what kind of deal did it get?
10-16-2004, 12:01 PM
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what kind of deal did it get?
ok. guys..
i purchased my brand new 2004 Acura TSX Navi auto trans in August 2003 for this price.
vehicle selling price is $26,521.09 plus tax, lic, doc fees, dmv fees.. Grand total 28,990 out the door add 895 for Acura Care 5 years/100k xtended warranty with zero deductible, and GAP for 500. and my interest rate with American Honda is at 4.99% for six year loan.
i purchased my brand new 2004 Acura TSX Navi auto trans in August 2003 for this price.
vehicle selling price is $26,521.09 plus tax, lic, doc fees, dmv fees.. Grand total 28,990 out the door add 895 for Acura Care 5 years/100k xtended warranty with zero deductible, and GAP for 500. and my interest rate with American Honda is at 4.99% for six year loan.
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10-16-2004, 11:09 PM
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what is gap? not the gap between your legs! GAP stands for Guarantee Auto Protection Plan.
If you have GAP, it will pay off the difference between your insurance payout vs. your loan payoff.
example: you total loss your tsx today. you owe the bank 28k and due to high miles, etc. insurance payout 23k. the GAP will pay the difference of 5k, plus pay for your deductible and 1000 for your new car replacement too. no one want anything happen. no one can predict the depreciation. and also... you lose more if you put down and total loss in a few months...
if this happens, and you have no gap, you pay the difference of 5k and no car.
whenever a car mfr have special incentives or rebates, it will do the same to the old ones. for example new camry have 1000 rebate. than all one one will have a hit of additional depreciation of 1000 too!
If you have GAP, it will pay off the difference between your insurance payout vs. your loan payoff.
example: you total loss your tsx today. you owe the bank 28k and due to high miles, etc. insurance payout 23k. the GAP will pay the difference of 5k, plus pay for your deductible and 1000 for your new car replacement too. no one want anything happen. no one can predict the depreciation. and also... you lose more if you put down and total loss in a few months...
if this happens, and you have no gap, you pay the difference of 5k and no car.
whenever a car mfr have special incentives or rebates, it will do the same to the old ones. for example new camry have 1000 rebate. than all one one will have a hit of additional depreciation of 1000 too!
10-16-2004, 11:33 PM
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Originally Posted by achan268888
what is gap? not the gap between your legs! GAP stands for Guarantee Auto Protection Plan.
If you have GAP, it will pay off the difference between your insurance payout vs. your loan payoff.
example: you total loss your tsx today. you owe the bank 28k and due to high miles, etc. insurance payout 23k. the GAP will pay the difference of 5k, plus pay for your deductible and 1000 for your new car replacement too. no one want anything happen. no one can predict the depreciation. and also... you lose more if you put down and total loss in a few months...
if this happens, and you have no gap, you pay the difference of 5k and no car.
whenever a car mfr have special incentives or rebates, it will do the same to the old ones. for example new camry have 1000 rebate. than all one one will have a hit of additional depreciation of 1000 too!
If you have GAP, it will pay off the difference between your insurance payout vs. your loan payoff.
example: you total loss your tsx today. you owe the bank 28k and due to high miles, etc. insurance payout 23k. the GAP will pay the difference of 5k, plus pay for your deductible and 1000 for your new car replacement too. no one want anything happen. no one can predict the depreciation. and also... you lose more if you put down and total loss in a few months...
if this happens, and you have no gap, you pay the difference of 5k and no car.
whenever a car mfr have special incentives or rebates, it will do the same to the old ones. for example new camry have 1000 rebate. than all one one will have a hit of additional depreciation of 1000 too!
10-16-2004, 11:57 PM
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Gap is actually an excellent idea....if anything happens to the car...i.e....total loss, theft etc....you walk away totally clean. My dealer offered gap at $500.....when I went to finance the car through my credit union they offered $150.00 GAP. Of course I went with the credit union price. It's not a come on...I feel it is a small price to pay for peace of mind. Not a bad price for the extended warranty...I turned my dealer down for that one...they wanted $1,600. How's the car doing almost a year later????
10-17-2004, 02:53 AM
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Originally Posted by Titan30
Gap is actually an excellent idea....if anything happens to the car...i.e....total loss, theft etc....you walk away totally clean. My dealer offered gap at $500.....when I went to finance the car through my credit union they offered $150.00 GAP. Of course I went with the credit union price. It's not a come on...I feel it is a small price to pay for peace of mind. Not a bad price for the extended warranty...I turned my dealer down for that one...they wanted $1,600. How's the car doing almost a year later????
10-17-2004, 04:56 PM
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Sure...you have insurance, if you have a total loss (theft or accident or mother nature)....they will only pay the bluebook value on the car...thats it...nothing more.....so like many of us who buy new cars...you are upside down for awhile until you get further into your loan period....the gap ensures the entire car loan is paid off...regardless of bluebook. From someone who is dealing with the aftermath of a hurricane and learning about insurance companies....you learn very quickly that it is hard to get insurance companies to even give you what your policy calls for. Anyways...to each his/her own. To me $150.00 is a nominal extra cost when financing a car.
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