From what I remember, my gap insurance covers up to $15,000. Call the dealer for more details.

 

GAP insurance all depends on the company... Give them a call, it wont hurt

 

I got Gap Insurance because the finance lady told me that no matter how much I owed on my car, if it got totaled the gap would cover whatever the difference was between what the insurance company gave me and what I still owed on the car. Gap insurance has nothing to do with your car insurance and everything to do with your dealer. I agree with the others, contact your dealer.

BTW Hope she is ok!

 

Why are they only giving you 32.2k? Insurance is supposed to give you the full retail value of your car. According to KBB the retail value of an 06 IS350 with the standard options and 15,000 miles is $35.5k and would go up higher if she had any extra options like sport or luxury packages, etc.

 

dont let her get behind the wheel of your car...lol but i dont know about lexus insurance u have to call them

 

How the hell did she end up almost 11,000 upside down?

 

I totally didn't understand what the sales mgr was explaining to me about the gap insurance but I later looked into it to know exactly what I was paying for. From what I was told, the whole balance should be covered.

 

My gap insurance covers everything owed on the car after the insurance covers it....i think i got GAP platinum or something but supposedly after that is all done i am allowed to choose the same car from the dealer and resume my payments with no extra costs.

 

My gap insurance also covers the difference so I don't have to pay anything out of pocket. It's good to be always prepared.

 

That sucks but i hope Gap covers the gap

 

who exactly do you buy gap insurance from, the lender or your insurance company? i guess this is something you have to get when the car is new?

 

I was offered mine when I first bought the car, but I'm sure there are plenty of aftermarket insurance companies that offer this.

 

Because that's what insurance companies do!! My wife totalled our B7 S4 with only 10,000 miles on it and there was a gap of $11,000 from what the value of the car was to what they offered. Most insurance companies are crooks!! Remember, they're a business. They don't like paying out, but they sure like collecting money for doing nothing.

 

Have you never heard of a not at fault wreck. You could be right but don't jump to conclusions

 

+1 on what Chemwarrior said. They should offer it when you buy the car at the dealer, but I'm sure there are other ways of getting it. You may even be able to call the dealer back after buying the car and buy the Gap.