GAP | Graff Chevrolet in Bay City
What is GAP Insurance?
GAP insurance provides valuable financial security on your vehicle during the early years of your auto loan, where the vehicles value may be less than the amount financed. Our auto loan specialist at Graff Chevrolet. provide you all of the information you will need at the time of your purchase and you can decide if GAP insurance is right for you.
How Does GAP Insurance Work?
Should an unfortunate incident occur and you find yourself dealing with a total loss due to theft or an accident over the course of driving your vehicle, GAP insurance will pay the difference between the actual cash value of the vehicle and the current outstanding balance on your loan or lease. Simply put, GAP Insurance makes sure that your auto loan gets paid. In some instances, it may even pay your normal insurance deductible. GAP insurance typically comes with a small premium. Contact our auto loan experts at (989) 684-4411 and they can provide you with all of the information you need to decide if this type of insurance is right for you.