Is "gap" coverage on a car loan worth it? This would be through UCCU

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May 5, 2015
12:13:04pm

Cosmo Kramer

It would add $330 to a $9000 loan.

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Cosmo Kramer

Previous username: GoCougies
Bio page: Cosmo Kramer
Joined: Jul 29, 2005
Last login: Apr 7, 2024
Total posts: 26,384 (1,390 FO)

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Messages

Author

Time

Is "gap" coverage on a car loan worth it? This would be through UCCU

Cosmo Kramer

5/5/15 12:13pm

What do you think the chances of you totaling your car in the next year or two

crack

5/5/15 12:16pm

No.

byubyu

5/5/15 12:17pm

Seems like a pure money grab to me.

Left Shark Coug

5/5/15 12:19pm

Almost pure profit for the lender.

Cougar-Duck

5/5/15 12:24pm

You can usually get it through your car insurance as well

jaromp

5/5/15 12:45pm

Depends on the loan to value on your car...

Tokolosh

5/5/15 12:45pm

Check with your insurance agent. We offer gap at my company for about 2-3

Ycrazy

5/5/15 1:19pm

Has anybody ever collected on said coverage? Just curious.

Left Shark Coug

5/5/15 1:25pm

I've seen it used several times...

Tokolosh

5/5/15 1:29pm

Yes, a few times in the 13 years I have been here, but it is rare which is why

Ycrazy

5/5/15 1:30pm

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