Can we take off GAP insurance?
Ok so we went to Ford Dealership and got a 2019 car.
We were gonna pay 479 monthly so it would be 27xxx after fees and all that.
Well before we signed the guy comes and tells my husband that there's the insurance Gap blah blah blah for 6 years but our payment would be 579 after. So i told my husband that it was up to him and walked off to my toddler. So he decides to get it which i was mad about. After he agrees we go to the back room to sign and all. The guy tells us all fast this is the monthly payment of 579 your purchsed this vehicle at 27xxx with 17 monthly payments. So my husband signed and as we got home i see that the Final price of the vehicle will be 41xxx!
I'm wondering that if i can go tomorrow at open time and ask if we can take off gap since its been less than 15 hours since purchase cus i mean if you really think about it its only for 6 years but the payment stays 579 after the six years of gap…, what would i be paying 579 for, after the 6 years has passed?
Probably not, as that's ALL profit for the dealer, and the dealer is the one who WROTE the paperwork YOU SIGNED.
Wow. GAP insurance is NOT what increased your cost from $27K to $41K. You are miserably ignorant of how car buying and financing works and I can't imagine how you got yourself into this mess.
Sounds like a GAP warranty that pays what the warranty doesn't. You let it up to your Husband so stay out of it. Let him have the buyers regret every monthly due date.
Someone named The Donald always reads contracts before he signs them. He claims, so I have been told, that he actually ENJOYS reading contracts. Perhaps that hobby of his contributes to his success.
There are zillions, or at least a handful, of videos on YouTube telling how to buy cars, and what tricks the auto dealers use against you all the while pretending to be your friend.
You can't do much about your current situation, but you can prepare for the future. You could try hunting for opportunities to make lots more money, but bear in mind that most of the ones you'll find on the Internet are rip-off schemes. "I make $638.17 every night while I sleep! You can, too!"
I'll bet the $41,000 is the total of payments, including interest.
They scammed you into buying insurance.
I'm unsure. I think you may be able to cancel but… Not via the dealer, via the provider. And, it won't lower your payments but it will reduce the balance on the loan. Its something you probably should still do.
Id like to have McCoy or The Real chime in to make sure I'm not off base here.
You could probably refinance in a year or 18 months and lower your payments at that time.
- I have a 1976 Ford F150 with a 390 engine. Can anyone tell me what the spark plug gap should be? Don't answer if you don't know. And don't answer if you are just trying to be a wise guy.