![]() ![]() Our Interiors become our mobile office, cafeteria, movie theater, team bus, beauty salon, weekend project hauler, and all-purpose transporter, regardless of weather conditions. The purchase of these products is optional and is in no way a condition to either the purchase or financing (obtaining credit) of a vehicle ![]() For complete details and exclusions for each plan, please ask your dealer representative for more information. The entire terms, conditions and exclusions, including but not limited to, your duties, are included in the written agreement. The content of this marketing material is limited by its size. Each product offered comes with specific coverage and exclusions. Program coverage will vary depending upon the type of plan purchased and is subject to state regulations. Any time the auto loan amount exceed the value of the vehicle, gap insurance provides value.ġ. While many people do this, you should carefully consider your options before taking this route. Prior Loan Balance - It's common for people to trade in their current car when purchasing a new car, and, if the current car is not yet paid off, many choose to roll the current car loan into the new one. If you are not able to pay 20% down on your auto loan, you need GAP coverage to cover the difference.įinance Term - Anyone purchasing a car loan with a term longer than four years is an ideal candidate for GAP coverage. People who purchase vehicles with little or no down payment who have license and tax fees added to the cost of their loans easily could end up owing more on their car than it is worth. The following are some circumstances in which to consider purchasing GAP Coverage:ĭown Payment - Your vehicle is most likely insured for Actual Cash Value, aka what it is worth at the time of loss. Whether you are leasing or financing, GAP can help protect you from coming out of pocket to pay expenses you may face with a total vehicle loss. Fill the gap in your Auto Insurance with GAP coverage. Guaranteed Auto Protection (GAP) coverage makes up the difference between the settlement amount from your insurance company and the amount still owed to a finance company, in the event of a total loss. This situation can put you at risk of receiving a payoff check that is lower than your auto loan balance. Being underwater on a loan means you owe more than your car is worth at any time during your loan. Lots of people are underwater on their car loans. It is not as uncommon as you might think. You have had an accident that destroyed your car and, now, could be disappointed with your total loss payoff check from your insurance provider. Coverage limitations and exclusions will be based on selected provider. Product offerings are provided by partners of Penske Automotive Group and/or the Manufacturer. The purchase of a vehicle service contract is optional and is in no way a condition to either the purchase or financing (obtaining credit) of a vehicleĢ. For complete details on covered components and exclusions for each plan, please ask your dealer representative for more information. Each VSC offered comes with specific coverage and exclusions. VSC coverage will vary depending upon the type of plan purchased and is subject to state regulations. Whether you need added protection for a newer car or you want affordable protection for a high-mileage vehicle, a VSC will keep you covered.ġ. VSC's are available in several mileage/term combinations and coverage levels to meet your budget and specific needs. A VSC can help protect you against unexpected repair costs and significant out-of-pocket expenses that may be required after your manufacturer's warranty has expired. Enjoy worry-free driving with a Vehicle Service Contract (VSC). ![]() With the advanced technology in today's vehicles, repairs can be costly and are often unpredictable. ![]()
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