10101 Abercorn St.
Directions Savannah, GA 31406

  • Sales: 855-300-0063
  • Service: 888-716-2924
  • Parts: (912) 927-1000

What Is GAP Insurance and Why Should You Get It?

Traditional insurance can save you a lot of money in the case of a bad accident. GAP insurance? It can save you even more.

Let's say you buy a new car and then promptly wreck it in a total loss accident. Traditional insurance would reimburse you for its fair market value, but nothing else. On a new car especially, your car loan will likely exceed the vehicle's value. You're then left having to pay off a car that's rusting in a scrap heap.

"negative equity" got me like 🙀 ☠️ #adulting

— (@adulting101how) September 25, 2017

As its acronym suggests, GAP insurance fills in the gap between your car's market value and the money you own on your car loan. It's extra protection that makes sure you walk away from something like an accident free of pesky debts.

If that sounds good to you, contact the finance center at Fairway Lincoln in Savannah, GA. Our expert staff can tell you more about GAP insurance so you either add it to your current coverage and purchase it the next time you buy a new car.

Categories: Finance


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