It is true that with any insurance, it all comes down to risk. GAP insurance is there to help vehicle owners avoid a significant financial burden if anything bad should happen to their new car. By industry standards, cars will lose up to 30 percent of their value the first year after purchase. This can place the owner upside down on their loan where they owe more than their vehicle is worth.

Our team at Tuttle Click's Capistrano Ford believes that GAP insurance can be a wise choice in the following scenarios:

  • An owner leases or purchases a slightly used or new vehicle
  • The vehicle has significant value
  • The vehicle is being financed without a huge down payment creating a gap between the loan amount and the vehicle’s value
  • The owner lacks significant cash savings to cover the amount owed and the vehicle’s actual cash value if the vehicle is totaled

If you're looking to learn more about the benefits of GAP insurance, stop into our showroom at 33301 Camino Capistrano at your earliest convenience! We are happy to answer any questions you may have.

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