What is the maximum charge for gap waiver in new York?

In New York, the maximum charge for a gap waiver, which covers the difference between what an insurance payout and the remaining balance on a vehicle loan or lease, typically ranges around $1,000 to $1,500. However, specific charges can vary by lender and the terms of the agreement. It's important for consumers to review the details of their financing contracts to understand the exact fees associated with gap waivers. Always check with the lender for the most accurate and current information.