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FINANCE
GAP Insurance
Covers the difference between car value and loan balance if totaled. Often overpriced at dealer.
// Why it matters
Guaranteed Auto Protection (GAP) insurance covers the gap between what your car is worth and what you owe on the loan if the car is totaled or stolen. Useful for high-finance, low-down-payment buyers in the first 1-2 years when depreciation outpaces principal payoff. Dealer GAP: $500-$900. Your auto insurance company's GAP: usually $20-$60/year. Always buy from your insurer, never the dealer.
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