What is GAP insurance on an auto loan?
| 06 Feb 2014 | 10:11
Roger Ricciardelli
Gap insurance is a product that you purchase when you finance a vehicle and only put a small amount down on the loan.
If the vehicle gets totaled and the insurance company only pays a portion of the loan off, the gap insurance covers the difference.
I highly recommend this for situations stated above. This product is purchased from the dealer and should be in the $375 range. This coverage lasts the entire term of the loan.
Roger Ricciardelli , President and CEO of AUTOMAGICIAN LLC has brought over 24 years experience in the automotive industry having held key sales, sales management , and executive positions in the sales & marketing of domestic & imported automobiles.
Ask Roger Ricciardelli a Question: automagician@gmail.com