I came into this article knowing that buying a new car is one of the least-savvy investments you can make, and after spending some time thinking about GAP insurance, I now think it's even crazier. For example, if you go out and buy a new car for, say, $50,000, you know that by the time you're finished paying it off, the car will only be worth a fraction of what you originally paid. It's the nature of cars. But even with this in mind, thousands of people not only purchase new cars, but they also get GAP insurance on top of all the other expenses, just to make sure they don't reallyend up on the losing end of things. I'll take the bus, thank you.
- Caucutt, Joshua. "What Is Gap Insurance Coverage for Cars – Is It Worth It?" Money Crashers. Nov. 9, 2011. (March 8, 2012) http://www.moneycrashers.com/gap-insurance-cars-worth-it/
- Crowe, Aaron. "Why Your Porsche is a Sitting Duck." FOX Business. Feb. 13, 2012. (March 7, 2012) http://www.foxbusiness.com/personal-finance/2012/02/08/why-your-porsche-is-sitting-duck/
- Edmunds.com. "Depreciation Infographic: How Fast Does My New Car Lose Value?" Sept. 24, 2010. (March 7, 2012) http://www.edmunds.com/car-buying/how-fast-does-my-new-car-lose-value-infographic.html
- Gusner, Penny. "What gap insurance does -- and does not – cover." FOX Business. June 24, 2011. (March 7, 2012) http://www.foxbusiness.com/personal-finance/2011/06/24/what-gap-insurance-does-and-does-not-cover/
- Insure.com. "Should you keep your 'totaled' car?" MSN Money. May 19, 2011. (March 9, 2012) http://money.msn.com/car-buying/should-you-keep-your-totaled-car-insure.aspx
- Reed, Philip. "Being 'Upside Down': Putting a Positive Spin on Negative Equity" Edmunds.com. March 11, 2005. (March 9, 2012) http://www.edmunds.com/car-buying/being-upside-down.html
- Weston, Liz. "What a car wreck could cost you." MSN Money. Sept. 17, 2010. (March 8, 2012) http://money.msn.com/auto-insurance/what-a-car-wreck-could-cost-you-weston.aspx