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Do You Need GAP Insurance? Edmunds.com Advises

Edmunds.comEdmunds.com Member, Administrator, Moderator Posts: 10,316
edited September 2014 in General

imageDo You Need GAP Insurance? Edmunds.com Advises

SANTA MONICA, Calif. — January 15, 2010 — If your vehicle gets stolen or totaled while you owe more on the loan than it's worth, having GAP insurance guarantees that your full loan will be paid off.

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  • sheikh2sheikh2 Member Posts: 2
    On December 18, 2013 I leased a Toyota Avalon Hybrid from a local dealer. While signing the finance docs. I was advised to purchase Gap Insurance and that I may have up to 72 hours to decide. When I returned 2 ½ days later (about 60 hours), I was informed that the car has been financed and I would not be able to add Gap Insurance.
    Since then I have been frantically, to no avail, shopping online and in person to find a provider who would sell me Gap Insurance. I even called State Farm (my original insurance provider without any luck.
    Does anyone know of an agent or a provider who’d sell me the Gap Insurance?

    Thanks.
  • sheikh2sheikh2 Member Posts: 2
    On December 18, 2013 I leased a Toyota Avalon Hybrid from a local dealer. While signing the finance docs. I was advised to purchase Gap Insurance and that I may have up to 72 hours to decide. When I returned 2 ½ days later (about 60 hours), I was informed that the car has been financed and I would not be able to add Gap Insurance.
    Since then I have been frantically, to no avail, shopping online and in person to find a provider who would sell me Gap Insurance. I even called State Farm (my original insurance provider without any luck.
    Does anyone know of an agent or a provider who’d sell me the Gap Insurance?

    Thanks.
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