Is gap insurance required in Oklahoma?
I just moved to Tulsa and I’m in the middle of shopping for a new car. I’m going to need a loan, but I’ve already budgeted for that. That said, more than one lender has asked me about gap insurance. I’m not sure if I need it. Does Oklahoma legally require gap insurance?
Answer provided by
- You got a loan of more than 60 months.
- You made a down payment of less than 20%.
- You purchased a vehicle that doesn’t hold its resale value all that well.