Greetings!

I just took delivery of a 2008 4Runner Limited. The Toyota dealership "Financial Consultant" was really pushing Toyota's Gap insurance and Extended Warranty. IMO the extended warranty is a money-making tactic for the dealerships; it seems that these vehicles have a pretty good reputation for quality even beyond their standard 3/36k bumper-to-bumper warrany. So I am inclined to dismiss it.

The gap insurance is a little more intriguing. For those unfamiliar with the idea, basically this insurance will cover the difference between what you owe on a vehicle and what your insurance company will pay in the case of a total loss. For instance if you owe $15,000 on your ride and it's stolen or totaled in a wreck, insurance may pay only $9,000 (what they say the vehicle is worth); then you alsohave to pay a deductible of say $1,000, so you're out $7,000! The Gap isnurance will cover this, so you owe zip.

I'm curious to get a consensus on these two extras. Would it be worth it to purchase one or the other, or both?

Thanks.

 

yeah I think its worth it, I have it on my vehicles.