GAP Advantage

Protect the Investment in Your Vehicle

Did you know that if you vehicle is stolen or totaled in a major accident, your loss could add up to more than its value?

As you might be aware, the value of any vehicle declines rapidly during the first few years of ownership. Most insurance policies, however, only protect the investment in your vehicle at the time of loss, which means that the settlement you receive could be less than the amount you owe.

Now you can protect the investment made in your vehicle with Guaranteed Asset Protection (GAP) Advantage. GAP Advantage waives the “gap” between the vehicle’s value and the amount you still owe, including the insurance deductible. Additionally, it provides you with a credit of $1,000 to apply towards the financing of a replacement vehicle, if the financing is undertaken at the same financial institution.

The Benefits of GAP Advantage

The following is a typical example of how GAP Advantage could work for you:

Original purchase price


Loan balance after one year


Insurance settlement covering the vehicle’s current value less deductible


Your remaining unpaid loan balance (the “gap”)






Includes your deductible, up to $1,000




Gap Advantage also provides you with the following credit towards the financing or lease of a replacement vehicle if done so with the same financial institution






Above loan calculation based on 60 month loan at 6 percent APR