GAP protection insurance takes care of the remainder of the loan or lease brought on by a low insurance settlement. By having GAP Advantage customers will receive a full settlement policy that covers up to 150% of the retail cost of their vehicle including the deductible.
- GAP Advantage waives the deficiency amount between your Chevrolet or Ford's unpaid finance balance and the settlement amount offered by your insurer for a total loss.
- GAP Advantage is only available at the time of vehicle purchase or lease.
- GAP Advantage is available for your new or used vehicle purchase.
- GAP Advantage is available for finance amounts up to $125,000. GAP Advantage can waive your financial loss up to $75,000, which can include up to $1,000 of your insurer's physical damage deductible.
- GAP Advantage is available for up to 84 months.
- Optional GAP Advantage helps protect you against owing money on a vehicle you can no longer drive.
- GAP Advantage can be canceled at any time. Your coverage is fully refundable within 60 days, as long as no loss has occurred. For cancellations after 60 days, a pro rata refund will be given, less any applicable cancellation fee. All refunds will be made to the financial institution/lender if there is a loan balance.
- GAP Advantage will provide $1,000 towards a replacement vehicle if it is purchased from Lynch Ford Chevrolet Inc.