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

$25,000

Loan balance after one year

$20,575

Insurance settlement covering the vehicle’s current value less deductible

$16,000

Your remaining unpaid loan balance (the “gap”)

$4,575

 

 

GAP ADVANTAGE WAIVES THE DIFFERENCE

$4,575

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

$1,000

 

 

TOTAL AMOUNT SUBJECT TO WAIVER

$5,575

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

 

Location & Hours | Site Map | Privacy Policy

Institution routing number: 271991139

Web Design by dataMINE Internet Marketing Solutions