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GAP – Premier GAP Insurance

Our Premier GAP Insurance gives your customer a level of protection that also provides peace of mind – if your customer sustains a total loss of a financed vehicle, this program covers their liability for the difference between the vehicle’s outstanding balance and its actual cash value.

This standard benefit level is commonly known as “greater of.” Actual cash value is defined by (as of the date of loss) the greater of 1) the retail value as determined by insurance carrier less any insurance deductible up to $1,000, 2) the retail value as defined in the National Automobile Dealers Association (NADA) Official Used Car Guide, or 3) amount paid by a third-party insurer.

Primary Benefits

  • Excellent income opportunity for your dealership
  • Increased customer satisfaction and loyalty with more repeat business, resulting in higher automobile sales
  • Allows dealership exploration of different financing options

Customer Benefits

  • Protection against out-of-pocket expenses due to a total loss
  • Reimbursement for insurance deductible (in most states)
  • Ability to cancel the agreement at any time prior to experiencing a total loss

Underwriting Guidelines

  • The maximum amount financed cannot exceed $125,000 or 150% of the MSRP or NADA retail value
  • The term of the finance contract cannot exceed 84 months
  • The maximum amount payable under the GAP policy is $100,000
  • The vehicle cannot be older than 10 model years
  • Excludes commercial use

NOTE: Please see a copy of the Insurance policy and producer agreement for a complete list of underwriting guidelines, terms, conditions, exclusions and limits of liability. Restrictions may apply. Product availability may vary by state or country. For state availability please check with PDS Sales Support.