There’s nothing quite like the feeling of driving a brand-new car off the lot. The spotless interior, the gleaming paint, the distinctive “new car smell”-it’s a moment of pure excitement. You have ...

Forbes contributors publish independent expert analyses and insights. Jim Gorzelany is a veteran automotive journalist. If you’re headed out to take advantage of year-end new-vehicle clearance sales, ...

A car's value can depreciate by up to 20% in its first year, according to Kelley Blue Book. If you're leasing or financing a vehicle, you could find yourself in a situation where the balance on your ...

GAP stands for Guaranteed Asset Protection. It's designed to cover the difference in price between what you paid for your car and what your car insurance is paying out for a write-off, theft, or other ...

Gap insurance: Is it needed when buying a new car? There’s nothing quite like the feeling of driving a brand-new car off the lot. The spotless interior, the gleaming paint, the distinctive “new car ...

Gap insurance can pay out if the balance on your car loan is larger than the amount your insurance company will pay if your car is totaled Insurance companies pay the depreciated value of your car if ...