Gap offers a safety net preventing you from paying for a vehicle you no longer have. If your vehicle is totaled due to theft or accident, your settlement will likely cover your vehicle’s cash value. But what if you owe more than that? What if there’s still a balance on your loan, plus an insurance deductible? Gap covers the difference—or gap—between what you owe and what the insurance company pays. This coverage is not required, but most of our customers who finance without immediate equity invest in it.
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