Congratulations on your new car!
While the last thing you want to think about right now is a total loss on your new vehicle, here's why you should. The moment you drive your vehicle home, it depreciates about 20 percent on average and can drop 15 to 25 percent in value each year thereafter.
Total losses continue to rise.
Not only is distracted driving causing more accidents, but total losses due to flood, hail, and other weather events are on the rise as well. Combined with rising repair costs, nearly one in four vehicles involved in an accident ends up a total loss. If your vehicle is stolen or damaged and deemed a total loss, you are responsible to pay the difference between what you owe and what your insurance company says your vehicle is worth.
GAP (Guaranteed Asset Protection) can help cover the difference and potentially save you thousands of dollars.
As an added benefit, if your vehicle is totaled and you return to us to finance your replacement vehicle, you could qualify for a $1, 000 credit toward your next vehicle. Please refer to your actual GAP Plus Waiver Addendum for full terms and coverages.
Want to talk with an expert to see if GAP is worth adding to your auto loan?
We can help calculate your risk and protect your loan from costing you more in the event of a total loss.
Stop in at a branch to sit down with a Financial Advocate, connect with us online, or contact us by phone at 303.279.6414. We're here to review your unique situation and find the best solution to keep you, your credit, and your wallet protected.