Do you need GAP insurance when buying a used truck from a dealer?

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Answers:

I've never owned a car. Would it be a good idea to get one?

GAP insurance is good if you dont overpay for it, typically a good gap contract should be around $200-250, no more

Is it worth bringing a car from Bahrain to the State?

also, if you are putting money down, like 20%, you dont need it. If you are not putting any money down and financing taxes, etc, into the deal, it is wise if the Gap is cheap

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I want to buy a used car, where should i look (online) for local listings?

im a dealer, and i have gap on both of my cars. i WOULD NOT buy a car personally w/out it regardless if its new or used. as far as the cost im going to disagree w/ the other guys answer. my cost on gap ranges from $150 to $300. i retail it for $500 to $700. even if you spend $700 on it, its still a bargain. very rarely will i sell it for less than $400 because it sells itself and $200 profit is not very much honestly. the average gap claim is $3000. and i've had 2 customers this year alone have gap claims in excess of $5000. one almost $12000. (balance on truck $33000, insurance paid $21745, balance of $44000, insurance paid $33,000) the cost of gap has gone up quite a bit since i first started selling it mainly because claims have risen. if you total your car/truck in the first 2 to 3 years (depending on how long you financed) you can almost bet your insurance company is not going to pay off the full amount.
keep an eye on the values of your vehicle, if you get to a safe point, you can cancel the policy and they will prorate a refund for you.
if you lease the vehicle, your crazy not to get it, as you will have to pay off your lease contract and the residual amount that you havent paid a dime towards.

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