G
Gap Insurance
If you write your car off, you will obviously still be eligible to repay
the remainder of the loan. Normally, insurance will pay only the value
of the car at time of accident or theft; this may actually be
less than the money outstanding on the loan. Gap Insurance has been
designed to fill this gap, and is offered as an extra on most car finance agreements.
Advice Section: Pros & Cons | Finance Tips | Running Costs | Payment Options |
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