GAP Insurance is a Great Option For Your New Vehicle

Your new car is an investment, and it's important that you get the right insurance to protect your investment. Once you drive a new car off the lot, its value drops. You instantly owe more on your car loan than the value of your vehicle. If you suffered a total loss accident the next day, it's likely your insurance would leave you paying for a ruined car.

Why is that? Because traditional insurance, even "comprehensive" plans, will only reimburse you for the fair market value of your car. In the likely event that that amount fails to cover your car loan, you're stuck paying for the rest yourself.

"negative equity" got me like 🙀 ☠️ #adulting https://t.co/4it7FAuTp2

— Adulting101.how (@adulting101how) September 25, 2017

If that sounds bad to you, GAP insurance coverage is the solution.

GAP insurance provides you with extra coverage to bridge the difference between what you owe and what your car is worth. It can make the difference between the shadow of unwanted debt and a clean financial slate.

At Encinitas Ford, we want you to be protected. Contact our finance center, and we'll explain the importance of GAP insurance in the event of a total car loss. We can also run you through the rest of your coverage options.

Categories: Finance

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