Is GAP insurance worth it?

Well, according to a car salesman named Joseph, the answer is a resounding YES.

He took to TikTok to explain why he feels this way.

Joseph talked about a customer and said that the woman’s car got totaled in an accident soon after she bought it. The customer didn’t have GAP insurance and the damages ended up costing her $3,500.

He told viewers, “The previous car she purchased was an Elantra. And she bought the car from me. Took time out, got her approved and I told her. I was very specific: do not leave that finance office without getting GAP insurance.”

Joseph continued, “She comes in and we look through her previous contract to see if she had GAP. And she did not get it. Her insurance valued her Elantra at $12,500 and she owed the bank about $16,000.”

Joseph added, “That’s a $3,500 swing. So even though she doesn’t have that car anymore, she still owes that money. Now in regards to the potential car that we’re trying to get into: I had my manager look through the inventory to see if there’s anything that would work. He tried for a Sonata.”

The new car cost $2,500 more than the Elantra and because of not having the GAP insurance, she would now owe $6,000 more.

Joseph said, “After about ten minutes, no luck at all. We struck out I could not get into another car. This is why I tell you guys do not leave the dealership without GAP insurance.”

Here’s the video.

@jrodsellscars

Don’t leave without GAP 🙅🏾‍♂️ #jrodsellscars #carsalesman #approved #dealership #carbuyingtips

♬ original sound – Joseph Rodriguez

And here’s what viewers had to say.

This person shared their thoughts.

Another individual spoke up.

And this viewer shared a story.

Some people think GAP insurance is a good idea…

And some people don’t.

Now that you’ve read that story, check out this one about a delivery driver who took a $400 grocery order back because she wasn’t given a tip.