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GUARANTEED ASSET PROTECTION (GAP)

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GAP

Buying a car opens doors to new experiences and unforgettable memories, but it also opens doors to potential unexpected expenses. Our Guaranteed Asset Protection (GAP) coverage protects you from paying large out-of-pocket expenses for the “gap” between your insurance settlement and the balance of your loan in case your vehicle is totaled or stolen.

Benefits:

  • Covers up to $50,000 of the gap between your insurance settlement and your loan or lease balance
  • Covers up to $1,000 of your insurance deductible
  • Covers loans up to 150%* of your vehicle’s value, which leaves room to include other investments to protect your vehicle
  • Protects your investment for the term of your loan, up to seven years

EasyCare GAP Protection must be purchased at the time of vehicle purchase. This one-time fee can be included in the financing of your new or used car, truck, or SUV.

How GAP Works

At the time of loss, your loan balance is $31,000. The insurance company places the vehicle’s value at $27,000. After a $1,000 deductible they provide a settlement of $26,000. You still owe $5,000 on a vehicle you can no longer drive. EasyCare GAP takes care of that expense.**

EasyCare Gap Coverage

*Loan to value may vary by place; see your EasyCare dealer for specific terms.

**GAP Coverage may vary by state or lender and may be reduced subject to terms, conditions, exclusions and state-specific language; see your EasyCare dealer for the actual contract.

Related Vehicle Coverage & Benefits

The information presented on this site is intended for marketing purposes only and is a summary of the benefits offered. Not all plans are available in all areas and coverage may vary by state. Ask your dealer representative for the actual contract for complete terms, conditions, exclusions and state-specific language. Purchase of this coverage is optional and is not required to qualify for financing.

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