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GAP waiver vs. GAP insurance: not same thing structurally.
Waiver: built into the loan contract as debt cancellation. Insurance: separate policy from an insurer.
Affects regulation, cancellation rights, claims. Ask which you're being offered, get terms in writing. #GAPWaiver #GAPInsurance #AutoLoan

Extra car loan payment doesn't automatically cut principal.

Without instructions, lenders often apply it to future scheduled payments instead, zero interest savings.

Ask exactly how to mark it "principal only," then confirm it was applied that way. #AutoLoan #PrincipalPayment #ConsumerFinance

Repossession doesn't end the debt.

Auction sale often doesn't cover the full loan balance. You can still owe the difference (deficiency balance), plus repo, storage, and auction fees
Can go to collections or a lawsuit, and hit your credit report separately. #Repossession #AutoLoan #ConsumerFinance