Ok, I'm trying to find a good place to buy Gap Insurance that will last the life of my loan, 63 months. Anyone have some good suggestions? I got a great deal on my insurance through All State @ 655 6mo prem, (I'm 24). All State only offers up to 3 years coverage, which would leave me wide open the last 2 years. I don't want to pay the dealer 800 bucks for it. I've seen as low as 399 online, but I don't know if I trust the site. www.gapinsurancequotes.com and their contact person is just some chick in NY, sounds shady.

Any ideas?

 

I'd suggest asking Allstate if this GAP insurance can be renewable for the life of the loan. That or find another company that offers it for free when you ask for it.

 

If you finance for 63 months at a reasonable interest rate, you should have positive equity after 3 years even if you only put down a very small amount up front. You only need gap insurance if your loan balance is greater than the car's value. That won't be the case with this car so 3 year gap insurance will cover you just fine and save you some money.

 

Yeah you are probably right on that. Although take into consideration I've put 0 down, and had about 3000 in taxes. So the loan is currently 3k over the price of the car. I'll find out from All State if I can get the insurance renewed, its pretty cheap anyway.