When you Refinance your Auto Loan, do you loose your GAP Insurance from your previous Loan?


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2 Comments

  1. Todd says:

    Yup. The GAP insurance has the lein holder’s name on the contract. Your GAP insurance provides insurance on that specific loan. it does not transfer.

  2. ridewithgdotcom says:

    Depends on who’s providing the GAP coverage. Some insurance companies offer GAP, so even if you refinance, you won’t have much of a problem. Now if the bank offers the GAP then yes, you will more than likely lose it.

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