A Tesla Cybertruck owner shares his truck was totaled after it was sideswiped by an E-scooter. However, the insurance company is only offering to pay him a “fair market price” of $77K, even though he paid $198K for the truck and still owes the bank $171K.
Every insurance is a scam right up until you need it. Gap is cheap as hell and if you can’t budget for it you should have the cash in hand to replace your vehicle.
For what it ACTUALLY pays and how long it lasts, it is extremely expensive. Most people it is good for 3-4 months and that’s only if they don’t put ANYTHING down. Trade in a car? Put money down? GAP is useless.
And every month you go without totaling your car it is worth much less.
And if a car/truck depreciates enough driving off the lot for GAP to make sense. You’re paying too much for new and should buy used if you want that particular model.
Yes every month I don’t use it. The month I did use it I’ll be pretty happy won’t I.
You “won” the lotto, good for you?