- 63,609
- 50,739
- Joined
- May 23, 2005
Yeah so if I have to use gapI just claimed a gap claim a month ago. You wont get any extra money if you have to use it; meaning you are upside down in the amount of the loan pay off to the amount it is worth. So if you have to use your gap insurance; that means it is a clean slate. If you were to trade in your car before the accident; you would be finacing negative equity.
It Just pays the rest of my loan
If my insurance only covers a certain amount
Or isn’t able to cover the entire amount of the car