GAP Waivers

Guaranteed Asset Protection

Protect your self in case of total loss.


Loan Amount: $25,000
Term: 60 months
Loss Date: 36 months
Loan Payoff Due: $15,000
Insurance Settlement: $10,000
Difference Between Insurance and Payoff: $5,000
Plus Insurance Deductible: $500

What you owe (Difference + Deductible): 
$5,500 Gap Waiver Pays: $5,500

Guaranteed Asset Protection, also known as GAP, covers the financial gap between the actual cash value of a vehicle and the payoff amount of the loan or lease in the event of a total loss.

GAP Benefits

  • Should get some money back on the cancellation of their current GAP policy if purchased from a dealership. As GAP coverage from the dealership is usually not transferable to a new loan. 
  • Prevents borrowers from delinquencies and damage to their credit for the price of a coffee per month. Often borrowers don’t have the capital to pay for the remaining balance they are responsible for in a total loss.
  • Covers the vehicle’s insurance deductibles up to $1,000 
  • Covers losses up to $50,000
  • Terms of up to 84 months and up to 125% MSRP
  • Protection for vehicles valued up to $100,000

Interested in GAP Waivers or need advice? Call us at 844.276.3272