Monday, March 16, 2015

You need more than insurance to protect your investment.

The most dangerous time to drive has nothing to do with hours of the day or months of the year. It’s the first few years you own your vehicle. If it’s in an accident and can’t be repaired or stolen and can’t be recovered, you could owe thousands more than insurance covers.

Guaranteed Asset Protection (GAP)* makes up the difference between what insurance covers and the amount you owe. So, instead of paying off a substantial loan balance before you can even think about shopping for a new vehicle, you’ll be free and clear. And as an added benefit, GAP Advantage will help you get back on the road more quickly by providing a $1,000 allowance to finance a replacement vehicle with us.

HOW IT WORKS
You owe $14,000 on your vehicle, and it’s damaged beyond repair in an accident. After subtracting your deductible, the insurance company awards you $11,000 for the damage.

Without GAP Advantage, you would pay out-of-pocket to cover the remaining $3,000 loan balance.
Your loan balance..................................................$14,000
Your insurance company pays............................ <$11,000>
Remaining loan balance (out-of-pocket expense).....$3,000

With GAP Advantage, your remaining loan balance is paid, PLUS you get $1,000 to finance a replacement vehicle with us.
Remaining loan balance...........................................$3,000
GAP benefit...........................................................<$3,000>
Out-of-pocket expense....................................................$0
GAP Advantage benefit ........................................ $1,000
(for replacement vehicle)

Call your loan or service representative today, and bridge the gap between your car’s value and what you still owe.
*Guaranteed Asset Protection is considered insurance coverage in some states.

Your purchase of GAP is optional. Whether or not you purchase GAP will not affect your application for credit or the terms of any existing credit agreement you have with the financial institution. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under GAP. You should carefully read the contract for a full explanation of the terms.

No comments:

There was an error in this gadget