Guaranteed Auto Protection

Nothing can be quite as exciting as driving your new vehicle off the dealership lot for the first time. Unfortunately, a new vehicle's value typically depreciates at a fast rate. If you are making loan payments and your vehicle is stolen and not recovered, totaled in an accident, or damaged beyond repair due to a natural disaster, your auto insurance alone may not be enough to cover the outstanding balance. Insurance typically covers the vehicle's actual cash value rather than the total amount remaining on your loan. This could leave a financial “gap” of thousands of dollars, a gap you would be responsible for paying.

How does Guaranteed Auto Protection work?

Guaranteed Auto Protection (sometimes referred to as GAP Insurance) offers financial protection and peace of mind, waiving or canceling the remaining balance of your vehicle loan after the payment from your insurance company.* Your insurance deductible of up to $1,000 may also be covered.

Benefits of Guaranteed Auto Protection

• Covers negative equity
• Helps maintain your good credit
• Insurance deductible of up to $1,000 may be covered
• Cost can be added to your vehicle's monthly payment

Guaranteed Auto Protection could be for you if:

• You are financing extended terms
• You have a small down payment
• You had negative equity in your last vehicle, that you rolled into your new vehicle loan
• You log more miles than the average driver
• You purchased a vehicle with a high depreciation rate