When to Get GAP Insurance

GAP insurance is intended to cover any gaps that your insurance company may leave behind in the case that your car is totaled or stolen. Your basic car insurance will cover the cost of what your car is worth and not what you still owe in car payments. So if your car is worth $10,000, but you owe $15,000 then your insurance company will pay only $10,000. You will have to come up with the rest, and that is a bad deal. If you think that you may need extra coverage, our financing team will be able to help you with that.

There are few occasions when you don't need to get GAP insurance. One of these occasions will be if you're buying your vehicle but have put down a hefty down payment. In that case, you may not need to get GAP insurance. Otherwise, you should get it. Contact us to learn more.

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