Can I Buy Gap Insurance After I Buy A Car -

Maya finally treated herself to a brand-new, tech-loaded SUV. In the excitement of the dealership floor, she declined the expensive gap insurance offered by the finance manager, thinking she’d just handle it later if she felt the need.

Maya didn't want to go back to the dealership, so she called her current auto insurance provider. She learned a few key things:

Here is a story illustrating how this process works in the real world. The "Better Late Than Never" Policy can i buy gap insurance after i buy a car

Some providers won't offer gap insurance if the car has surpassed a certain mileage threshold (often 30,000 miles).

Two months later, Maya was reading a personal finance blog and realized she had made a small down payment. Because new cars lose value the moment they leave the lot, she owed on a loan for a car that was now technically worth only Maya finally treated herself to a brand-new, tech-loaded SUV

Yes, you can generally buy gap insurance after you’ve already purchased your car , though there are specific windows and conditions you’ll need to meet. Most insurers require the vehicle to be less than and for you to be the original owner .

If your current insurer doesn't offer it, some credit unions provide gap insurance if you refinance your auto loan through them. She learned a few key things: Here is

Maya added the coverage instantly over the phone. A week later, she was caught in a heavy hail storm that dented every inch of the SUV. While the car wasn't totaled, she drove away with the peace of mind that if it had been, her bank account wouldn't have taken a Key Takeaways for Buying Late