Tacoma depreciation and GAP insurance

Why does toyota force gap insurance into a lease? Because they know the value of it. get it. It's cheap and works. Even if you pay $300 for it, and let's say you're payoff is $1500 more than insurance will give, the deductible on your insurance is $500 so you now owe $2000. Very realistic numbers. Gap takes care of that and you're good to go.

 

NEVER BUY ANYTHING FROM THE DEALER/BANK/LOAN OFFICER.

Hell don't even finance through the dealer, they HAVE NEVER HAD GOOD RATES in any of my car buying trips.

My 05 which I just bought they offered me 9.2% for 48... because it's old. My bank gave me me 3.1%... go figure.

Watch out for other add in garbage.


Lifetime Highway Assist for $500
Glass Etching/Theft for $450
Gap insurance $350

If you need GAP insurance (ie because buying a new Cavalier for $17,000 on a 60 month loan but it is worth $5,600 in 2 years) then that should be a strong indicator that you should not buy such a car.

 

It's just like any other insurance. Try and figure out how much the hit will be if you total the truck and don't have it. If you could absorb it, and you feel it's unlikely to actually happen, maybe you don't need it.