Gap insurance comes into play if your vehicle is financed and you make a total loss claim — either after your vehicle is totaled (the cost of the repairs would be more than the car is worth) or if it is stolen. When you submit a total loss claim, your insurer will pay a maximum ...
An auto insurance company will pay the cash value of a totaled car, which is what it would cost to buy the same car as a used car from a dealer. Unfortunately, your used lease car has a market value worth much less than the new price, and the payoff amount on a lease does not dr...
Manufacturer recalls can happen if a manufacturer determines that a car or part of a car does not meet minimum safety standards. A vehicle history report can alert you to any potential problems that need to be addressed. You can also usually see if there are any open recalls for free ...
“An extended loan term not only increases the total interest tally, but it means more years of being upside-down – owing more than the car is worth. This becomes a sudden problem if the vehicle is stolen or totaled in an accident and the insurance proceeds are less than the remaining ...
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if they are injured in a car accident where their partner was the at-fault driver. For example, this coverage could be helpful if the driver hits a patch of black ice and their spouse is severely injured. Once the PIP coverage on the policy is exhausted, the spouse could file a claim ...
s me is guaranteed asset protection orgap insurance. It's one of those things that's sold along with the undercoating when you buy a new car. It's essentially credit coverage that covers the difference between what you owe on the car and what insurance will pay if the car is totaled....
No matter what state you live in, if you're still making payments on your car you may need to protect it. If you took out a loan in order to buy your car, your lender may demand that you purchase collision coverage so their asset is covered should something happen to damage it. ...
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Sometimes when this ECU car fails, it will start to go into what I call, the Christmas tree mode. This is the situation when allthe lights turn onthe dash and you are completely freaked out that your car is totaled. But this isn’t the case in reality. All these issues can be attri...