TOOLS & RESOURCES
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
|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
|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
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.