GAP insurance
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Entirely depends on where you buy it. Car dealers charge absurd markup. Example: the dealership offered us at $850 for the fully loaded SEL (so MSRP about $4k less than limited) but we can get it from our credit union for $299. Your insurance may offer something similar for a few bucks a month, which you can then cancel when you don't need it anymore.
I bought my Palisade and the dealer paid for GAP insurance as an incentive and the price reflected on my sales contract was $328. They reduced the sale price of the car and then added the GAP ins fee in. They needed to show this as a sale for accountability purposes.
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They quoted me $850 at first so I refused to buy it and then they requoted me $495. I’m not sure that’s an ok price? How much is everyone paying for it?
Welcome to the forum
After I listed this question on here and asked at my dealership. The dealership
told me that since it was financed or leased from Hyundai financing The Gap
Insurance was included at no charge by Hyundai.
You might want to check with Hyundai Finance for sure. Not sure if Hyundai
includes this for everyone or the dealer did it for the sale.
No sense in buying if it is included and dealer is just trying to make some money
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Oh my- I had no idea! I am financed through Hyundai and I know they’re already making a buck because of higher interest rate.
I’ll give Hyundai Finance a call now. Thank you for sharing!
I’ll give Hyundai Finance a call now. Thank you for sharing!
Please let us know what they say. That way we will know if it was Them or our dealership gave us the GAP as part of our purchase
All I can say is that was what the dealer told me
Did you purchase or lease? That might make a difference also
Almost every brand (except Toyota Financial) includes gap coverage as part of their leases.
If you're not leasing and are interested in gap coverage, always start by talking to your car insurance company. They tend to be an order of magnitude cheaper than gap through the dealer.
If you're not leasing and are interested in gap coverage, always start by talking to your car insurance company. They tend to be an order of magnitude cheaper than gap through the dealer.
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