GAP Insurance Car Appraisal

What is GAP Insurance?

When you buy a car, new or used, and unless you’re paying cash or putting a large down payment, you’re normally owing more on the vehicle than it’s worth. This deficiency is usually more severe when buying a new car and rolling in negative equity from a trade-in.

GAP Insurance Calculator:

Purchase Cash Value
Retail Price $20,000 $20,000
Dealer Fee $599
Sales Tax $1,400
Down Payment ($1,000)
Negative Equity $2,000
Extended Warranty $1,100
Loan Amount $24,099
Cash Value $20,000
GAP <$4,099>

As you can see, the day you roll out of a dealer’s lot, you’re in a negative equity situation. Additionally, since the first dozen or so monthly payments are covering the interest on the loan and since the vehicle depreciates, your negative equity situation gets much worse before it gets better.

If your car gets totaled while you’re in the GAP area marked above, you will owe the lien-holder this balance.

GAP insurance is a policy that you pay for one time, usually when you purchase the vehicle, that will reimburse the lender or lienholder for this deficit.

Why do you Need an Appraisal?

If your car is totaled and since insurance policies pay the CASH VALUE of your vehicle, and since often times liability is either disputed or you’ve accidentally dropped collision coverage, GAP insurance companies require documentation before paying off your loan.

Keep in mind, GAP insurance companies are separate from your car insurance company and often don’t have damage appraisers in the field.


  • Estimate of Repair
  • Pictures of Vehicle
  • Actual Cash Value Appraisal

Our GAP Insurance Appraisal:

Appraisal Engine Inc. is a a full service car appraisal company. We will provide you with all the documentation you need in order to properly process your GAP insurance claim.

Our team of inspectors will review your case, inspect your damaged car and issue the reports necessary to finalize your car’s loan payoff.

Case study:

  • Vehicle: 2015 Chrysler 200
  • Repair Cost: $10,772
  • Cash Value: $10,500
    Since the repair cost exceeds the cash value, the car is a total loss
  • Payoff: $17,200
  • Deficit / GAP : $6,700

In this situation, the GAP insurance company needed documentation supporting the repair cost and the cash value. Below are the reports we provided the vehicle owner:

  1. Vehicle Pictures Report
  2. Field Repair Estimate
  3. Cash Value Appraisal Certificate

Cost and Appraisal Request

The cost of our GAP insurance appraisal service is $325.  To order our service:

  • Call 678-404-0455 between 9 and 5PM Monday through Friday.
  • Email
  • Fill out the form below.

Order a GAP Insurance Appraisal

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  • Price: $325.00
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