GAPWise Insurance
Your CAR Insurance Doesn't Cover Everything...

If you think your auto insurance covers you financially...think again.  In the event your vehicle is deemed a total loss due to an accident or theft, your insurance policy will usually only cover the actual cash or market value of your vehicle.  This amount could be significantly less than the amount you own to your lender or leasing company.  The result is a financial gap (GAP) where you must make up the difference, which could mean thousands of dollars out of your packet

 

GAPWisesm Covers the Difference

You can avoid this potentially serious loss by asking your lender or dealer for GAPWisesm Guaranteed Auto Protection, that can ease the financial burden associated with the loss of your vehicle.


*This illustration may vary based on rate, model, term and down-payment.

How GAP Works:

Loan Amount: $25.000
Term: 60 months
Loss Date: 36 months

Loan/Lease Payoff $15,000
Insurance Settlement* $12,000
GAP ($3,000)
Insurance Deductible ($500)
 
GAPWisesm Payment to Lender $3,500
Out-of-Pocket Expense with GAPWisesm $0
*Actual Cash Value of Vehicle.

 

General Description of GAPWisesm*

  • GAPWisesm protection is available for vehicles up to $100,000 (MSRP/NADA)
  • GAPWisesm will waive GAP amounts up to $50,000.
  • Deductible up to $1,000 are covered.
  • GAPWisesm is available for new or used vehicles.
  • GAPWisesm is available on loans and leases.
  • Cost is pennies a day.
How to Protect Your Investment

Simply agree with your lender to waive your responsibility for the GAP amount by purchasing a GAPWisesm Addendum.

This agreement between you and your lender or leasing company will waive the difference between your outstanding loan or lease balance and the greater of your primary insurance settlement or the actual cash value of a covered vehicle on the data of loss.

Peace of Mind

With GAPWisesm you receive the peace of mind that the financial GAP is protected. So before you drive your car off the lot, ask yourself: Can I afford not to have GAPWisesm protection?

*Program vary by lender/dealer and state, refer to your GAPWisesm addendum for all terms and conditions.
 

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