Why get Gap Insurance?

Benson Chrysler Dodge Jeep always has our customers' best interests in mind, which is why we're here to tell you about GAP insurance. What is GAP Insurance? Gap Insurance(Guaranteed Asset Protection), is insurance that protects you from the difference in what you owe for the car and what the Insurance agency says your car is worth.

 

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For example, you've been saving for years to get the exact car you want and the day has finally arrived. You proudly walk into the dealership, work out a deal, make your down payment and are smiling from ear to ear.They pull your brand new car up front and there is your new pride and joy shining in the sunlight. You hop in, smell that new car smell and proudly head for home. The first traffic light you come to is green and you proceed. Suddenly, out of the blue a 77 pick-up truck runs the light and collides with your new car. As the dust clears with no one hurt, you see that your brand new car is destroyed. It won't even move under its own power. You then call your insurance company and find out that they will pay market value, but you owe four thousand more on your loan than what they will pay. You're on the hook for the difference.

This is not the case with GAP Insurance, however. Come to talk to us today about GAP insurance and how it can protect you.

Categories: Finance

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