What does Guaranteed Auto Protection (GAP) cover?  GAP helps cover any deficiency between the actual cash value of the vehicle (primary insurance company settlement) and the outstanding loan balance at the time your vehicle becomes a total loss due to an accident or theft.

Most vehicles’ depreciation rate is a lot faster than the loan payoff rate in the first 3 years of ownership. Many people are not aware of the potential liability they will incur even after their auto insurance company pays on the total loss.

Our GAP coverage costs $295 and can be added at loan origination or anytime after loan origination as long as the vehicle has not previously experienced a total loss.  Contact a loan officer at any of our branch locations for more details.


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