Are You Filling in the Gap?

You’ve just purchased your brand-new vehicle, but then the unexpected happens, and you’re in an accident that totals your car. Thankfully, you were smart enough to buy car insurance. After all, you shouldn’t have anything else to worry about, right? That may not be the case if your vehicle is deemed to be worth less than you currently owe on the loan.

Bridging the Gap:

Unlike car insurance, which covers the value of the car, GAP coverage is optional protection that pays the difference between what you owe to the finance company and what the car is worth. If the insurance pays $20,000 and your loan balance is $23,000, GAP insurance will cover the $3,000 difference.

Yes, It’s Important

You can stop by if you’re want to purchase your new Chrysler, Dodge, Jeep, or Ram model with GAP insurance. Contact us at West Covina Chrysler Dodge Jeep Ram, and we will be happy to answer all of your concerns.

Categories: News, New Inventory, People, Finance
; ;