What is Gap Insurance?
The gap is the difference between the actual cash value of your vehicle and the amount of the loan at the time it was stolen or totaled in an accident.
How GAP Works
|GAP Protection -$3,500|
|Out Of Pocket Expense w/GAP||$0|
Gap Protection covers the difference from Actual Cash Value and loan balance, saving you thousands of dollars.
Why do I need this protection?
During the first few years of ownership, the probability of the actual cash value of your vehicle being worth less than the loan payoff is high. If your vehicle was deemed a total loss, the “GAP” could translate into thousands of dollars still owed after your insurance company paid the actual cash value of the vehicle.
There are many variables that determine the price of GAP Insurance. These include the type and age of the vehicle you purchasing and the term of your loan.
We will contact you with pricing for your specific loan. If you have any questions please feel free to contact us.