With all of these Rs getting stolen, someone mentioned to me if I have gap insurance. Say your R gets stolen and the insurance company says it's worth 20K, but you owe 22K on it. Then what? You take one up the *** or is there sometime that prevents this from happening?

 

Gap insurance pays the difference if the insurance company will not pay the full amount. If not you have to take it up the *** and pay.

 

Can you get gap insurance with a normal car loan, or is that just for leased vehicles?


Pat, who owes less than $9k on #9

 

We have gap insurance on the R, and will soon have it on "the hatchback" as well.

We own the hatch, and owe on the R (purchase, not lease).

 

Not sure about leased vehicles but I know for sure you can get it on regular vehicle loans. It was offered to me when I bought my R.

 

make it easier on yourselves. Get an insured value policy... This means that you guys decided how much the car is worth and you WILL be paid that amount. Yes you can insure your mods this way as well. You will probably have to have it aprraised and show recipts, but you can be reimbursed for mods this way.

 

My gap insurance was only $200 added to my loan.

 

At my work we charge $395 for Gap Insurance. Honestly, it is VERY worth it for ANY new car, as it will depreciate much faster than you can pay it off, if you do a 'normal' 60month loan.

 

It was only $45 added to the loan on my girl-friends car.