Is “Gap Insurance” Really Worth the Money?

If you are planning or considering the purchase of a new vehicle this holiday season, you will soon hear about gap insurance. When you buy a new or late-model used vehicle, gap insurance covers the “gap” between the wholesale book value of a car and the amount that you will owe on the loan (assuming you finance the vehicle). Most collision insurance policies cover the wholesale book value of a car, which is significantly less … Read More