Quote:
Originally Posted by FRSure
Damn.. I have no Gap..
I put 6k Down..
20k Finance
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You wont need it. You're not going to accept $20k are you? What you are basically haggling for at this point is how much of your down payment is lost.
You owe the bank $20k, whatever is left is your for the next dp on the new car assuming it is totaled.
This is the only drawback to putting a large dp, having your car totaled/stolen within a short time after buying it(within 1 year). In this case GAP would have been useful, but it's a gamble that usually never wins. How often does your brand new car get totaled?
.
.
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Oh yea, you still have to make your car payment even if it is totaled. Don't worry though, every dollar you pay is one dollar less out of the payout check you owe.