Life Happens . . . Protect Your Credit
Will Your Insurance Cover Your Auto Loan in the Event of a Total Loss or Theft?
Probably not. Even the best auto insurance may not cover the entire amount you owe on an auto loan. In fact, if the average new car owner has their vehicle stolen or damaged beyond repair, they could still owe thousands of dollars after the insurance settlement.
GAP Advantage with PowerBuy™ can pay up to the remaining balance of your auto loan after an insurance payout and give you additional funds to finance your next vehicle with us.
GAP Advantage with PowerBuy* makes up the difference between what your insurance policy covers and the amount you still owe—in most cases. So, instead of paying off a substantial loan balance for a vehicle you can no longer drive, you could be free and clear of your car note and have funds to put toward a down payment on a new car.
With this valuable product, you can rest easy knowing that your auto loan won’t be a burden if an unexpected accident or theft occurs.