Should You Buy Gap Insurance -

Consider gap insurance if any of the following apply to your financing or vehicle choice:

Buying gap insurance is a strategic financial decision that depends on whether you are "underwater" on your vehicle loan—meaning you owe more to your lender than the car is actually worth. should you buy gap insurance

: You rolled debt from a previous vehicle into your new car loan. Consider gap insurance if any of the following

: You bought a luxury vehicle or a model known for losing value quickly. should you buy gap insurance

Guaranteed Asset Protection (GAP) insurance covers the "gap" between your car's and your outstanding loan or lease balance .

: Your repayment period is 60 months or longer .