GAP Insurance

In today‚Äôs fast-paced world, your vehicle’s real value will decline faster than the balance you owe on your vehicle loan.

In the event of a collision, and subsequent vehicle write-off, GAP Protection product covers you for any shortfall between your outstanding loan amount and the value of your vehicle (subject to certain limitations).

Your outstanding loan is defined as the total amount financed inclusive of GST, extended warranties, protection packages, and insurance contracts, and is not limited to the replacement value of your vehicle. In many cases GAP coverage extends to include any negative equity rolled into a deal.

Example:

Balance owing on loan: $18,000
Insurance Settlement: $11,000



Difference (Shortfall or GAP): $7,000
Loyalty Bonus* +$500


GAP Protection pays: $7,500!

 
  • GAP Protection

    Learn more about how GAP Protection works and how it can help protect your investment. Read Brochure