Purchasing a 2010 Traverse LT1 at 17000. Mileage is 47000. Is it worth buying gap insurance?( 0 down at 4.7 apr)
I would because if you total it whay you owe will be more then the insurance company will give you http://www.bankrate.com/finance/insurance/car- gap-insurance-is-it-right-for-you.aspx
Exactly. Without gap insurance if it's totalled and the insurance company says that it's worth $10,000 but you still owe $12,000 on it you have to pay the $2000 out of your pocket to clear the title so the insurance company can take it. But with gap insurance the $2000 would come from the gap insurance company. HTH. -Jim
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