Guaranteed Asset Protection (GAP)

Vehicle values decline rapidly. That's why your insurance settlement, in the event of an accident, may not cover your entire loan balance. Unless, of course, you have Guaranteed Asset Protection (GAP).

GAP is designed to eliminate your unpaid auto loan balance in the event your vehicle is stolen or damaged beyond repair by supplementing your primary auto insurance coverage.

GAP covers the difference between the actual cash value of your car (primary insurance settlement) and your outstanding loan balance at the time of your loss, less certain deductions like credit insurance or service warranty contracts. In the event of a total loss, GAP may even pay an additional $1,000 toward the purchase of a replacement vehicle.

GAP is designed for all drivers, whether you finance a new or used vehicle. It may even cover your insurance deductible - up to $1,000 - as part of your claim settlement. And, the cost of GAP can be financed with your loan. GAP keeps you in the driver's seat!

For more information contact your loan officer today at 203.786.6410