Guaranteed Asset Protection (GAP)

GAP

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Auto Insurance Isn’t Always Enough

Vehicle thefts and car accidents are traumatic enough for your customers. So imagine their frustration when the vehicle is rendered a total loss, and the insurance payment doesn’t even cover the amount they still owe — much less a down payment on another car. Guaranteed Asset Protection (GAP Protection) from EFG Companies fills that critical gap for your valued customers, strengthening customer satisfaction while helping you increase your profit per unit sold.

GAP Protection: Customer selling points

In the event of theft or total loss, GAP protection provides valuable protection to your customers on both new and used vehicles by:

  • Making up the difference between the value of the vehicle and the amount owed in the event of theft or a total loss, up to $50,000
  • Paying up to $1,000 of the insurance deductible if the vehicle is recovered from theft
  • Paying up to 150 percent of the manufacturer's suggested retail price on new cars and up to 150 percent of the average retail book value for used cars in the event of a total loss or unrecovered theft
  • Preserving each GAP protection contract holder's credit rating by preventing debt accumulation

Dealership benefits of GAP Protection

The GAP protection program was developed to give dealerships a valuable tool to:

  • Increase profits per unit
  • Enhance customer satisfaction and loyalty
  • Give customers an incentive to return for replacement vehicles
  • Strengthen branding through optional private labeling

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