Certainly, you can typically obtain gap insurance for a used car. Gap insurance, an abbreviation for Guaranteed Asset Protection, is a form of coverage designed to bridge the difference between the outstanding balance of your car loan or lease and the actual cash value (ACV) of your vehicle, particularly in cases of a total loss, such as due to an accident or theft. Although gap insurance is frequently associated with new cars, it can also be a beneficial choice for individuals purchasing used cars. This is especially significant if you've obtained financing for the acquisition of the used car, and the outstanding loan amount surpasses the car's present value. Such a situation may arise due to factors like a high-interest loan, an extended loan term, or a quicker depreciation in the car's value relative to the rate of your loan payments.