If your vehicle is stolen or totaled, you could end up paying a lot of money out of your pocket—no matter how much insurance you have.
GAP Waiver provides supplemental protection to a borrower’s primary insurance and is designed to help borrowers avoid financial loss in the event of total loss or unrecovered theft. The difference between the loan/lease net payoff amount and the actual cash value (ACV) paid by the primary insurance settlement produces a deficiency balance or “gap.” This remaining loan/lease balance is covered (or waived) with GAP protection.
What is GAP?
- Pays the difference between your primary carrier’s insurance settlement and your loan or lease balance
- Covers your insurance deductible up to $1,000
- Provides an additional $1,000 towards the lease or purchase of a replacement vehicle if stolen or totaled and a documented GAP claim is paid
- Ask you Cardinal CU Loan Specialist for details
Program offered through Golden Eagle Insurance
