Once you purchase or lease your new vehicle, it begins to depreciate like any asset. In fact, data from CARFAX suggests that cars can lose more than 10 percent of their value during the first month of ownership. Depreciation does vary based on the type of car and its initial cost, so you’ll also want to consider the rate of depreciation.
Standard auto insurance covers the depreciated value of a car, which means that should the vehicle be a total loss, the insurance company is only required to pay you the current market value.
However, the current market value may be less than you owe on the vehicle. In these cases, it’s a good idea to have gap insurance. Gap insurance will pay the difference between the market value and what you owe on the car.
Here are some reasons you may want to consider gap insurance when buying or leasing a car at Champion Chrysler Jeep® Dodge:
You can start by speaking to our financial experts at Champion Chrysler Jeep Dodge. They can advise you of your options are and if gap insurance is a good fit for your vehicle.
You are welcome to visit our Dodge dealership in Cerritos, CA to find out more about how to protect your investment in a new car. Visit us today to learn more and find your new vehicle.
* MSRP is the Manufacturer's Suggested Retail Price (MSRP) of the vehicle. It does not include any taxes, fees or other charges. Pricing and availability may vary based on a variety of factors, including options, dealer, specials, fees, and financing qualifications. Consult your dealer for actual price and complete details. Vehicles shown may have optional equipment at additional cost. Pricing and offers may change at any time without notification. To get full pricing details, see your dealer.
* Dealer makes no guarantees or warranties, either expressed or implied, with respect to the accuracy of any data listed on this page which was obtained from third party sources. CHAMPION'S internet advertising is intended for California residence only.
While great effort is made to ensure the accuracy of the information on this site, errors can occur.
Please verify all pricing information with a customer service representative.
This is easily done by calling us or visiting us at the dealership.
Customer may not qualify for ALL Rebates shown. Some rebates are stackable and others can and cannot be combined. See Dealer For Complete Details.
While great effort is made to ensure the accuracy of the information on this site, errors can occur. Please verify all pricing information with a customer service representative. This is easily done by calling us or visiting us at the dealership.
Customer may not qualify for ALL Rebates shown. Some rebates are stackable and others can and cannot be combined. See Dealer For Complete Details.
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