Calculate Your Coverage Needs
GAP Insurance Calculator & Tools
Use our free calculators to determine if GAP insurance makes sense for your situation.
Loan-to-Value Ratio Calculator
Calculate if you're "upside down" on your auto loan and need GAP protection
Enter Your Information
Include all financed amounts
Use KBB or NADA value
Your Results
Enter your loan and vehicle information to see if you need GAP insurance
Do I Need GAP Insurance? Quick Quiz
Answer 5 quick questions to determine if GAP insurance is right for you
1. What is your auto loan term?
2. How much was your down payment?
3. What type of vehicle did you purchase?
4. Did you trade in a vehicle with negative equity?
5. How much of the purchase price did you finance?
Smart GAP Insurance Strategies
When to Buy GAP
- At time of vehicle purchase for best rates
- Within first year of ownership
- Before depreciation exceeds equity
When to Cancel GAP
- Loan balance below vehicle value
- After significant extra payments
- Typically after 3-4 years
Get Your Personalized GAP Insurance Quote
Our experts will review your specific situation and find the most affordable GAP coverage for your needs.
GAP Calculator Questions
How accurate is the GAP insurance calculator?
Our calculator provides estimates based on industry-standard depreciation rates and typical loan terms. Actual vehicle values vary based on condition, mileage, and market conditions. Use this as a guide, but get an actual cash value quote from your insurance company for precise figures.
What loan-to-value ratio indicates I need GAP insurance?
If your loan-to-value ratio is over 100%, you definitely need GAP insurance. Even ratios between 90-100% suggest GAP coverage is wise, as a total loss would leave you with little to no down payment for a replacement vehicle. Most experts recommend GAP for any ratio above 80%.
How do I find my car's current actual cash value?
Check resources like Kelley Blue Book (KBB.com), NADA Guides, or Edmunds for your vehicle's current value. Use the "Good" condition setting and be honest about mileage. Your insurance company can also provide an estimated actual cash value.
Should I include taxes and fees in my loan amount calculation?
Yes, include all amounts financed including taxes, fees, extended warranties, and any negative equity rolled over from a previous loan. GAP insurance covers the total amount you owe, not just the vehicle price.
How often should I recalculate my GAP insurance need?
Review your GAP need annually or whenever you make significant extra payments on your loan. As your loan balance decreases and approaches your car's value, you can consider canceling GAP coverage to save money.
Does the calculator work for leased vehicles?
This calculator is designed for financed vehicles. Lease GAP calculations are different because you don't own the vehicle. Most leases include GAP coverage, but contact us to review your specific lease agreement and coverage needs.