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GAP

Discussion in 'Model S' started by Lobstakilla, Dec 14, 2016.

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  1. Lobstakilla

    Lobstakilla Member

    Joined:
    Oct 31, 2016
    Messages:
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    Location:
    Scottsdale
    I just got my loan finalized with Alliant and it couldn't have been easier. I used Mark based on the experience others have had using him. He was great to work with and the whole process took less than 10 minutes.

    My question is this, are most people adding the GAP coverage? This is my first new car purchase and it sure seems like a good idea.

    Any help or comments would be greatly appreciated.
     
  2. ev-now

    ev-now Member

    Joined:
    Jul 30, 2015
    Messages:
    441
    Location:
    Denver, CO
    Depends how much you are putting down, and how long you intend to keep it. I got GAP through my insurance as it's pennies per month ($1.50 I think) and can be cancelled at any time. GAP thru the loan is usually rolled in, and therefore full term - and not required towards the end of the loan unless you really abuse your 'S'!
     
  3. ZAKEEUS

    ZAKEEUS Member

    Joined:
    Feb 10, 2016
    Messages:
    262
    Location:
    Denham Springs, Louisiana
    Just got off the phone with Alliant, I got GAP with them. If I use it once it pays for itself.
     
  4. CHG-ON

    CHG-ON Still in love after all these miles

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    Location:
    Santa Cruz Mountains, USA
    If you are financing, do it.
     
  5. sdorn

    sdorn Director of Awesome

    Joined:
    Oct 9, 2016
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    Georgia
    Just in case anyone is interested, I confirmed with Tesla Leasing that GAP protection is built into the lease. If you carry the minimum insurance coverage required under the lease, the car is totaled, and they receive a settlement from your insurance company for less than what is owed on the car they cover the difference.
     
  6. DarkMatter

    DarkMatter Member

    Joined:
    Jul 13, 2016
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    545
    Location:
    Olympia, WA
    I paid for Gap through my insurance when needed. It was a tiny fraction of the cost of the rolled-in profit center that is the Gap they offer with loans.
     
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