Your Car Buying Advocate

MARCH 4, 2025

Gap insurance can be a smart option to consider when buying a car. This insurance helps pay off what you still owe if your car gets totaled, and the payout from the insurance doesn’t cover the full loan amount. You might not need it for shorter loans or if you’re making a large down payment.

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Gap Insurance Insurance Down Payment Finance 81

Shawn Ryder

JANUARY 17, 2025

If you’re considering whether to apply your down payment toward covering negative equity or if you should use it for a newer vehicle, it’s essential to understand the implications of each choice. These losses can sometimes outpace the rate at which car owners pay down their loan balances.

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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. It’s often used as a starting point for negotiations.

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Gap Insurance Term Extended Warranty Insurance 40

Shawn Ryder

JANUARY 17, 2025

Stability in Payments: After the loan is paid off, you are left with no more monthly payments, which can enhance your financial freedom. Depreciation Risk: New cars depreciate quickly, and you may lose value much faster than you can pay down the loan. Determine what aligns best with your needs and budget and proceed accordingly.

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