Dealership Preparation: GAP coverage | Auto Finance 101 | Ford

Dealership Preparation: GAP coverage | Auto Finance 101 | Ford


[MUSIC] If your car’s stolen or totaled in
an accident, you could end up with a GAP between what your insurance will pay and
what you will on your contract. Good thing you thought
to get GAP coverage. GAP, or Guaranteed Asset Protection,
waives the difference so you’re not stuck with a big bill and
no car. Not all GAP plans are alike, so make
sure you understand what is covered and what is not. And if you choose to buy GAP, the cost
will be included in your contract. Hey, how am I going to get back? [MUSIC] No way, not doing it. [MUSIC]

About the Author: Michael Flood

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