Guaranteed Asset Protection
Guaranteed Asset Protection, or GAP, provides you invaluable peace of mind. If a vehicle is totaled or stolen, the primary insurance company settlement can be significantly less than the outstanding loan balance. This may create a deficiency balance or a "gap," resulting in severe financial hardship. The "gap" may even jeopardize the repayment of the loan. GAP is designed to relieve the responsibility for the remainder of the loan balance that your primary insurance carrier does not cover.
Photo at top of page provided by SRP member Gina Aderholdt (Edgefield County).