There is one thing that most new car buyers overlook when they go through the car buying process, and that is the need to get gap insurance. At Ourisman Chrysler Dodge Jeep® RAM, we want to make sure that when you’re buying or leasing a new vehicle, you’re well-informed about everything, especially gap insurance. The last thing you need after leaving a dealership lot with a new SUV, truck, or car is dealing with the risk of not having this type of insurance at all.
What Is Gap Insurance?
In a nutshell, gap insurance protects you and the bank that lets you borrow the money to buy the car from having to deal with if something unfortunate happens to the car like being totaled or lost in theft. Gap insurance covers the difference between what the vehicle is worth and the amount you still own on it; you wouldn’t want to continue paying off the loan if you don’t even have the car to drive anymore, right?
Gap insurance works perfectly with your comprehensive and collision insurance, and it’s not a complex tool to understand. But if you’ve never heard of the term “gap insurance” before, it’s best you head down to our dealership located at 2406 Crain Highway in Bowie, MD and sit down with one of our finance department specialists so you can understand gap insurance more intimately.
Where Do I Get Gap Insurance?
Aside from being a top-notch dealership offering SUVs, trucks, and cars like the Dodge Grand Caravan or the Jeep Wrangler, we also offer gap insurance as a one-time payment that can also be rolled into your loan. It will cost you at least $400, but the security it provides is priceless.
Come by and visit us as soon as today. We look forward to meeting you!