GAP insurance can provide peace of mind to every single car owner. What is GAP insurance? Guaranteed Asset Protection, or GAP, is insurance that pays for the difference between what you owe on your loan and what your car is worth.
GAP insurance becomes important the moment you drive off a car lot with your newly purchased vehicle. Even a Ford model drops in value the moment you leave the dealership with it. This means you owe way more than the actual amount you could sell the car for today. So what happens when you are involved in a wreck where that vehicle is deemed a total loss? Regular insurance might only cover the value you would get in an outright sale of the vehicle, and GAP Insurance bridges the "gap" between what you owe and that fair market value. Without GAP insurance you could end up being liable for thousands if your car were involved in a total loss collision or is stolen.
You can visit our dealership today to learn more about the benefits of GAP insurance and how it can help you.
We break down what gap insurance is & what you need to know when in a dealer’s office: https://t.co/Ct6pOeabvo
— Edmunds (@edmunds) February 2, 2017