replacement insurance

[miro1118]

Just leased a 2004 limited. My dealer tried to sell me insurance that would get me in a new vehicle in the case of a total loss. I know I should stay away from these post sale deals but this one sounded interesting. I figure that this will protect my down payment from being lost.

Anyone have any input.

[wwh975]

Are you talking about gap insurance? My opinion is that you can get it from the dealership or ask your insurance agent. They can offer it to you as well for maybe less.

[miro1118]

I don't think that this is gap insurance. Gap insurance pays the car off if you owe more than the car is worth. This insurance pays the difference for you to get a new car 30 days after the theft.

I already went ahead and purchased it but am still interested in other peoples opinions.

Thanks

[sobol]

Originally Posted by miro1118

I don't think that this is gap insurance. Gap insurance pays the car off if you owe more than the car is worth. This insurance pays the difference for you to get a new car 30 days after the theft.

I already went ahead and purchased it but am still interested in other peoples opinions.

Thanks

I purchased Gap insurance on my Durango 2004 when I bought it last Monday. I was not offered other insurance except extended warranty, Which I declined. These cars depreciate 15,000 dollars in first year if you pay sticker price like I did. My trade was upside down as the dealer put it.

Robert