Guaranteed Asset Protection (GAP)
With the ever increasing possibility of your vehicle being stolen or damaged beyond repair, Guaranteed Asset Protection or GAP can be a credit saver.
When the unthinkable happens, your primary insurance will provide that the current value of your vehicle to be reimbursed. Many times, however, this reimbursement is less than what you still owe on the vehicle, often times thousands less. This is where GAP comes in.
If your vehicle is totaled due to an accident or theft, GAP protection will pay the difference between the amount paid by your primary insurance carrier and the balance of your loan at the time of loss. Additionally GAP will provide that your deductible is paid up to $1000.
Please see one of our Finance Professionals for more information on protecting your credit!