has anyone bought the gap insurance offered by nissan??? i bought it for my maxima at the time of purchase. it was around 300. i didn't check with my insurance to see if was cheaper , i was kinda put on the spot. so i went for it. sounds like a good deal if you max gets waxed(totaled). thanks.

 

I got gap insurance from my insurance company, only like 5-10bucks a year

 

I got it..it was relatively cheap..I figured ill be upside down on my maxima for a while(owe more than blue book loan value).so if the max gets totaled or stolen they pay off the full amount I owe!!

 

I got it through my credit union. They never sent me anything else about it, its just on the contract.

 

not needed with a large downpayment. If I did need it, I would check with my insurance co before I bought anything from nissan

 

Didnt have it + totaled car = 3grand in the hole

Jonathan Marsh

 

I also made a large downpayment and do not need gap insurance. With only making a small downpayment, you would be upside down on your loan as soon as you drive the car off the lot.

 

I kind of figured it out from your posts, but just need clarification. What is gap insurance and what all does it cover?

Thanks,

 

covers the GAP between your loan balance and the value of your car.

example:
Buy a car for 25K with tax is 26K, drive it off the lot and its now worth 23K. Total it in a week the insurance is goig to give you 23K and you owe 3K out of your pocket. GAP covers that.

 

I had just purchaced brand new 93 mazda B2600I 2wd excab pickup, lowered with a stereo. 3 Months later I go out and my truck is gone. I call the local cops (Prince William County VA) and they tell to call the State police b/c my truck was towed. I call them and they tell me to call the secondary VA state police. So I finally get in touch with the office doing the case and he tells me that my truck was involved in a collision .............with a frieght train I said " A F#CKING TRAIN HIT MY TRUCK!?!?!?!?" He said to please calm down and too a statement. Side impact bars doesnt mean **** when it comes to a train. Anyway insurance covered 10500.00 of the 17000.00 loan and Gap Insurance covered the rest.