Protect Your New Car With GAP Insurance

You just bought a brand new car. You're driving it home, enjoying that new car smell. You don't even notice that truck running the red light it plows into you and totals your car. It's okay though, right? You have comprehensive car insurance.

The problem with "comprehensive" insurance is that it often doesn't cover everything. While you might receive compensation for the market value of your ruined car, that can be a lot less than the loan you took out to buy it. Even with a new car, you can wind up owing a ton of money.

 

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

— Adulting101.how (@adulting101how) September 25, 2017
This can be all avoided by buying GAP insurance with your new car. GAP (Guaranteed Auto Protection) fills in the gaps of your car insurance. If your car has suffered an accident that leaves it unsalvagable, GAP insurance will provide extra reimbursement to cover the difference between the car's market value and your car loan.

GAP insurance can be an invaluable tool to help you protect your car investment and your budget. If you'd like to know more, get in touch with the finance experts at Dokmo Ford in Northfield, MN. We can tell you about your options.

Categories: Finance

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