Where to get GAP insurance on high APR auto loan?

Where to get GAP insurance on high APR auto loan?

Hey all. I was an idiot and bought a car at DriveTime. They sold me the car at 21% APR. I am very upside down on this auto loan and need to get GAP insurance just in case. Every provider I'-ve found limits 12.5%. Anyone know of any other providers which have a higher APR limit? Thanks.

gustavoandkimberly

you may want to consider refinancing to a lower apr and then adding gap, if you had the auto loan at least 6 months with on time payments you should be able to

mbrcatz

Wow, well, have you called the insurance company where you insure the car? That's probably the BEST place to get the gap from.Although they won't cover any negative equity rolled into the loan.Besides that, either drive very, very carefully for the next three years, or sell the car/cancel the deal - even if it costs you. Sounds like it's going to cost you about three times what it should, anyway.Source(s):agent, 21+ years

ricks

GAP is not always issued after the loan is. Many places have a 30 day period after you make the loan. You did not say how long ago you bought the car. If it has been more than 30 days, your best bet would be to consider a re-fi with your bank or credit union. They will also have GAP insurance.I am surprised that the dealership didnt sell it to you, they usually get a cut from it which is why it is higher than if you get it from your bank or CU. Maybe they felt bad about sticking it to you with the rate & thought GAP would be too much.

Ask

insurance

Popular Q&A

Where can I find an online newspaperthat allows teens to write journalism articles for it?
Hey dude, i just found an awesome articles site. http://worldwebportal.co.cc/The site has got numerous articles on all of the following topics....Its awesome dude..i m loving it...For u i hav copied the indexpage of the site http://worldwebportal.co.cc/ . Hav a look, i msure u wud lov it too...

Why is AAA membership more in some areas?
I'm not sure but maybe your membership covers one person and theirs covers two people. I know I paid a different amount in NJ than in Ohio, but I thought all of Ohio was the same price depending upon level and number of people.BTW, I just paid $49 to renew my regular AAA membership in Cuyahoga...

Does anyone know where i can find a place to buy salvage autos or repairable autos in California?
just about any towing company in the state will have cars and trucks for sale as is, you'd be surprised how many people don't pick up there vehicles after being towed. there nice ones they put out front for sale at quite a nice profit, but some of the best deals can be made in the back lot...

What are the pros and cons of opening up a car Insurance business in California?
Pros:Everyone who owns a car needs to have insurance so there is a huge market.Decent commissions.Cons:You can't just open up a car insurance business offering any insurance company you choose. You must be contracted with each carrier. Companies don't simply hand out agency contracts to anybody...

How do to set up a business type landline system like in allstate insurance?
I think you have asked this question in the wrong section.You would need to buy a phone system, and there are many available for small business, and probably great deals can be found in the used market as well. (Lots of obsolete but usable equipment available.)The first question you need to...