A History Lesson on Paying over MSRP

[Priapism]

I posted this in another discussion before I found this conversation. Apologies for the double post but would like your thoughts.

The biggest danger or risk I see in paying these inflated or marked up prices is this....What if you total your Telluride tonight on your way home from work. You come around a corner at 60mph and Bam right into huge rock slide. Car is totaled. What is your insurance coverage going to do for you? Even GAP insurance (I believe) won’t help recoup the inflated price you paid for the car. I would like to hear from those that have paid over sticker and how they have safe guarded themselves in this situation. Thanks

 

[mrmac]

I posted this in another discussion before I found this conversation. Apologies for the double post but would like your thoughts.

The biggest danger or risk I see in paying these inflated or marked up prices is this....What if you total your Telluride tonight on your way home from work. You come around a corner at 60mph and Bam right into huge rock slide. Car is totaled. What is your insurance coverage going to do for you? Even GAP insurance (I believe) won’t help recoup the inflated price you paid for the car. I would like to hear from those that have paid over sticker and how they have safe guarded themselves in this situation. Thanks

This is dependent on your selected coverage. If You have replacement cost coverage, you will be covered for the cost of getting your vehicle replaced at market value. Market value if what people are paying in your area.

Most GAP coverage is good for up to 25% excess loan payoff over market replacement cost.

I either instance above, you will be okay because insurance is looking at market value and not the fictional figure known as MSRP.

If you go el-cheapo and pay for less than replacement cost coverage - you will be screwed.

Therefore the biggest risk in this market if someone totals out their Telluride is the number of months between the accident and being in receipt of a replacement.

 

[II Kings 9:20]

I posted this in another discussion before I found this conversation. Apologies for the double post but would like your thoughts.

The biggest danger or risk I see in paying these inflated or marked up prices is this....What if you total your Telluride tonight on your way home from work. You come around a corner at 60mph and Bam right into huge rock slide. Car is totaled. What is your insurance coverage going to do for you? Even GAP insurance (I believe) won’t help recoup the inflated price you paid for the car. I would like to hear from those that have paid over sticker and how they have safe guarded themselves in this situation. Thanks

Yep. Also a good reason to put no money down on a lease.

On a side note, have you tried an 22 gauge needle?

 

[alexdrums]

I posted this in another discussion before I found this conversation. Apologies for the double post but would like your thoughts.

The biggest danger or risk I see in paying these inflated or marked up prices is this....What if you total your Telluride tonight on your way home from work. You come around a corner at 60mph and Bam right into huge rock slide. Car is totaled. What is your insurance coverage going to do for you? Even GAP insurance (I believe) won’t help recoup the inflated price you paid for the car. I would like to hear from those that have paid over sticker and how they have safe guarded themselves in this situation. Thanks

Yes, you will eat the difference. So don’t do it. Just order it at MSRP or below from one of the dealers on this forum.

______________________________

 

[StephenCantrelle]

Yes, you will eat the difference. So don’t do it. Just order it at MSRP or below from one of the dealers on this forum.

Depends on gap coverage.. that’s like saying you eat the difference if you trade in a vehicle with 10k negative equity when getting the Telluride.. gap coverage should cover the difference

 

[alexdrums]

Yes, you are right GAP insurance would cover it...I never had this insurance so it is new to me.
But it seems like you would really be eating it if you paid over MSRP AND purchased GAP insurance.