Unless you’re an Olympic cyclist, it’s tough to survive without a car. That’s where we come in. Our car loans in Kansas City can help you buy the car you need to get around — both in the metro area and beyond. Never again will you worry about missing the bus or bumming rides from friends. Let us help you with the financing so you can spend more time compiling your new-car playlist.
Mazuma Credit Union Car Loans:
|New & Used Auto Rates||Rates as low as 2.94%|
Let’s say you have a sweet new Bug that’s worth $21,000 but you still owe $24,000 on it. In the insurance world, that $3,000 “gap” makes you "upside down" on your loan. If it gets totaled, your insurance company is only going to pay you the $21k that it’s worth. So you’d still have to make payments on the remaining $3,000 for a car that no longer exists. Bummer.
Basically, the gap is the difference between your car's actual value (determined by your insurance company) and how much you still owe on it.
Good News: We have a protection plan that will cover the gap like mayo on a turkey sandwich, thereby covering the total balance of your loan.