Youtor
Car Negotiation Tips 23 Gap Protection
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=8ppIe1YQ_TY
http://www.negotiationdynamics.com/Ne... This is insurance on top of insurance. The idea is that if your car was totaled or stolen, you might owe more on it than the car was worth and therefore more than your insurance company will give you. This insurance covers the gap between the two. Dealers will show you calculations indicating a very high gap. This is usually nonsense. To find the real gap use the Bankrate.com loan payment calculator which will show you your monthly payment and, if you click on the Show Amortization Table button, will give you a complete monthly calendar of payments that will show you for any given month how much principle you have paid, how much interest you have paid, and how much remains outstanding on your loan. Look at the remaining balance at the end of one, two and three years and then go to Kelley and look up the Retail Value (which is what most insurance companies will pay) on older models for the car you have purchased. This will give you a ballpark idea of the gap, if any.
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