GAP Coverage

Guaranteed Asset Protection (GAP) coverage helps ensure unforeseen out-of-pocket expenses remain at a minimum if your car is subject to a total loss.1,2 In the event of an accident that totals your car,1,2 insurance settlements are based on the actual value of your vehicle and don’t always cover the total balance of your vehicle loan. GAP coverage helps to bridge the difference between your insurance settlement amount and your loan balance.3

Our GAP coverage4 is available on new loan originations5 for a flat fee of $675.
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90-day "free look" period4

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Eligible for new and used cars, light trucks, vans, and SUVs5

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Maximum claim benefit of $50,000

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Maximum market value of the vehicle is $100,0006

GAP should be considered when you/your:

  • Drive a lot of miles annually, which decreases your vehicle’s value more quickly.
  • Finance the purchase of a vehicle with a minimal down payment, resulting in a high loan-to-value.
  • Trade in a vehicle and the balance of the old loan is rolled into the new vehicle loan, resulting in a high loan-to-value.
  • Loan term is more than 60 months.
1 GAP claims are processed through TruStage.
2 Your purchase of Guaranteed Asset Protection (GAP) is optional and will not affect your application for credit or the terms of any credit agreement you have with us. Certain eligibility requirements, conditions, and exclusions may apply. You will receive the GAP Waiver Agreement (”Agreement”) before you are required to pay for GAP. You should carefully read the agreement for a full explanation of the terms. If you finance the GAP fee, interest will be assessed against the fee which will increase the cost. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid. If you cancel on or after the 91st day you will not receive a refund.
3 GAP may not protect the entire deficiency between the insurance payment or actual cash value and your outstanding loan balance. You are responsible for any remaining balance due on the loan after the request for benefits is processed. A copy of the GAP Agreement can be provided upon request for additional information.
4 During the first 90 days of the loan, coverage may be canceled for a full refund. The refund is applied to the outstanding loan balance and will not affect scheduled payments.
5 Gross vehicle weight must be 14,000 pounds or less. GAP coverage is not available for salvaged vehicles, flood vehicles, vehicles with a reconstructed title, classic vehicles (vehicles that are 20 years old or older) or vehicles used for ride-sharing.
6 Based on MSRP or JD Power average retail value.

GAP-5853923.1-0823-0925 © TruStage