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GAP Program


If the car is stolen and unrecoverable, or totaled in an accident, the insurance company may only pay what it’s worth. This can often be thousands of dollars less than what is still owed. Guaranteed Asset Protection (GAP) Program can help bridge the gap.


Don’t get stuck

The auto insurance company may only pay the car’s current market value, minus the deductible. Now the customer stuck paying off the rest of the Retail Installment Sales Contract/Lease Agreement balance on a car that they don’t have or can no longer drive. It just doesn’t seem fair, does it?


The solution is simple

The GAP Program is designed to waive the difference between the car’s market value and the Retail Installment Sales Contract/Lease Agreement balance*. GAP takes over where the automobile insurance company leaves off. The GAP Program is an option available only at the time the customer signs the Retail Installment Sales Contract/Lease Agreement. It cannot be added later, so they should consider whether they can afford to pay off the remaining balance of your Retail Installment Sales Contract/Lease Agreement should the vehicle be stolen and unrecovered, or totaled next week or next year.


The GAP Program may waive any remaining balance due on the Retail Installment Sales Contract/Lease Agreement after the payment from the automobile insurance company. Plus, GAP may waive the insurance deductible up to a $1,000 maximum. In other words, should a balance be left over after the automobile insurance pays the market or cash value, all the customer could have to pay is the remainder of the insurance deductible, if any.**


• Protects the new or used vehicle valued up to $100,000


• Reimburses the insurance deductible amount up to $1,000***


• Waives covered losses up to $50,000




*Certain limitations apply.

The GAP Program may not waive amounts owed due to missed payments, over-financing, or other excluded amounts.


** Programs may vary by dealer/lender/state. Please refer to the GAP Addendum for details of the terms, conditions, limitations, and exclusions that apply to this program. Maximum eligibility limits apply.


*** Insurance deductible reimbursement may not be available in all states.


Here’s an easy illustration of the

Guaranteed Asset Protection:


Net Payoff

Insurance Settlement Amount

Difference Owed

Auto Insurance Deductible

Total GAP Coverage

Out-of-Pocket Expense









See Guaranteed Asset Protection Addendum for complete details.


10555 Montgomery Boulevard NE, Building 2

Albuquerque, New Mexico USA 87111

Toll Free: 888.338.0389

Fax:  505.872.2122

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