What You Should Know Before Driving Your Vehicle Off the Lot

Driving a new vehicle off the lot, especially after putting no money down is like taking a leap of faith. Why?  In the event your car is stolen or there is an accident, your auto insurance will only cover the actual value of your vehicle. This amount could be a lot less than what you actually paid. Within the first two or three years of ownership, your new vehicle will depreciate in value faster than the loan balance. The result is a financial “gap,” and you are responsible for the left over amount. The good news is that with “GAP insurance” you are protected.

“GAP Plus” Protects You By:

  • Paying the balance due on your loan that your auto insurance does not cover
  • Covers your financing agreement for the life of the loan
  • Delivers Risk Protection in the event of a total loss
  • Coverage up to $50,000
  • No separate cash payment is needed- just add the cost of “GAP” to your loan
  • Receive $1,000.00 toward the replacement of a vehicle as long as you finance with the original lender within 60 days

Whether you are buying a new or used vehicle, ask one of our financial service officers for more details about "GAP" Insurance. It’s easy to enroll and it’s easy on your wallet.  Just visit us or call us at (225) 621-2800.