Ditch the Debt:

How GAP Insurance Protects Your Investment at London Honda

We know buying a car is a big deal. It's an investment, and like any investment, you want to protect it. That's why we're here to talk about something super important: GAP insurance. At Your London Honda, we're all about transparency and helping you make informed choices. So, let's break down what GAP insurance is and why it's a game-changer.

What is GAP Insurance?

Imagine this: You drive off our lot in your brand-new Honda (or a fantastic pre-owned vehicle from our BuySmart Program!), feeling the thrill of the road. But, unfortunately, a few months later, your car is stolen or involved in a total loss accident. Regular car insurance will cover the actual cash value of your vehicle at the time of the incident. But here's the kicker: that value might be less than what you still owe on your car loan. That difference? That's the "gap."

As our own, Ashley-Rose explains in our video:

"So gap is one of my favorite products. I've helped a lot of customers over the years in making those claims, and I've seen claims as big as $18,000 paid out."

This gap can happen for a few reasons. Maybe the market value of your car has decreased, or you had negative equity from a previous trade-in. Or perhaps you simply financed a bit more than the car's current value.

"And so what that does is it says here is the value of your vehicle. But sometimes the way the market changes or the way that you've structured the deal, or maybe you've had what people call negative equity from a previous trade in, you might be financing more than, what the vehicle value is. And unfortunately, the insurance company is only there to protect the vehicle's value."

Why GAP Insurance Matters

Without GAP insurance, you're on the hook for that difference. That means you're still paying for a car you no longer have. Ouch! But with GAP insurance, we've got your back.

"So if you've got this much owing on your car, and the insurance company says, sorry, we're only going to pay this much, that gap that you see is your financial responsibility. And if you have gap protection, though, then we take care of that financial responsibility for you, and you get to start fresh in a new car without any that previous debt."

Think of it as a safety net. It gives you peace of mind, knowing that if the unexpected happens, you won't be stuck with a hefty bill. You can simply start fresh, getting back behind the wheel without the burden of lingering debt.

Why Choose London Honda?

At Your London Honda, we're committed to providing you with a stress-free and transparent car-buying experience. We want you to feel confident and informed every step of the way. That's why we offer GAP insurance as part of our comprehensive protection plans.

• Transparency: We'll explain everything clearly, so you understand exactly what you're getting.
• Value-Added: We're here to help you protect your investment and give you peace of mind.
• Relationship: We're in it for the long run, building trust and loyalty with our customers.
• Informed Choice: We empower you to make the best decisions for your needs.

We know that purchasing GAP insurance can seem complicated, but we are here to walk you through it and answer any questions you may have.

Experience the London Honda Difference

We invite you to experience the London Honda difference. Ditch the drama, drive away happy, and know that you're protected. Whether you're looking for a new Honda or a quality pre-owned vehicle from our London Honda BuySmart Program, we're here to help you every mile of the way.

Ready to learn more about GAP insurance and how it can protect your investment? Contact us today at 519-649-0889 or visit our website at londonhonda.com, or email us to schedule a consultation.

Let's get you behind the wheel with confidence!