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Gap insurance is available if you finance your auto here.
Sometimes, when an accident occurs, your auto insurance company
may declare your vehicle a total loss. In this case, your
insurance company may not pay off your loan. Instead, the
auto insurance company may pay your car's book value toward the
auto loan balance.
This could leave you owing money on an auto loan even after the
vehicle is totaled. Gap insurance is available to help pay
this difference.
This is not a legal definition nor is it
intended as legal advice. |