Should You Purchase Gap Insurance?

Gap Insurance is a special type of insurance that is specifically designed for automotive loans.  More people than ever before now need Gap Insurance, but it still may not be right for you. 

Gap Insurance provides coverage for the difference people may have between what their car is worth and what the loan balance is.  There are several reasons this type of negative equity situation may arrive but the two most common are: (1) Little or no money was put down on the loan at inception and/or (2) the finance term was extended to 60 months or more.  Like any type of insurance product, you hope you never have to use it and there are always advantages and disadvantages.  To make a better informed decision of whether or not you need Gap Insurance just CLICK HERE to find out more.