2. GAP Protection pays the difference between the actual cash value and loan balance if a customer's vehicle is stolen or totaled in a collision. Gap Protection is the best way to protect yourself from having a deficiency in the event of a total loss for any reason.
3. When a vehicle is purchased on an extended term financing program with little or no down payment, a negative equity loan position is created. This produces significant exposure for your customers who are at risk to pay the difference between the insured value of the vehicle and the current loan balance in the event of a total loss.
4. Customers avoid a financial obligation during a stressful time when money is needed for a replacement vehicle. A one-time charge for IAS GAP Protection is usually included in a customer's monthly payment and is paid at the time of financing. IAS State-of-the-art administration and claims payment is supported by fast and friendly customer service.
