“Only $15 a month” sounds harmless when someone is sitting across a dealership desk with a stack of paperwork and a shiny new car waiting outside. But that little monthly figure can make a much larger cost disappear from view, especially when the dealer rolls GAP coverage into the auto loan. Before agreeing to it, ask one simple question: What is the total price of the GAP coverage?
That question changes the conversation because a monthly payment tells only part of the story. GAP can provide useful protection when a vehicle gets totaled or stolen while the loan balance exceeds the vehicle’s insurance value, but shoppers still need to know exactly what they are buying and how much they will pay for it.
