Buying a new car is exciting. It’s easy to spend hours daydreaming about make, model, and accessories. And of course, there’s that new car smell. But there’s an important catch when you buy a new vehicle – the value depreciates the second you leave the dealer’s lot. It’s an unfortunate reality that all car owners have to face. But it’s a reality that can be managed with a type of car insurance called gap insurance.
Wondering what that is? Great – we’re going to explain what gap insurance is and whether or not you actually need it.