Guaranteed Asset Protection Plan

Go Ahead and Drive

If your car is stolen and unrecoverable, or totaled in an accident, your insurance company may only pay what it’s worth. This can often be thousands of dollars less than what you still owe. The Guaranteed Asset Protection (GAP) Program can help you bridge the gap.


Don’t get stuck Your auto insurance company may only pay your car’s current market value, minus the deductible. Now you’re stuck paying off the rest of the Retail Installment Sales Contract/Lease Agreement balance on a car that you don’t have or can no longer drive. It just doesn’t seem fair, does it?


The solution is simple The GAP Program is designed to waive the difference between your car’s market value and your Retail Installment Sales Contract/Lease Agreement balance*. GAP takes over where your automobile insurance company leaves off. The GAP Program is an option available only at the time you sign your Retail Installment Sales Contract/Lease Agreement. It cannot be added later, so consider whether you can afford to pay off the remaining balance of your Retail Installment Sales Contract/ Lease Agreement should the vehicle be stolen and unrecovered, or totaled next week or next year.


The GAP Program may waive any remaining balance due on your Retail Installment Sales Contract/Lease Agreement after the payment from your automobile insurance company. Plus, GAP may waive your insurance deductible up to a $1,000 maximum. In other words, should a balance be left over after your automobile insurance pays the market or cash value, all you could have to pay is the remainder of your insurance deductible, if any.*