It’s got that new car smell.
Protect Your New Car and Your Wallet With Guaranteed Asset Protection (GAP)
In the first few years of owning a vehicle, your loan balance will probably be higher than the value of your vehicle, especially if you put down a small or no down payment. If your vehicle is stolen and unrecovered or totaled in an accident, your insurance company will cover only the actual cash value, which is often much less than you owe. You will be responsible for payment of this GAP, or the difference between the insurance payout and the loan balance.
For a one-time cost at the time you finance your new or used vehicle, you can include GAP coverage that will cover you in the event of a total loss of your vehicle. GAP may also be available for your existing credit union loan, contact us at 972-715-4444 for more details.
Ask us about GAP Protection today!