What is Gap Insurance?

We encourage every customer who is financing a vehicle to consider purchasing GAP insurance. You might be asking, what is GAP insurance? Well, if in the unfortunate circumstance of an accident and your vehicle is totaled out by your auto insurance company, you might end up owing more money on the auto loan than what the vehicle is worth. In that scenario, GAP insurance protects you by covering the difference.

Many of our customers who finance their used car from our local used car lot choose to save on their purchase by putting little or no money down at the time of purchase. While this can help you get the used car you deserve, it can also mean you don't have strong equity in the vehicle from the start. By adding GAP insurance to your monthly payments, you protect yourself from having to make financing payments on a vehicle you're no longer able to drive.

In the event of a total loss, it can be highly beneficial to have this added insurance protection. When you finance your next used car, SUV or pickup truck at Excellent Choice Auto Sales, consider adding Gap Insurance Protection to your purchase. The sales and finance associates at our local used car lots in Everett and Marysville, Washington, are here to tell you more about how GAP insurance works and protects you from financial surprises.

In the unfortunate event of an accident, your auto insurer may present you with a "gap" between the balance remaining on your financing agreement and the actual cash value of your car. This is the money that you owe. If you don't have Gap Insurance Protection, you could be responsible for paying thousands of dollars even after any settlement from your auto insurance company.

Thankfully, you can protect yourself with GAP insurance from Excellent Choice Auto Sales. You can avoid these unknown variables by adding a small monthly payment to your competitive financing payment. Be sure to consider Gap Insurance Protection with your next used car purchase from Excellent Choice Auto Sales. We are here to help you save money throughout the ownership of your vehicle.

If you have any questions about how GAP insurance works or why you should add GAP insurance to your policy, please talk to our team. We are waiting to assist you.