Guaranteed Asset Protection
GAP Waiver Addendum
GAP Insurance
Cyclone Automotive utilizes Nation Safe Drivers of Boca Raton Florida as its GAP provider, due to vast experience in the industry and the financial stability that Allstate insures.
Why is GAP needed?
As the cost of automobiles has increased, consumers have sought longer loan terms and smaller down payments. Inevitably, this creates a substantial difference between the actual cash value (ACV) and the loan amount as soon as the car is driven off the dealership's lot. For the borrower, this difference, or GAP, results in a potential out-of-pocket expense of thousands of dollars if their vehicle is stolen or totaled. GAP protection was designed to help eliminate the consumer's obligation under the loan contract.
GAP helps protect the consumer with these highly competitive features:
Maximum loan term 84 months
Maximum liability-New = 150% MSRP
Maximum liability-Used = 120% NADA Retail
Maximum limit = $50,000
Maximum deductible = $500
Eligibility is current model year up to 10 model years old
Contact us now for the most competitive pricing in the industry!
