GAP Coverage
Protect against the unexpected
When it comes to protecting their loan, customers need to “expect the unexpected”.
In the event of an accident, the customer’s insurance company may value the vehicle at a lower dollar amount than what is remaining on their loan or lease. This difference would still be owed to the lender.
GAP Coverage insures against this possibility, paying the difference between the insurance company’s valuation of the vehicle and what is owed on the loan or lease. Customers who purchase GAP Coverage enjoy peace of mind knowing their loan is protected in the case of an accident that results in a total loss.
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