When you buy a new vehicle, you want to make sure you protect your investment. That’s why it’s important to learn about gap insurance and if it’s worth getting for your vehicle. Our financing team believes it is a smart investment for drivers getting behind the wheel of a new vehicle, but in the end, the choice is yours. Check out our guide on gap insurance to see if this coverage is something you’d like to add to your vehicle purchase.
So what is gap insurance on a car exactly? Gap insurance covers the gap between the real cash value of your vehicle and the amount that you still owe on your financing or leasing plan. The “gap” in gap insurance actually stands for “Guaranteed Asset Protection.” In the event you’re in an accident, insurance will determine how much to pay based on the real value of the vehicle. If you still owe more on the loan than the vehicle is currently worth, the remainder of the cost comes out of your pocket. Gap insurance will ensure you’re covered.
While it may seem like it’s unnecessary to have if you’re a safe driver, anything can happen. We believe gap insurance is worth it. Here’s why:
If you’re still not convinced, get in touch with our finance team. Though the cost of gap insurance will vary depending on the vehicle and where you get it from, some insurers offer it for as little as $20 a year. For this price, it’s definitely worth the coverage.
No matter if you’re looking to learn about more car-buying tips and tricks, or you’re interested in this coverage, contact our finance team to get the process started when you buy a new vehicle. In the meantime, contact us with any questions, learn if you need full coverage on a used car, and more.
As one of the top-selling Mazda models, many drivers are drawn to the Mazda CX-5. However, that comes with lots of questions, such as what type of performance it has and how big it is. North Penn Mazda shares whether or not there’s Mazda CX-5 third-row seating.
When you’re planning your trip to the airport or across the country, you need to know the 2026 Mazda CX-5 luggage capacity and what you can store. This model can fit over 60 cubic feet of cargo space, which fits four average-sized suitcases comfortably, though you can fit even more. Here’s everything you need to…
You need to know how to check gas mileage on your new Mazda vehicle, and thankfully, that information is easy to access. Your instrument cluster can tell you your current gas mileage as well as your average fuel mileage to date so you can compare with regular driving. Here’s how you can check the mileage…
