Guaranteed Asset Protection (GAP)


Few things can be more devastating to a motorist than experiencing a total vehicle loss. Our Guaranteed Asset Protection (GAP) program gives customers security knowing that if a retail installment sales contract or lease contract ends because of a total loss or unrecovered automobile theft, you may be eligible for benefits.


GAP provides coverage to customers as an insurance product or as a waiver to retail installment sales contract or lease contract as dictated by state laws. GAP pays the difference between the amount a customer owes the lender and the value of the vehicle as determined by the physical damage carrier or the NADA retail value of the vehicle, whichever is greater.



Are you prepared to pay the difference?


Is the amount you receive from your insurance company enough to pay-off your loan balance if your vehicle is declared a total loss?



For Example:


Insurance Settlement

Market value of your vehicle              $13,000

Less your insurance deductible -       $  1,000

Proceeds from insurance company   $12,000


Amount you owe on loan or lease -  $18,500

Difference                                               ($6,500)


This difference illustrates what you would still owe your lender without GAP.