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 reduce or eliminate the remaining balance of your Auto loan after an insurance payout. In addition, for being such a loyal member and financing your next Auto Loan with Global it may apply $1000 towards the balance of your new loan.
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. In the case that there is no GAP between what is owing on your loan and what your insurance pays then the GAP advantage may reimburse you for depreciation up to a total of $5000!
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.