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AUTO PROTECTION

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We have your vehicle covered

If your vehicle is deemed a total loss, Guaranteed Auto Protection (GAP) will cover the difference between your loan payoff and your insurance company settlement.

How GAP works:

  • Helps pay off your remaining loan balance if your vehicle is stolen or damaged and is deemed a total loss
  • Helps clear your credit allowing you to start fresh with a new vehicle purchase
  • Is inexpensive and can be included as a small addition to your monthly payment

GAP EXAMPLE:

Based on original amount borrowed $18,000
At the time of loss you owe $15,000
Your insurance company says the
actual cash value of your vehicle is

-$10,000
Your primary insurance deductible is* +$500
Your total out of pocket expense is $5,500
GAP Coverage will pay -$5,500
The total you owe with GAP
coverage to payoff your loan is

$0

To learn more or add GAP insurance to your new auto loan contact the Lending Department at 301-249-1800, ext. 200.

*Deductible coverage is not available in all states.

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