GAP - Guaranteed Auto Protection

Save Out of Pocket Expenses

Did you know that if the vehicle you are now purchasing is totaled, or is stolen and not recovered, your insurance may not pay off the total amount due to your financial institution?

Guaranteed Auto Protection pays the difference between the Actual Cash Value (ACV) of your vehicle, which is determined by your primary insurance company, and the unpaid balance that is owed.

Why do you need Guaranteed Auto Protection?

  • Protects your credit rating

  • Covers losses that your primary insurance may not

  • When you drive your new car off the dealer's lot, it depreciates 10%-15% of its value

  • One vehicle is stolen in the U.S. every 27 seconds

  • Every year a half million vehicles are totaled due to accident, fire and theft

(Facts provided by the Highway Traffic Administration, National Insurance Theft Prevention and Auto Theft Information Authority)


Owning GAP protects your credit rating by waiving your responsibility for the unpaid loan balance.

Peace of mind. You will be free of the financial burden of an unpaid loan balance and will be put back into a new vehicle sooner.

GAP eliminates "out-of-pocket" expenses that are frequently needed to take care of the remaining loan balance after the loss settlement. The advantage of the "convenience factor" becomes a reality!

Most importantly, GAP is affordable! And the financial institution will finance this nominal fee for only a few dollars a month.

Anyone who lives in a city with a high rate of automobile theft needs vehicle protection. Anyone who drives in today's traffic during rush hour, anyone who drives on today's freeways, on today's state highways and the nation's interstates needs vehicle protection. Anyone who values his or her investment in a new or pre-owned automobile needs vehicle protection! Contact a loan officer for more information about Guaranteed Auto Protection.

How the Benefits Work

From the example below you can see that there is a "gap" of $5,000, i.e., there is an unpaid balance on the original loan. Without GAP, there is a $5,000 deficit for which the borrower will be responsible. However, with Guaranteed Auto Protection, that debt will be forgiven; the remaining balance will be paid, including the deductible.

Loan Balance after One Year = $15,000
Your vehicle's ACV = $11,000
Your deductible = $1,000*
Insurance settlement = $10,000
The "gap" = $5,000
GAP pays $5,000

Get a quote

Contact a loan officer for more information about Guaranteed Auto Protection.

*Deductible coverage available in most states but not all.

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