Month: August 2011

Negative Equity Gap Insurance

What is negative equity gap insurance in fact what is negative equity. Negative equity is when you owe more than your vehicle is worth. Normally when members of the public change their vehicles we all like to think that we will have paid off more and that the vehicle will be worth more. So negative equity we all hope will never affect us. But it doesn’t and often through no fault of our own. A recent trend has seen customers trading vehicles in early to take a more economical option. ¬†Or perhaps the increase in redundancies and unemployment means that we are all looking for ways to make our money go further. Changing to a more economical vehicle can be one solution in that other associated costs are reduced. You can save on the insurance , fuel and monthly payments. Also it is a hard fact of life but some vehicles just loose a lot more than others and negative equity is not something anyone ever wants to be it yet thousands and thousands of member of the general public are. So you have had to change your vehicle and carry over negative equity. So you wisely decided to protect yourself with gap insurance. Did you know that most policies will not cover negative equity in any form. So lets say that two years later your vehicle is written...

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