On average, the typical new car loses 11% of its value the second you drive it off the lot.* In addition to this, if your vehicle is totaled or stolen and not recovered, your standard auto insurance policy may not cover the remaining balance of your auto loan, leaving you with the balance on a vehicle you no longer drive.
GAP can pay up to the remaining balance of your auto loan after an insurance payout, protecting you from a financial loss. A totaled car does not have to be a total loss when you have GAP.
What does GAP protect?
GAP is designed for your protection whether you finance a new or used vehicle. Ask your loan representative if your vehicle type is eligible for GAP.
How does GAP work?
GAP protection goes into effect when you need it most. With GAP, you have one less worry if your vehicle is totaled in an accident and can’t be repaired, or stolen and isn’t recovered.