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Signing a new contract after cancelling gap insurance?

Shawn Ryder

In particular, what happens when you decide to cancel your GAP insurance and sign a new contract? Understanding GAP Insurance Guaranteed Asset Protection (GAP) insurance is designed to cover the difference between what you owe on a vehicle and its actual cash value in the event of a total loss.

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Is GAP insurance required for a new 2025 Honda HRV?

Shawn Ryder

One of the critical aspects of vehicle coverage is GAP insurance. GAP insurance, which stands for Guaranteed Asset Protection, plays a significant role in the event of a total loss of your vehicle. What is GAP Insurance? The ACV is the estimated market value of the vehicle, which declines over time.

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Based on CFPB Documented Consumer Complaints, Are Junk Fees Really in the Spotlight?

AutoSuccessOnline

It’s notable, for example, that consumer complaints about managing an auto loan or lease in 2023 spiked by 77% and that CFPB supervisory highlights have recently focused on end-of-loan problems, such as GAP refunds and failing to automatically debit final payments.

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Warrantywise appoints new Dealer Sales Director

Motor Trader

Duxbury will oversee all aspects of dealer operations, including customer relations and key partnerships. His return will include filling the gap left by traditional GAP insurance by providing dealers with the knowledge to inform their comprehensive warranty plans.

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Navigating Inflationary Pressures on Vehicle Ownership: A Guide for Auto Dealers

AutoSuccessOnline

Let’s explore the factors driving inflation in the automotive market and discuss strategies for dealers to support their customers through these difficult economic conditions. According to Cox Automotive’s June 2024 Auto Market Report, the average new car loan interest rate is 10.1% for used car loans.

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California DA Sues Progressive, USAA Insurers For ‘Lowballing’ And Screwing Drivers

Carscoops

It seems like every day we see a car on a salvage auction site that has next to no damage, and yet has still been described as a total loss by an insurance company. Pamela Price, the district attorney for Alameda County, California, thinks part of that might be down to dirty tricks insurance companies play against their customers.

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FCA renews call on GAP firms to provide fair value to consumers

Motor Trader

The FCA has renewed its call for Gap providers to ensure they demonstrate “fair value and good customer” outcomes In February, the FCA agreed a pause in the sale of guaranteed asset protection (GAP) insurance with a number of firms, following concerns the products were not offering fair value.