<P> Guaranteed Auto Protection ( GAP ) insurance ( also known as GAPS ) was established in the North American financial industry . GAP insurance is the difference between the actual cash value of a vehicle and the balance still owed on the financing ( car loan , lease , etc . ) . GAP coverage is mainly used on new and used small vehicles ( cars and trucks ) and heavy trucks . Some financing companies and lease contracts require it . </P>
<P> Guaranteed Auto Protection ( GAP ) insurance ( also known as GAPS ) was established in the North American financial industry . GAP insurance is the difference between the actual cash value of a vehicle and the balance still owed on the financing ( car loan , lease , etc . ) . GAP coverage is mainly used on new and used small vehicles ( cars and trucks ) and heavy trucks . Some financing companies and lease contracts require it . </P>
what does gap mean when buying a car
what does gap mean when buying a car
the difference between the actual cash value of a vehicle and the balance still owed on the financing
the difference between the actual cash value of a vehicle and the balance still owed on the financing