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.
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
Let’s put it into perspective: You owe $14,000 on the loan or lease of your vehicle. Your insurance settlement value is $12,000, and your deductible is $1,000. After your deductible, you receive $11,000 from the insurance company. This leaves you with a gap of $3,000 still owed on a vehicle you can no longer drive.
*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.