Is Gap Insurance Worth It?
When financing, leasing, or refinancing a car, buyers are often introduced to a product called gap insurance. Short for “Guaranteed Asset Protection,” it is designed to cover the difference between the balance on an auto loan or lease and the car’s actual cash value if the vehicle is totaled or stolen. At first, gap coverage […]
What Is a GAP Waiver and Do I Need One?
Accidents, vandalism, theft — these are all risks that car owners must contend with. If your car can’t be recovered or repaired, you are looking at a total loss claim with your insurance company, something that can create financial strain if you are still paying off your car loan. Fortunately, Guaranteed Asset Protection (GAP) offers […]