#9. Inquire About Gap Insurance

Regardless of whether you’re buying a new or used car at a dealership you should always ask about gap insurance. While it’s true that there a plenty of car owners who don’t need it, gap can be quite useful in certain scenarios.

Essentially, gap insurance is coverage value of the car’s actual value on the market and the remaining amount that you still owe on it. The ‘gap’ is where the term comes from. Incidentally speaking, gap insurance is one of the most commonly offered insurance products when you visit the finance office and it goes anywhere between $400 to a thousand dollars per vehicle.

It won’t do you any good if you have the same type of coverage. You should also know that insurance companies also have them, and you may have likely purchased it as well at some point. There’s a significant price difference here- you can get it for about $30 a year with your insurance provider than with the dealer.