that sounds like negative equity, not GAP. i have GAP and mines is no where near that, and i think it's a good thing to have also.
 
Damn she rolled 12k over into another car?

Well, I know someone who roll 18k into a damn 2007 Tahoe
 
delock said:
Damn she rolled 12k over into another car?

Well, I know someone who roll 18k into a damn 2007 Tahoe
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I don't know what HE did and neither does HE. He's not my friend & I don't know his name, I just saw what I saw. I asked if he traded in another vehicle & he said, "No, that's for my insurance."
 
delock said:
Well, I know someone who roll 18k into a damn 2007 Tahoe
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oh heyal nah, i woulda set fire to it, or let it roll off a cliff if i wanted another one that bad. :emlaugh: at least break even. she could've kept that and just paid two notes, lol.
 

The note probably is cheaper ... They are doing some doozy of a deal on Tahoes now. Even if you add 18k to the bottom line the note will be less than a 745 Beamer... Now is it a good move... NO!
 
ABE said:
The note probably is cheaper ... They are doing some doozy of a deal on Tahoes now. Even if you add 18k to the bottom line the note will be less than a 745 Beamer... Now is it a good move... NO!
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Well it was a good deal for here.

Plus she obtain here unit when they first came out.

I want a Yukon so bad I can taste it....:retard:
 
XHALE9802 said:
oh heyal nah, i woulda set fire to it, or let it roll off a cliff if i wanted another one that bad. :emlaugh: at least break even. she could've kept that and just paid two notes, lol.
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Some people drive theirs down in the water when it floods in Houston... :lmao:
 
I don't believe in having GAP insurance. If I buy are car, I'll just take the chance that I won't total it as soon as I drive it off the lot.

As far as trade-in, its not totally crazy to roll $12K into a new car. You have to look at how the numbers are done. If the Tahoe was listed at $40K, then they may have sold it to her for $28K, and rolled the old car into the note and then she still bought the car for $40K. Just an example. I'm not trying to trade in another vehicle ever again anyway.
 
MsJag4Jag said:
Some people drive theirs down in the water when it floods in Houston... :lmao:
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:goodbad:

Da_Sperm said:
I don't believe in having GAP insurance. If I buy are car, I'll just take the chance that I won't total it as soon as I drive it off the lot.

As far as trade-in, its not totally crazy to roll $12K into a new car. You have to look at how the numbers are done. If the Tahoe was listed at $40K, then they may have sold it to her for $28K, and rolled the old car into the note and then she still bought the car for $40K. Just an example. I'm not trying to trade in another vehicle ever again anyway.
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Yeah, your right about the sticker price. Plus you have to look at intrest rate.

If you currently had a 10% ir and was offered 2.9 you could assume a large rollover and still have cheaper notes.
 
Da_Sperm said:
I don't believe in having GAP insurance. If I buy are car, I'll just take the chance that I won't total it as soon as I drive it off the lot.

As far as trade-in, its not totally crazy to roll $12K into a new car. You have to look at how the numbers are done. If the Tahoe was listed at $40K, then they may have sold it to her for $28K, and rolled the old car into the note and then she still bought the car for $40K. Just an example. I'm not trying to trade in another vehicle ever again anyway.
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that's understandable, i just can't see me rolling NE over into a car that over 25k. or if i owned more than 7k. but i'm like you, i'm don't to trade anything else in.
 
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