fag 1. n. Chiefly British. 1. a. A student at a boarding school who is required to perform menial tasks for a student in a higher grade. b.A drudge. 2. Fatiguing or tedious work; drudgery.v. fagged, fagÂ·ging, fags. v. tr.. Chiefly Brit. drudgery; toil. 3. Brit. a younger pupil in a British public school required to perform certain menial tasks for an older pupil. 4. a drudge. 5. to tire or weary by labor (often fol. by out). 6. Brit. to require to do the menial chores of a fag.
GAP Insurance is the difference between the actual cash value of a vehicle and the balance still owed on the financing (car loan, lease, etc.). GAP coverage is mainly used on new and used small vehicles (cars and trucks) and heavy trucks. Some financing companies and lease contracts require it.
Have you recently purchased or refinanced a car, or are you within the first two years of a five-to-six-year car loan? If so, you might owe more than the car is worth. Gap insurance may prove to be a good way to protect your investment and allow you to make a fresh start in the event of a major accident or other covered loss.