| If you're familiar with the concept of
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| | need gap insurance, since the car's real
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| "fair market value," you'll know that as
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| | value and the amount of your loan that
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| soon as your new vehicle leaves the car
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| | remains is more approximately equal.The
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| lot, it depreciates in value by up to
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| | good thing about gap insurance is how
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| twenty percent. What you may not know is
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| | reasonable it is to purchase. At only a
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| that if your new car gets stolen or
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| | few dollars a month, it can fit the
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| totaled within the first year that you
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| | budget of most new car owners. What stops
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| have it, you're still going to end up
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| | people from purchasing gap insurance
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| paying a large portion of your loan, even
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| | isn't usually the cost of the coverage,
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| if you have comprehensive auto insurance.
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| | but their relative ignorance that it even
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| Auto "Gap" insurance, originally known
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| | exists. Loan companies won't tell you
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| as "guaranteed asset protection"
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| | about it, nor will car dealers. They are
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| insurance, is meant to insure the
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| | guaranteed their money regardless. And if
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| difference between what your insurance
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| | they do offer gap insurance at the time
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| company says the car is worth (the fair
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| | that you buy your car, you can often find
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| market value) and how much you owe on
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| | a better rate on your own.One of the
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| it..There are many situations that
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| | reasons car buyers aren't familiar with
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| encourage the purchase of auto gap
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| | gap insurance is that it isn't offered in
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| insurance. It is often a required
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| | all states. In fact, it isn't even
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| addition to a lease contract, as the
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| | offered by some insurance companies.
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| leasing company must be guaranteed
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| | Connecticut, Louisiana, Maine, Nebraska,
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| compensation should their vehicle be
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| | New Hampshire, New Mexico, New York,
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| stolen or involved in an accident. You'll
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| | Virginia and Washington are states that
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| also want to have it if you're getting a
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| | don't offer gap insurance, although
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| new vehicle, especially one that is at
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| | drivers in those states can petition the
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| risk for being stolen. Coincidentally,
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| | state Insurance department in order to
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| the most popular automobiles in a thief's
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| | encourage lawmakers to make it available.
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| eyes are also the most popular models
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| | Similarly, those who now have an auto
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| sold. If thieves steal your vehicle, even
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| | policy through a company that doesn't
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| if it's the night you get it, your
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| | offer gap coverage can request that their
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| insurance will only pay for the value of
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| | carrier add gap insurance as an option.If
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| the car, and you'll be left paying on a
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| | you own an older vehicle and don't
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| loan that you're not benefiting
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| | anticipate buying a new one anytime soon,
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| from.Although many dealers will claim
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| | it is probable that you will never need
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| that you can only purchase gap insurance
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| | to know what gap insurance . But for
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| through them at the time of the purchase,
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| | those of you who are ever planning to buy
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| in fact you can enroll in gap insurance
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| | a new vehicle that might require
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| anytime within the first twelve months of
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| | financing, gap insurance can be an
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| your purchase. Of course, the longer you
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| | indispensable--and
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| wait to enroll, the less cause you have
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| | affordable--alternative to paying
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| for it. After the first few years that
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| | out-of-pocket for an accident or theft
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| you've owned your car, you will no longer
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| | that isn't your fault.
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