Originally Posted by Bluepill
Gap seems to be the latest scam at dealerships anyway. Had one try to sell me a policy for $850 even though I put down 1/3 as a down payment and would never be "under water" as far as value vs. remaining debt.
I don't know that I'd call it a scam exactly. You don't have to get it through a dealer. You can get it much cheaper on your own from your own insurance company.
The problem is that you're the exception in putting 1/3 down. So many people buy more than they can afford without putting any money down and then they are upside down from the day they pull out of the dealer's lot.
The problem with insurance is that nobody wants it or wants to pay for it... until they need it.