Doral Toyota Gap Insurance
How does US Gap Protect Your Investment?
• Protects against financial loss if the vehicle is declared a total loss due to fire, theft, collision, etc.
• Available on both new and used vehicles
• Affordable protection for the life of the original loan contract*.
• Covers the amount of your loan that’s not covered by your current insurance policy.*
• Protection for vehicles valued up to $100,000.
• Covers your primary insurance deductible up to $1,000. (where permitted)
• Coverage is provided by a top rated insurance carrier.
• 100% refunded if cancelled within 30 days of purchase.
Car Insurance Alone is Not Enough!
Do you think your primary auto insurance will automatically pay your finance contract balance in full if you total your vehicle?
If your vehicle is stolen, accidentally damaged beyond repair, or otherwise declared a total loss, auto insurance only covers the Actual Cash Value. This amount can be significantly less than the amount you owe your lender, especially early in your finance term when cars are most attractive to thieves and chop shops.
You remain liable for payment of the difference between the insurance settlement or ACV and the remaining loan balance.
US GAP (Guaranteed Asset Protection) will cover the difference between an insurance settlement or ACV and the amount still owed on your automobile loan.
How US GAP Works
Original Loan Amount $25,000
Loan Term 60 months
Month of Loss 36 months
Loan Payoff $15,000
Auto Insurance Settlement $11,000
Amount YOU Owe Lender $4,000
Amount Paid Lender by US GAP $4,000
Amount YOU Pay Lender $0
With a US GAP Plan, you are protected in the event of a total loss or an unrecoverable theft of your vehicle.