GAP Insurance
In case of a vehicle write-off or theft, Guaranteed Auto Protection (GAP) insurance steps in to bridge the gap between the insurance company payout and the outstanding balance on your vehicle loan. This coverage extends to encompass any negative equity carried over from a previous loan. The initial cost begins at $1,176 +8% RST, and it varies according to the term length, extending up to $1,736 +8% RST.
Illustration of an insurance claim scenario
Outstanding balance on the vehicle loan to the lender | $20,000 |
Insurance company payout following a vehicle write-off | $15,000 |
Remaining balance owed to the lender | $5,000 |
GAP Insurance will pay out the remaining $5,000 debt, effectively clearing the outstanding loan with the lender. |
Hours of Operation
Monday | 12:00 PM to 6:00 PM |
Tuesday | 12:00 PM to 6:00 PM |
Wednesday | 12:00 PM to 6:00 PM |
Thursday | 12:00 PM to 6:00 PM |
Friday | 12:00 PM to 6:00 PM |
Saturday | 12:00 PM to 3:00 PM |
Sunday | Closed |