Insurance has its limits.
Most insurance policies only cover the actual value of your vehicle-a value that declines rapidly during the first few years of ownership and begins as soon as you leave the dealership. As a result, there can be a substantial “gap” between your loan or lease balance and the amount that your insurance will pay to replace it. Why? Your insurance will only cover the actual value of your vehicle – regardless of what you owe.
GAP closes the distance.
GAP Protection is a non-insurance product that covers the “gap” by paying the difference between your primary carrier’s insurance settlement (with exceptions) and your loan or lease balance, less delinquent payments, late charges, refundable service warranty contracts, and other insurance related charges.
For more information, inquire with a loan officer at (318) 222-1979 or (318) 742-1912 , or drop by one of our locations.