Quote:
Originally Posted by A Gomez
Maybe I misunderstood something what I read in other threads. When I said liability insurance, I assumed liability = debt, so I thought there was some additional insurance charge to a car you do not own (the fianancing company has the lien, right?). I did not mean the general liability (property damage, hurting/killing persons, etc).
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Do you mean GAP coverage/insurance? That will cover loan payoff in the event that the car is totaled and your insurance collision coverage doesn't give you enough money to pay off the loan. It usually adds a few bucks a month to a loan payment if you get it through your lender.