Purchasing GAP insurance is a very smart move, especially if you are leasing your current vehicle. If you buy or lease your vehicle, you are responsible for covering the cost if your vehicle gets stolen or totaled. GAP insurance will make sure that you are covered if this should happen.
If you are buying your vehicle, GAP insurance makes sense if you have made a low down payment, if your car is depreciating quickly, if your interest rate is high, or if you have rolled over other costs into your new payments. Otherwise, you probably don't need to purchase GAP insurance. If you need to consult with an expert, it is a great idea to talk with our financing team here at Budd Baer Mazda. We will be able to answer any questions that you might have, and we can help you to decide whether or not you need to purchase GAP insurance.
We break down what gap insurance is & what you need to know when in a dealer’s office: https://t.co/Ct6pOeabvo
— Edmunds (@edmunds) February 2, 2017
