GAP Advantage Safeguards Your New Auto Loan Payment for Only $599
What Is GAP Advantage?
If your new or used vehicle is financed or leased and is stolen, accidentally damaged beyond repair, or totalled, you may owe more on your auto loan than your auto insurance will pay out.
Guaranteed Asset Protection Advantage (GAP Advantage) is a voluntary, non-insurance program that can waive this difference一or “fill the gap”一between your primary insurance settlement amount (your vehicle’s actual cash value or ACV) and your loan payoff amount.
GAP Advantage Covers Your Deductible up to $1,000 and Includes a $1,000 Credit Toward MSCU Financing or Leasing a Replacement Vehicle
GAP Advantage will also cover your primary insurance deductible up to $1,000* and provide you with a credit of up to $1,000 toward financing or leasing a replacement vehicle under certain conditions.
Delinquent payments, late charges, refundable service warranty contracts, and other insurance-related costs will be deducted from your GAP Advantage payout.
How It Works
- Your one-year old financed car is damaged beyond repair, but you still have an auto loan outstanding.
- Your loan balance is $12,000
- Your vehicle's market value is $9,700
- Your insurance deductible is $500
- Your insurance settlement amount is $9,700
|
$12,000 |
Your auto loan balance |
|
($ 9,700) |
Primary auto insurance payout to you |
|
$500 |
Your auto-insurance deductible. What you will likely pay before you receive your auto insurance payment |
|
$2,800 |
Total you owe without GAP Advantage |
With GAP Advantage you will owe $0 Plus Get up to a $1,000 credit toward the MSCU financing of your replacement vehicle
*Available in most, but not all, states.
Act Now for Full Payment Protection for only $599
- No model, mileage, or year restrictions
- Waiver of insurance deductible up to $1,000 in most states
- $1,000 toward the MSCU financing of a replacement vehicle
- 60-day refundable “free look” period