Is it worthwhile to get gap insurance on a new car purchase?
Mercedes C300, Price is $38,000 . I will be paying $7,000 as down payment and financing $31,000 over 72 months. Gap insurance will cost me about $4.15 per month and the total is $299
You will lose over $7,000 the second you sign the dotted line. If you total it pulling out of the dealer lot you will be expected to pay that amount, so YES -- if you are dumb enough to finance a new Benz then you should get GAP.
Is it worthwhile to get gap insurance on a new car purchase?
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