Carscoops

JUNE 8, 2024

A man in Arizona says that his gap insurance denied his claim due to a 60-cent clerical error during the initial purchase. Standard car insurance, like collision and comprehensive coverage, will pay you the car’s current market value if it’s totaled in an accident or stolen. That’s where gap insurance comes in.

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Shawn Ryder

FEBRUARY 14, 2024

If you’re still paying off a vehicle loan, there’s a chance that the insurance payout might not cover the full amount you owe. This is where Guaranteed Asset Protection (GAP) insurance comes into play, providing crucial financial coverage to bridge this gap. What Is GAP Insurance?

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Carscoops

OCTOBER 15, 2024

However, that low price comes with a catch: it requires a hefty down payment (which we don’t recommend—more on that below), bringing the real monthly cost closer to $238. Prospective buyers should keep in mind that putting cash down on a lease is generally not advisable. Oh, and it’s only available in Denver.

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Shawn Ryder

FEBRUARY 7, 2024

F&I (Finance and Insurance) A department within a dealership responsible for arranging financing and insurance for customers purchasing vehicles. The F&I manager will also offer additional products such as extended warranties and GAP insurance. This is also known as being “underwater” on your loan.

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Car Examer

NOVEMBER 2, 2024

For example, if there’s a £1,000 deposit contribution, that amount goes toward your down payment, reducing what you need to put down yourself. With PCP, you pay lower monthly payments because a large portion of the car’s cost is deferred until the end of the agreement.

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Carscoops

MAY 26, 2024

. “When submitting my application online, the out the door number was $32,207 with GAP. With a $2,500 down payment, I was only planning on financing $29,707. However, when I got the buyers order, the out the door number was $34,488.80, without GAP insurance.

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