(English) As Auto Prices Increase, Auto Service Contracts, GAP Waivers and Vehicle Protection Products Become Even More Important

TALLAHASSEE, Fla., Jan. 25, 2021 /PRNewswire/ — New vehicle prices have steadily been on the rise with the fourth quarter of 2020 closing with the average cost of a new vehicle reaching a record high of more than $40,000. Additionally, the amount consumers borrowed to finance new cars neared a record high, according to Edmunds. With new vehicle costs surging and more money being borrowed by consumers, auto service contracts, GAP waivers and vehicle protection…