So let's say you buy a car. Everything is looking up, everything runs smoothly, the deal was easy, and the payment fits your budget. So you're on the drive home and... you get in a car accident. Although it's something we don't want to imagine, it could very well happen and it occurs every day. So, your insurance company will pay you the market value for your car—but if your car loan is more than that, you'll be paying a bill every month for a car you don't even have.
Guaranteed Asset Protection, or GAP insurance, can be purchased as an add-on for your existing coverage from the dealership you buy from. The insurance covers any and all payments you may have that your insurance company will not pay for. GAP insurance is an essential purchase if you do not want to be stuck with a monthly bill for nothing.
Come to Larry H. Miller Southwest Hyundai Albuquerque and we can get more into the discussion of if GAP insurance is right for you.
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