Denny Dealer Services has just the right product to offer your auto customers including gap and creditor insurance. Contact us today to learn more.
GAP products are intended to do just what the name implies – fill a gap. This product covers the difference between the loan amount, financing or lease value on the vehicle, and the actual cash value offered by the customer's primary insurer in the event of a Total Loss.
It is meant to cover the gap between the amount paid by the primary insurance company and the amount the customer still owes to their creditor for the vehicle.
GAP is a type of protection that covers a purchaser’s finance agreement against the difference between the amount of money owed on vehicle loan at the time of a total loss and the amount paid for the vehicle from the purchaser’s insurance company.
Balance owing on loan $18,000
Insurance settlement 11,000
Difference (Shortfall or GAP) 7,000
Loyalty bonus* 500
Gap Protection Pays $7500
*$500 Loyalty Bonus is a credit applied to the purchase price of a replacement vehicle purchased from the same dealer/retailer.
Coverages for new and used vehicle PLUS up to $10,000 allowed for deficit coverage
Peace of mind coverage choices include Life, Critical Illness, Accidental Disability, and Involuntary Loss of Employment. Approved by all major lenders and manufacturers.
STRONG F&I RESULTS TO ACHIEVE 100% SATISFACTION.