Guaranteed Asset Protection
Available on all Vehicle Loans
Many times there is a big difference between what your insurance company will pay for your vehicle and what you owe on your loan. Most cars depreciate by thousands of dollars as soon as they drive off the lot. And, if your vehicle is stolen, damaged beyond repair or totaled, you are still liable to pay the difference. This difference, or the “gap” between your insurer’s settlement and your loan balance, will come out of your pocket for a vehicle that no longer exists.
Guaranteed Asset Protection or “GAP” could save you thousands. GAP is automotive coverage that pays the potentially high-cost difference between your insurance settlement and your loan balance on items directly related to the purchase of your vehicle.
For just a few dollars a month, GAP can save you from making loan payments on a vehicle that is beyond repair, stolen or totaled.
You can sign up for GAP when you apply for your vehicle loan. There’s no underwriting, no red tape and no hassles. And, for your convenience, the amount can be rolled into your monthly loan payment.
Protect your family, your car and your credit rating with GAP automotive coverage. Don’t forget to ask for the coverage when you are financing your next car with us.