Auto gap insurance provides new car buyers and leasers with additional coverage

Consumers can benefit greatly from gap insurance on their vehicle purchases as long as they know it exists. According to leaders in the auto industry, though gap insurance may be familiar to individuals who have leased cars in the past, to everyone else, they may not realize the advantages that it can provide when they purchase a new vehicle with financing that includes low monthly payments. Also known as guaranteed auto protection, this coverage is meant for the difference between what is still owed on the loan for the vehicle,…

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