If I did not have gap insurance, what should I do about getting the difference of the value of car and how much I owe if accident was not my fault?
2 Answers from Attorneys
This is not a real estate or real property question. However, to answer, what you owe on the car is not relevant to your damages in an accident. Why should the other party to a wreck somehow be bound by how much you decided to borrow to get the car some years earlier, or your decision to not be properly insured?
Chalk it up to experience. In deciding not to get gap insurance, you simply lose that difference.