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about Creditplus car finance terms - g
A to Z of car finance terms
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Gap Insurance
If your car is writen off, you will be eligible to repay the remainder of the car loan. Car insurance usually only pay out the value of the car at the time of the accident or theft; this may actually be less than the money outstanding on the car loan. Gap insurance has been designed to fill this gap, and is offered as an extra on most car finance agreements.
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