Guaranteed Asset Protection Advantage

Help protect the investment made in your vehicle with Guaranteed Asset Protection Advantage (GAP Advantage). GAP Advantage may protect the “gap” between the vehicle’s value and the amount you still owe, subject to certain limitations and exclusions.

Protection is key with GAP Advantage.

GAP Advantage protection goes into effect when it’s needed most. GAP is a non-insurance product that waives the difference between a primary insurance carrier’s settlement and the payoff of the loan in the event of a total loss, subject to certain limitations and exclusions. GAP only waives amounts below a certain loan to value percentage (LTV). LTV is determined by dividing the total amount financed by the value of the vehicle at the time of loan origination. GAP does not waive any amount financed above the maximum LTV. GAP Advantage may also waive the insurance deductible, up to $1,000, provided a deficiency balance still exists.

Additionally, GAP Advantage provides you with a credit of up to $1,000 towards the financing or lease of a replacement vehicle if done with the same financial institution within a certain time period.

Eligible Vehicles

Many new or used vehicles are eligible for GAP Advantage, including:

Interested in GAP?

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Or, stop in any of our branches or call a Loan Officer at 800-491-4309.

Here’s an example of how GAP Advantage could work for you if your one-year-old vehicle is a total loss beyond repair:

Without GAP Advantage
Your loan balance: $15,000
Your insurance deductible: +$1,000
Your insurance company settlement based on market value at time of loss: -$11,000
The amount you owe without GAP: $5,000

With GAP Advantage
Your loan balance: $15,000
Your insurance deductible: +$1,000
Your insurance company settlement based on market value at time of loss: -$11,000
Amount covered GAP: $5,000
Amount you owe with GAP: $0
Credit towards the financing of your replacement vehicle:+$1,000