Do You Need Gap Insurance When — Buying A New Car

If you put down less than 20% , you will likely have "negative equity" (owing more than the car's value) for the first few years.

Do You Need Gap Insurance for Your New Car? The moment you drive a new car off the lot, its value drops. For many buyers, this creates a risky financial scenario: you might owe more on your loan than the car is actually worth. do you need gap insurance when buying a new car

You already have in the vehicle (the car is worth more than the loan balance). Where Should You Buy It? If you put down less than 20% ,