If your vehicle is ever declared a total loss due to an accident, theft or natural disaster, your auto insurance company might only pay you the amount equal to their assessed market value of your vehicle. Unfortunately, there may be a significant gap between what your insurer pays and the balance you owe on your vehicle loan. Guaranteed Asset Protection (GAP) protects you by waiving the difference.
The cost for the optional GAP Loss Protection Program can be included in your finance contract or vehicle lease agreement.
Available on loans or leases up to 84 month terms. Terms greater than 84 months will be re-amortized to 84 months.
Cancelable within 60 days for a full refund. After 60 days refund will be calculated pro-rata.*
Covers loan/lease balances that include equipment add-ons or rollover from trade-in that may not be accounted for by insurance companies.