Do You Need Gap Insurance In Omaha, NE?

September 24th, 2019 by

While we’re sure you’re excited about getting behind the wheel of your thrilling new Maserati car, we also understand that the process of figuring out financing can be stressful. That’s why our Maserati finance team here at Maserati of Omaha is here to help you every step of the way. In addition to helping you secure a loan at a great rate, we will also guide you when it comes to other financial decisions, such as whether or not you choose gap insurance.

What is Gap Insurance?

Gap insurance is a car insurance policy you can purchase when you finance your new car purchase, adding a small amount to your monthly payments. While the policy itself is relatively inexpensive, it can end up really coming in handy in case the worst happens. Many car financing plans these days are extending longer than they used to. While this allows people to enjoy their new car while spending less each month, it does have some trade-offs. New car purchases lose value the minute they’re driven off the lot. If you’re paying off your loan in small increments, this can create a significant period of time where your car is actually worth less than what you currently owe.

If you get into an accident and your car is totaled, typical insurance policies will compensate you for what the car is worth rather than what you owe. This could leave you in a tight spot financially on top of needing a new car. Gap insurance kicks in at this point and compensates you the remainder that you owe to your lender so you break even and are able to take a load of stress off your shoulders.

To learn more about Maserati financing, contact our Maserati dealership near Lincoln today!

Posted in Finance, New Inventory