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
The example above is for illustrative purposes only. The actual Waiver Benefit calculations may vary based on your specific circumstances and may be denied. Primary insurance deductible coverage is available up to $1,500. Please refer to your 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 $1,500³
- 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 party⁴
- 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 Center.⁵
- 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
¹ 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.
² 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.
³ Deductible coverage is not available in all states.
⁴ 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.
⁵ GAP Plus is not available for purchase in AK, CO, FL, GA, KS, NE, NY, TN, TX, or WV, consult your authorized
⁶ Additional exclusions may apply. Please see your GAP waiver addendum for specific coverage details, including limitations and a complete list of exclusions.