Have you guys heard of this offer from the dealers? My boy just bought the new Civic Si and got Gap Insurance and Vehicle Replacement. The vehicle replacement is if your car is stolen the gap pays for it and then they replace the car for a new one no matter how many miles are condition the old one was in and your payments stay the same with the new car and for the same term. So he is thinking of getting it stolen in 3 yrs to get a new Si if it's out. I'm hoping to get pics with it tomorrow if his wife doesn't take it again ...

 

nope never heard of it...

 

Get it stolen in 3 years??

Do I hear insurance fraud?

 

Ya sounds like a great idea....your friend is part of the reason why I have to pay so much insurance. Also, posting on the public car forum with your bright idea only makes more sense.

GAP insurance is usually only required on leases and the people who pay the extra for it on their finance purchase usually are the same people who put $1000 down on a new car.

I never heard of this vehicle replacement thing for the gap insurance, but im sure the premiums are high to cover that....sounds like the salesman was a quick talker

 

people like that need to be locked up!

I got the gap insurance due to the miles i put on a car vs its value to loan (as precaution) ive had 1 car totaled by a deer. I wasnt able to luck out on the TL with it.

 

I highly doubt he does that it's just something he said. He wasn't gonna go for it until as we all know the B16 Civic Si's were stolen left and right. Gap insurance only pays for the car but doesn't get you a new so you need to come up with a down payment all over again. I like it since it gives you a new car no matter how far along in your term you are at and if the car has a new body style during that period you get that car.

 

if thats the case, why not do it with a more expensive car, then sell it afterwards...

 

x2
oye platanito. what happened to your CL?

 

Traded it in, now it is someone else's problem

 

And what if that model is discontinued? They will find a junker and restore it for him?

That's what the Gap is for, man. So you don't end up upside down on the loan. From there, you buy whatever you want with the money. It's STUPID to look years down the road, and lock yourself into that specific model. There could be better cars at that time for the same money.

If this program really exists, then it's only to make money for the dealerships/financiers. What a farce.

 

 

Yeah I'm pretty sure its not a good idea to put vehicle replacement on a Hyundai but an Si I think it's good and since honda has made Si's for years I don't see them all of the sudden stopping

 

The Si sort of comes and goes, actually.

But let me say this: It's going to be hard to enjoy any car, Yugo or Maybach, from a jail cell. Insurance fraud