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12-08-2007, 04:04 PM
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I guess it would depend on how much the car is worth, and if you are willing to take a chance on carrying a loan even if the car is written off in an accident or fire. I would suggest you add the extra if you are going to carry a large loan. Also most financial institutions will require you to do so. This is because they want to protect their collateral,or interest in the vehicle. If the amount of the loan is small you may want to take a chance. Hope this helps.
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12-08-2007, 06:53 PM
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GMAC, as well as pretty much every other vehicle finance company, will require you to carry comprehensive and collision insurance. In most cases you must carry a deductible of $500 or less. If you're buying from a dealership and financing the car, they probably won't even let it leave the lot without proof of those coverages.
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