GAP insurance is an excellent idea if you are leasing a car. It is also a really good idea when you are buying a vehicle unless you have put a good down payment down. In that case, you may be able to get away with not getting it. Otherwise, it's better to have it than not.

Even if you have car insurance, you need to have GAP insurance to cover what your current car insurance will not. Your car insurance will cover the cost of what your car is considered to be worth -- normally by Kelley Blue Book, but that's it. If you owe more than what it is worth on car payments, then you have to cover that yourself, and that isn't always cheap.

Contact your local Lithia Ford Lincoln of Fresno to find out more, but in most cases, it is advisable to just get the GAP insurance, so you are completely covered.
Categories: Finance

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