GAP When your vehicle is stolen or damaged beyond repair,
GAP cancels your debt! If you're making payments on a vehicle that's stolen or
damaged beyond repair, auto insurance alone may not pay everything that you owe.
Insurance typically pays the vehicle's actual cash value rather than the amount
remaining on your loan or lease, which could leave a financial "gap" of
thousands of dollars. GAP coverage gives
you peace of mind. If your insurance company determines that your vehicle is a
total loss, GAP covers any remaining balance (up to $50,000) on your loan or
lease after the payment from your insurance company. Your deductible (up to
$1000) may be included in this balance. (Deductible benefits may vary by
state.)
GAP Benefits:
Cancels up to $50,000 of loan or lease
balance
Helps
maintain your good
credit
Covers negative
equity
Auto
insurance deductible (up to $1000) may be
included
GAP
is provided even if no auto insurance is in effect at the time of
loss
One
time low cost makes it
affordable
Convenient because it's sold in conjunction with the vehicle
purchase
GAP
is provided for the term of your
loan
Benefit
calculation:
Loan or lease balance:
$20,000
Less your insurance settlement payment:
-$14,000
Balance you owe:
$6,000
GAP pays:
$6,000
Add GAP Coverage to your vehicle at Gupton Motors for ONLY $599. That is almost nothing compared to what GAP could save you in the long run! Call us today at 615-384-2886 to find out more information about GAP Coverage.
