What is GAP Coverage?
Guaranteed Asset Protection (GAP) serves as a safeguard against debt, offering a unique form of protection. Think of it as an insurance-like assurance that shields you from the financial burden of a lost asset, minus the complexities of a traditional insurance policy.
In the unfortunate event of a total loss of a covered vehicle, GAP waivers step in to ‘waive’ the difference between the primary insurance carrier’s loss settlement and the outstanding balance outlined in your financial agreement, up to $50,000.
In simpler terms, GAP waivers bridge the gap between the appraised value of your car and the remaining amount you owe. Given that this difference can amount to thousands of dollars, having GAP coverage has the potential to save you a substantial amount, providing valuable financial peace of mind
In the unfortunate event of a total loss of a covered vehicle, GAP waivers step in to ‘waive’ the difference between the primary insurance carrier’s loss settlement and the outstanding balance outlined in your financial agreement, up to $50,000.
In simpler terms, GAP waivers bridge the gap between the appraised value of your car and the remaining amount you owe. Given that this difference can amount to thousands of dollars, having GAP coverage has the potential to save you a substantial amount, providing valuable financial peace of mind
GAP Coverage Benefits
- Provides all-risk protection
- Paid over the life of your auto refinance loan
- Paid over the life of your auto refinance loan
- Minimal restrictions
- Protection Plus option pays $1,000 toward your insurance deductible and provides a full refund of the GAP waiver in the event that your vehicle is totaled (not available in all states)
- Like insurance, but less expensive.
Ready to Start Saving?
Upon completing our form to request a quote, we initiate a diligent search for optimal rate and payment alternatives tailored to your needs. Our proficient team of Refi Savings Experts will seamlessly navigate you through our streamlined process, facilitating a reduction in your car payment.
Real Customers. Real Savings!
