Should your vehicle become damaged or stolen, you are liable to pay the difference between the insurance settlement and your loan balance. GAP (Guaranteed Asset Protection) covers the difference between the outstanding loan amount and the vehicle’s actual cash value. GAP will also pay your vehicle insurance deductible up to $1,000.
GAP coverage can potentially save you thousands of dollars. With GAP, you have the ability to purchase a replacement vehicle without out of pocket expenditure from the amount owed on your previous vehicle loan. Around 80% of the vehicles on the road today are worth less than the amount owed on them.
In today’s world, credit is paramount. By protecting against unexpected financial loss, GAP can help maintain your current credit rating. IFS offers affordable GAP coverage. This coverage is designed to protect you against unforeseen loss.
Our optional GAP coverage can be financed with the purchase of your vehicle or you can purchase it separately. Call 866-50-IFS4U (866-504-37480) and ask an IFS Advisor for details.