 TITLE: Can You Get Gap Insurance at Any Time? CONTENT: Should You Buy Gap Insurance?\n-----------------------------\nGap insurance is worth looking into if the amount you owe on your loan is higher than your car's value, or you're worried that may happen. You're likely to go underwater if any of the following scenarios applies to you:\n*   You bought your car within the past year.\n*   Your down payment was less than 20%.\n*   You have a long repayment period of 60-plus months.\n*   You rolled debt from your old car into your new loan.\n*   Your make and model of car tends to lose value quickly.\n*   You put a lot of wear-and-tear on your vehicle.\nRegardless of the cause of your negative equity, gap coverage is probably worth purchasing if you can't afford to pay back the difference between your loan amount and your car's value. The insurance is unlikely to make a big dent in your pocketbook (policies can be had for as little as $20 per year, according to the Insurance Information Institute), but they can save you a bundle if you end up needing the coverage. END