Wachovia Dealer Services (formerly WSF Financial Inc)and Beacon Industries Worldwide (a Zimmerman Co GAP -total loss protection Plan-A brilliant Scam,Auto dealers sell it, Banks profit,hire a claims administrator to hide behind,and NOT ONE GOVERNMENT AGENCY TO REGULATE IT Irvine California; Fort Lauderdale Florida

I wanted to make sure to respond to this post about gap insurance. Gap insurance is an optional product. It is an insurance product in some states and others it's not. Gap insurance in my opionion is the best thing you can get on your loan. I didn't want people to read this statement and think they don't need it or shouldn't get it. I buy gap coverage on all my loans and thats the truth. The salesmen buy it on their loans.
If your vehicle is totalled or stolen your insurance company is only obligated to pay the vehicles value, not to pay your loan off. I have seen people left owing 10,000 dollars without gap insurance on a loan they no longer have the car for.
In this day and age of long term financing 60,72 months and more, and little to no down payment most people owe more to the bank than their vehicle is worth. Consider for yourself if this is something of value to you and if so please purchase it.
http://thecreditdiva.blogspot.com

I wanted to make sure to respond to this post about gap insurance. Gap insurance is an optional product. It is an insurance product in some states and others it's not. Gap insurance in my opionion is the best thing you can get on your loan. I didn't want people to read this statement and think they don't need it or shouldn't get it. I buy gap coverage on all my loans and thats the truth. The salesmen buy it on their loans.
If your vehicle is totalled or stolen your insurance company is only obligated to pay the vehicles value, not to pay your loan off. I have seen people left owing 10,000 dollars without gap insurance on a loan they no longer have the car for.
In this day and age of long term financing 60,72 months and more, and little to no down payment most people owe more to the bank than their vehicle is worth. Consider for yourself if this is something of value to you and if so please purchase it.
http://thecreditdiva.blogspot.com

I wanted to make sure to respond to this post about gap insurance. Gap insurance is an optional product. It is an insurance product in some states and others it's not. Gap insurance in my opionion is the best thing you can get on your loan. I didn't want people to read this statement and think they don't need it or shouldn't get it. I buy gap coverage on all my loans and thats the truth. The salesmen buy it on their loans.
If your vehicle is totalled or stolen your insurance company is only obligated to pay the vehicles value, not to pay your loan off. I have seen people left owing 10,000 dollars without gap insurance on a loan they no longer have the car for.
In this day and age of long term financing 60,72 months and more, and little to no down payment most people owe more to the bank than their vehicle is worth. Consider for yourself if this is something of value to you and if so please purchase it.
http://thecreditdiva.blogspot.com

I wanted to make sure to respond to this post about gap insurance. Gap insurance is an optional product. It is an insurance product in some states and others it's not. Gap insurance in my opionion is the best thing you can get on your loan. I didn't want people to read this statement and think they don't need it or shouldn't get it. I buy gap coverage on all my loans and thats the truth. The salesmen buy it on their loans.
If your vehicle is totalled or stolen your insurance company is only obligated to pay the vehicles value, not to pay your loan off. I have seen people left owing 10,000 dollars without gap insurance on a loan they no longer have the car for.
In this day and age of long term financing 60,72 months and more, and little to no down payment most people owe more to the bank than their vehicle is worth. Consider for yourself if this is something of value to you and if so please purchase it.
http://thecreditdiva.blogspot.com

I bought a 2005 Kia Sedona van in July 2005 and paid way too much for it - the dealer really stuck it to me. I bought gap insurance from Beacon Gap through the dealership for $495 at the time I bough the van. So, this past November I was hit by a tractor trailer and the van was totalled. At this point, it had 110,000 miles on it and I still owed $16000!. My insurance company paid $6400 on it, so I'm left owing about $9600. I was pretty worried. Beacon sent me a pretty long list of documents I had to provide - it took a couple of weeks but I got all of them together. They told me it would take 20-30 days to get everything processed. It actually took a little over 30 days, but I just heard back from them a couple of days ago that they are paying it off in full. My experience with them was totally different from the other report on this website - I almost always got a lilve person on the phone, and if not, they always called me back the same day. Maybe they're trying to improve their customer service, or maybe I just got lucky, but I had a good experience with them.