Re: He did NOT pay $19k
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i just googled it as well. So basically what im getting from it, gap insurance is incase you total the car immediately after you buy it. Then the insurance pays for the difference between how much you owe and the cars worth. Is this correct?
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This is exactly the idea behind gap insurance. I'm surprised that everybody has to google to figure out what this is. Some financiers require this kind of insurance. It's similar to mortgage insurance for those who buy houses with less than 20% down.
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