You just bought your brand new car, it’s barely 2 months old, and you get involved in a car crash that totals your car. It’s hard to imagine such a scenario, but statistics show that 32 percent of new vehicle owners are involved in car crashes within the first two months.
Getting involved in a car crash is bad enough. However, it gets worse when you realize a huge gap between the amount left on the loan and the market value of the car. Insurance companies only reimburse you based on the market value of your car. This is why you need Guaranteed Auto Protection insurance. GAP insurance cushions you against the loss of value especially when it comes to brand new cars.
The difference between the actual value and the market value can be as high as thousands of dollars depending on the make of your car. If you are about to buy your car at our dealership, talk to our financing team for more information on how you can get GAP insurance.
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