Services
Guaranteed Asset Protection (GAP)
If your vehicle is totaled or stolen, your primary insurance company settlement can be significantly less than the outstanding loan balance. This may create a deficiency or a "gap" resulting in a serious financial hardship for you. GAP is designed to relieve you of the responsibility for the remainder of the loan balance that your primary insurance carrier does not cover.
- The GAP Advantage is an optional benefit that gives you peace of mind.
- If your car is "totaled" or stolen and not recovered, GAP pays the difference between your primary carrier insurance settlement and the payoff of your loan or lease, less delinquent payments, late charges, refundable service warranty contracts, and other insurance related charges.
- GAP Advantage also pays an additional $1000 towards the financing of a new vehicle, as long as you finance the new vehicle with us.
The following is a typical example of how GAP Advantage comes through for you:
| Original Purchase Price | $25,000 |
| Loan balance after one year | $21,000 |
| Insurance settlement covering vehicles current value | $16,000 |
| Your remaining unpaid loan balance | $5,000 |
| GAP pays the difference | $5,000 |
| GAP also pays | $1,000 |
| --------------------------------------------------------------------------------------------- | |
| TOTAL GAP Advantage Benefit | $6,000 |
Click here for a free quote, call 800-647-1689, or stop by any location for more information.
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