im thinking of an 05 e.b. 0%.. but i need to know did anyone get gap thru mitsu financing.. dealer wasnt sure, he will find out tommorow, but the suspense is killing me.. mitsu's site says they have it, but it doesnt state what the price is or how much it covers.. thanks all..

 

When I got my car that was one of the hidden costs they never mentioned, It was like $500 on top of the price of the car, I just had them cancel it since My insurnace covers that.

 

They offered it to me when I purchased my car a few weeks ago. Pretty pricey, it was something like $600. I refused it and then got it through my own auto insurance company which already covers it. Gap insurance is worth it if you don't already have it covered but the dealer's insurance is kinda overpriced.

 

when i bought my 04 they said I had to get it, no option not too, plus its a must cuz if your new to an evo you will find its limits soon enough.

 

was that $200 for the year or the life of the loan?

i guess it would only matter for the first couple of years max,
since after that you should have the car paid down below what
it's worth.

 

Umm. your insurance will cover it. Mine does. It's just another dealer upsell that you don't need. You should have seen the guys face at the dealer when he asked me about GAP insurance. I said my insurance company is providing it. Thanks. Now give me the keys

 

wow quick responses.. what ins. do you guys have... my other bank that i bought my 03 through, gave me full coverage gap for 250.. but it was at 6% interest.. now mitsu is 0% percent so im stuck with mitsu.. my bank will only do me 3.0 this time.. but i dont want to pay for gap that wont cover the whole loan..

 

Gap insurance is for the life of the loan.

 

Yes I took the gap insurance, I paid $300 bucks.

 

nope second one..

 

I purchased my Evo 2 weeks ago and financed through MMCA. Gap insurance was of course a must! It was about $290, my monthly payments went up $4 just for Gap ins. (72 months).

 

does it cover the entire loan if the car is totaled..

 

For all you guys that bought it through your insurance you might of made a mistake!

Most GAP that dealers offer covers you UPSIDE DOWN and your DEDUCTIBLE. So if GAP though a dealer is $500.00 and your deductible through your car ins is $500 (+ paying extra on your ins) then you just paid MORE!

 

Yes, up to 150%

 

maybe its diff. in other parts of the country but in this state no ins. offers gap, only the bank...