Gap insurance: Is it needed when buying a new car? There’s nothing quite like the feeling of driving a brand-new car off the lot. The spotless interior, the gleaming paint, the distinctive “new car ...

Gap insurance can pay out if the balance on your car loan is larger than the amount your insurance company will pay if your car is totaled Written By Written by Insurance Staff Writer, WSJ | Buy Side ...

Insurance companies pay the depreciated value of your car if it’s totaled or stolen, which might be less than your car loan balance. Gap insurance can cover the difference between the vehicle’s value ...

A car's value can depreciate by up to 20% in its first year, according to Kelley Blue Book. If you're leasing or financing a vehicle, you could find yourself in a situation where the balance on your ...