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Your car's value (new or used)
drops the minute you drive it off the
lot.
Unfortunately, if someone hits your car
five minutes after you drive it off the
lot,
your auto insurance only covers
the actual cash value of the car.
At this point, there's a good chance
the insurance payoff isn't enough to pay off
your
outstanding lease (or loan) balance.
GAP insurance was created for just such a situation.
Auto Financing terms are longer and often allow little or no money down,
which means that
cars are quickly losing their value in relation to the loan.
This loss in value, or GAP
between the true value and what is owed on the vehicle can be very costly.
The
dramatic loss of your car's value, as soon as you drive it off the dealer's lot,
can put
an undue strain on your bank account if your car is totaled (or stolen!).
Auto gap insurance provides protection for you when a "gap"
exists
between the actual value of their vehicle and the amount of money
owed to the bank
or leasing company.
9 out of 10 people have not heard of auto gap insurance:
50% of the time the Insurance Company will not pay enough
to satisfy the loan or lease balance on totaled or stolen cars
One out of every three Americans
suffers the total loss of a vehicle at some point during their lifetime.
One out of every nineteen drivers will
have a total loss of a new car (under two years old) due to collision
One in every twenty drivers will
experience an un-recovered theft.
Are you at risk?
Answer these 7 questions and determine if you might be one of the
millions across the U.S. who would have to pay out of pocket. click here
Special Notice:
The purchase of GAP is voluntary and cannot be required as a condition of loan approval.
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