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Plan Overview

It’s called the "gap." It’ the difference between the Amount Owed on your Retail Installment Sales Contract/Lease Agreement and the Actual Cash Value of your vehicle at the time of a Total Loss.

If your car is determined to be a Total Loss, this "gap" could translate into thousands of dollars that you would still owe after the settlement from the auto insurance company. The Amount Owed does not include missed payments, accrued interest, late fees, disposition fees, penalty fees, early termination fees or finance charges incurred after the date of loss. Also, if the insurance company valuation used to calculate the Actual Cash Value is less than 90% of the NADA value of your vehicle, the NADA value will be used in determining the "gap" amount waived (which means a smaller amount may be waived).

The Plan excludes total loss claims denied by your automobile insurance company. This is an optional waiver product and not a product of insurance. It is cancellable and not required for you to obtain financing for the purchase or lease of a vehicle.


How It Works


* This amount will be reduced by amounts owed due to missed payments, over financing, penalties, interest, etc. added to your Retail Installment Sales Contract/Lease Agreement.

Plan Specifics

  • Available for new and used vehicles
  • Your plan includes vehicles used for rideshare purposes except for limousines, taxis and shuttles
  • Maximum amount that may be waived is the lesser of $50,000 or the amount actually owed on the retail installment sales contract/lease agreement as of the date of loss
  • Available on both retail sale and leased vehicles

*Both options may not be available in all states.

Additional Information

Claims must be submitted within 90 days of auto insurance company settlement or date of loss if no insurance exists.

Upon refinancing, the contract will terminate. A refund will be made within 90 days only upon written request by the customer.

This information is intended to provide only an outline of the terms and conditions of the Total Loss Protection Plan described in this brochure and should not be relied upon at the time of purchase or lease of your vehicle. Certain terms, definitions and exclusions may not apply in your state. For exact terms and conditions, please review the Total Loss Protection contract itself. Ask your salesperson or Finance Manager for the Total Loss Protection/Gap option you prefer.