Should You Buy Gap Insurance On New Car «2026»

Some luxury cars or EVs lose value faster than average, widening the potential gap.

Check your loan-to-value ratio today. If you owe more than the car is worth, get covered. If you want to tailor this post further, let me know: should you buy gap insurance on new car

If you’re paying the car off in three years or less, you'll reach "equity" very quickly. 💡 Pro Tip: Don’t Buy at the Dealership Some luxury cars or EVs lose value faster

GAP (Guaranteed Asset Protection) insurance covers the difference between your car’s market value and the remaining balance on your loan or lease. should you buy gap insurance on new car

Loans spanning 60 months or longer mean you’re paying off the principal slower than the car is depreciating.

Most lease agreements actually require GAP insurance (and many include it automatically).