Guaranteed Auto Protection (GAP)
In the event your
Available on new, pre-owned, and
Considering the risks associated with theft, collision, and natural disasters,
Here is an example of how
This example is for illustrative purposes only. Actual calculation and dollar amounts may vary, including outstanding Retail Contract balance, insurance assessment of vehicle’s Actual Cash Value, and the deductible amount. Please refer to your GAP Waiver Addendum for a complete list of benefits, exclusions, and limitations.
- Waives covered losses up to $50,000
- Includes coverage for your insurance deductible up to $1,500²¹
- Covers Retail Contract balance/amount financed up to 150% of the vehicle's MSRP/NADA value
- Available on Retail Contract terms up to 84 months
- Transferable for a $50 fee if you sell your vehicle to a private party²²
- GAP Plus benefit (not available in all states) of a $1,000 credit towards the purchase or lease of a replacement vehicle at the authorized selling dealer.²³
- Any amount or term exceeding the program maximums
- The following deductions taken by the primary insurer: prior damage, salvage, missing items, excess towing, custom equipment, and storage
- Total losses resulting from the customer’s dishonest, fraudulent, or illegal acts (such as DUI), or those committed by the customer’s family member or other person acting under the customer’s authority
- Vehicles used for competitive driving, racing, or a prohibited commercial purpose
- Leased vehicles or Balloon loans
¹⁹ Please refer to your GAP waiver addendum for details. Programs vary by state. Maximum eligibility limits and certain exclusions apply. Note that you remain responsible for any past-due payments, late fees, and other charges on your retail contract.
²⁰ Vehicle’s current value as determined by your insurance company. In certain instances the Actual Cash Value will be based on a regionally used and industry-accepted source.
²¹ Deductible coverage is not available in all states.
²² Agreement is transferable within 30 days of covered vehicle resale if private party assumes your retail contract and no other terms of the retail contract are modified.
²³ GAP Plus is not available for purchase in AK, CO, FL, GA, KS, NE, NY, TN, TX, or WV, consult your authorized
²⁴ Additional exclusions may apply. Please see your GAP waiver addendum for specific coverage details, including limitations and a complete list of exclusions.