FAQ Gap Insurance

Vehicle can be new or used but must have been purchased or refinanced in the last 12 months

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Free Flood Damaged Vehicle Check

Free Flood Damage Check

Hundreds of thousands of cars and trucks were damaged by Hurricanes Katrina, Rita, and Wilma. These cars are sometimes sold to unsuspecting car buyers who get stuck with a vehicle that has serious mechanical and electrical system damage caused by being submerged in flood waters. These vehicles are often moved and sold in states far away from areas that were affected by the floods.

Before you buy that used car, run a free Flood Damage check from:

	CARFAX

	The National Insurance Crime Bureau Automotive Reliability Ratings The Vehicle Identification Number (VIN) can be found on dashboards, driver's side door jamb stickers, and title documents. Also check your car insurance card! All cars and light trucks built after 1981 have a unique 17-character VIN that provides access to valuable information about that vehicle's history. The letters I, O and Q never appear in a VIN. Shopping Tip: To check used vehicles while you shop, be sure to ask the dealer/seller for the VIN. Also find VINs on the web – including dealers' sites and car listings sites. Simply cut & paste – it's easy!

Caveat Emptor-Let the buyer beware

" Washing" Titles

Flood damaged vehicles are usually worth only about half as much as used vehicles in average or good condition.

Unscrupulous re-builders sometimes repair salvaged vehicles and then obtain "clean" titles by selling them out of state.

They choose states that do not transfer the "salvage" designation from the titles of out of state cars.

In some states the the re-builders can can obtain "clean" titles for rebuilt vehicles that simply pass an inspection.

Unbelievably, as of 12/27/2006, the following states do not record the "Salvaged Vehicle" title designations for out of state cars and trucks:

1. Arizona

2. Arkansas

3. California

4. Illinois

5. Indiana

6. Kentucky

7. Maine

8. Michigan

9. Mississippi

10. Missouri

11. New Jersey

12. New York

13.North Dakota

14. Ohio

15. Rhode Island

16. Texas

17. Vermont

Note: Minnesota does not carry forward the "Salvaged Vehicle" designation for cars and trucks that are more than five years old.

Caveat Emptor-Let the buyer beware.

The national Auto Dealers Association has endorsed legislation to change this but Congress has yet to take action.

Please have the date your car or truck was purchased, total purchase price of the vehicle, amount financed, annual percentage rate (Not to exceed 12.5 APR) name and address of Lender, vehicle year, make, model.

Gap Insurance is available in all states except: CT, LA, NH, NM, NY, VA, VT, WA

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	Car buyers overlook the biggest expense of car ownership: DEPRECIATION! The unavoidable meltdown of equity in their vehicle. Low down payments, long-term auto loans + rapid depreciation = Financial Shock in the event of a total loss or theft when the borrower could owe thousands more to the lender even after the insurance settlement

For your convenience when ordering Gap Insurance coverage please have the following information available;

Date your car or truck was purchased

Vehicle year, make, model

Total purchase price of the vehicle

Amount financed

Annual Percentage Rate (Not to exceed 12.5 APR)

Name and address of Lender