How GAP Works

Now you can protect yourself if your vehicle is a total loss.

Why take chances with your investment? GAP can provide protection when you purchase your vehicle to help eliminate the headache of dealing with a lesser insurance settlement should you experience a total loss.


Net Payoff$23,000Amount left on your loan or lease
Insurance Settlement Amount$20,000$21,000 value less your $1,000 deductible
Difference Owed$3,000Amount you still owe on lost vehicle
Total GAP Amount Waived$3,000Paid to your lender
Your Out-of-Pocket Expense$0 

 *For illustrative purposes only. GAP coverages and benefits vary. Please refer to your GAP Deficiency Waver Contract for full list of coverages and exclusions.