Guaranteed Asset Protection (GAP)
Insurance is a necessary part of the borrowing process. Have you ever thought about what would happen in the event of theft or an accident that leaves your vehicle totaled when your insurance company only pays part of the loan balance? When your insurance doesn’t pay--Guaranteed Asset Protection (GAP) has you covered. For a low one-time cost you can rest assured that you will not find yourself in the position of being liable to pay the difference between what your insurance pays and your loan balance.
We make this process very simple. All you need to do is talk to your Loan Officer about GAP when you apply for your loan. And for your convenience, the amount can be rolled into your monthly loan payment and is fully refundable if you cancel the coverage within the first 90 days.
Make sure you fill in the GAP!