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Guaranteed Asset Protection (GAP)

What happens when your vehicle is totaled or stolen and your loan amount is bigger than the amount your vehicle is worth? Your insurance will pay based on your vehicle’s value, leaving you with the difference between what your car is worth and what you owe. That’s where GAP comes in.

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  • Supplements your standard insurance coverage.
  • Covers the difference between your insurance’s settlement and your loan balance payoff.*
  • Available for new and pre-owned vehicles. 
  • Can protect cars, vans, light trucks, motorcycles, boats, travel trailers, motor homes, golf carts, water scooters and snowmobiles.

Mechanical Breakdown Insurance (MBI)

Costly repairs can crop up after your vehicle’s warranty has run out, leaving you to foot the bill. Instead of purchasing an extended warranty, MBI can be an inexpensive option for covering the expense of repairs unrelated to accidents.

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  • Get repairs done at any licensed repair facility in the U.S. and Canada.
  • Available for new and pre-owned vehicles.
  • Transfer coverage if you sell your car.
  • Roadside assistance, available 24/7 (including towing and lock-out services).
  • If your car breaks down, you’ll be covered for alternate transportation costs.
  • If glass, nails or other hazards damage your tires, MBI covers repairs or replacements.
  • Get meal and lodging reimbursed if you’re stranded while your car is broken down.

*GAP protects your finances by helping cover the difference between your primary insurance company’s settlement and the payoff of your loan balance up to a certain loan-to-value ratio maximum, less exclusions or limitations that may apply. The loan-to-value ratio maximum is determined by comparing the total amount originally financed to the vehicle’s value at the start of the loan. Included in this coverage is your insurance deductible, up to $1,000. Deductible assistance is available in most, but not all states. Please consult your financing representative for the availability of this benefit. GAP coverage is optional and will not affect your application for credit.

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