Do You Need Gap Insurance When Buying A New Car File

You already have in the vehicle (the car is worth more than the loan balance). Where Should You Buy It?

If that new car is stolen or totaled in an accident, standard insurance only pays the —what the car is worth today , not what you paid or what you still owe. Gap insurance (Guaranteed Asset Protection) bridges this divide by paying the difference between your insurance settlement and your remaining loan balance. Who Should Get Gap Insurance? do you need gap insurance when buying a new car

Loans stretching 60 to 84 months mean you build equity slowly, often falling behind the car's rapid early depreciation. You already have in the vehicle (the car