Are gap and warranty insurance worth it?

I am thinking of getting a new car and want to make sure I don't pay for anything I don't need. I am reading some pretty bad stuff about warranties and gap coverage. Still, the Kia dealer is adamant that I need to have both.

Apr 29, 2021
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Shannon Martin
Answered at Apr 29, 2021
“Whether or not gap insurance is right for you depends on your credit score and how long you plan to keep your car. If you have good credit and can get a car loan with a very low interest rate, you may not need it.
A low interest rate means you will probably not be upside-down on your loan and won’t use the coverage. If you plan to keep your car for only two to three years before upgrading again, your car won’t depreciate that much.
As far as the warranty goes, it can be a good idea. Investigate the cost of ownership for the vehicle you are interested in and see if getting a warranty makes financial sense.
Kia is known for their fantastic warranty plan, which is why the dealer is pushing it so hard. Also, he will get a bigger commission. But not all warranties are created equal, so other manufacturers may not have one that is as generous.”
KiaGap InsuranceCar Insurance
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