Should You Buy Gap Insurance On New Car Review

If you rolled negative equity from an old car loan into your new one, you definitely need coverage. When You Can Skip It You can probably pass on GAP insurance if:

Loans spanning 60 months or longer mean you’re paying off the principal slower than the car is depreciating. should you buy gap insurance on new car

Check your loan-to-value ratio today. If you owe more than the car is worth, get covered. If you want to tailor this post further, let me know: If you rolled negative equity from an old

If you’re paying the car off in three years or less, you'll reach "equity" very quickly. 💡 Pro Tip: Don’t Buy at the Dealership If you owe more than the car is worth, get covered

Here is everything you need to know about GAP insurance and whether it’s a smart move for your wallet. What is GAP Insurance?

GAP (Guaranteed Asset Protection) insurance covers the difference between your car’s market value and the remaining balance on your loan or lease.