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What is GAP insurance and how does it work?

Buying a vehicle can be an overwhelming experience, but here at Jim Shorkey Auto Group, we want to make it as easy as possible for you. One of the biggest questions when you’re buying a new vehicle is: What is GAP insurance and when do you need it? We asked Chris Tarwacki, one of our finance mangers at Kia Wexford, to explain GAP insurance, so you’re prepared when you come into one of our dealerships.

What does GAP stand for and what does it do?

Guaranteed Asset Protection protects you during the event of a total loss situation. Your vehicles value at the time of an accident is most likely going to be much less that the balance owed. Therefor creating a "GAP" between the two numbers which the customer is responsible for.

Does it only cover accidents?

As a matter of fact, the GAP coverage we provide covers fire, theft, flood, and accidents.

When would I need a GAP policy?

There are many different situations where this coverage is highly recommended although here are the most critical situations: Anytime you are rolling over a balance (negative equity) from a trade in vehicle, making a purchase with less than 25% down or a used car purchase that the bank views as a potential risk. Example: Older model with high mileage

On average how much would it affect my monthly payment?

Depending on the length of your loan this coverage is only about $10 - $15 a month

Should I purchase GAP from the dealer or my insurance company?

Here at Jim Shorkey our product provider does not charge a deductible, they cover up to a 150 percent of the loan value and will never let a negative balance jeopardize your credit.

Can I add this coverage at a later date?

GAP needs to be purchased during your dealership visit so you are fully covered at all times.

Should I be more likely to purchase GAP on a new or used vehicle?

GAP is recommended on both purchases although its more so on a used vehicle because the lack of factory rebates and already established mileage.   Jim Shorkey Auto Group has locations in Western Pennsylvania and the Pittsburgh region including the North Hills, Wexford, Murrysville, North Huntingdon, White Oak, Bakerstown and Uniontown. We also serve Mahoning County in Ohio, including the Youngstown area. Click the following locations in the list below to visit their websites:

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Winter Warriors: The Top 5 reliable SUVs for the PA Winters!

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Discover the Best Fall Activities in Pittsburgh, PA with Your New Vehicle from Jim Shorkey Auto Group

As the leaves change color and the air turns crisp, fall is a wonderful time to explore Pittsburgh, Pennsylvania, and the surrounding areas. With the convenience of a brand-new vehicle from Jim Shorkey Auto Group, you can embark on exciting fall adventures and make the most of this beautiful season. In this blog, we'll share some of the top fall activities you can enjoy in and around Pittsburgh with your new ride! Scenic Drives One of the best ways to experience the stunning fall foliage in Pittsburgh is by taking scenic drives through the city and surrounding countryside. With your new vehicle, you can easily visit places like Allegheny National Forest, Ohiopyle State Park, and Laurel Highlands. These areas offer breathtaking landscapes and picturesque vistas, making them ideal for a leisurely fall drive. Visit a Pumpkin Patch Fall isn't complete without a visit to a pumpkin patch. Pittsburgh and its neighboring towns have numerous farms and pumpkin patches where you can pick your own pumpkins. Visit Triple B Farms or Simmons Farms! Load up your new vehicle with your selected pumpkins and enjoy some classic fall decorating and carving when you return home. 3. Fall Festivals Pittsburgh hosts a variety of fall festivals and events that cater to all interests. Whether you're into art, music, or local cuisine, you'll find something to enjoy. From the Pittsburgh Renaissance Festival to Asian Lantern Festival, these events are worth attending and are easily accessible with your new vehicle. With your new vehicle from Jim Shorkey Auto Group, you're all set to make the most of the fall season in Pittsburgh, Pennsylvania. From scenic drives to apple picking, hiking, and enjoying cultural events, there's no shortage of activities to keep you busy. So, get behind the wheel and embark on unforgettable fall adventures in the City of Bridges. Happy autumn! Visit JimShorkey.com to view all of our locations and brands that we offer!

How to Prepare Your Car for Winter: Winterization Tips

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