GAP is an elective product that covers any “gap” between the quantity owed on the loan and the vehicle’s value within the event of a total loss. It is essential to evaluate the coverage particulars to know the restrictions to GAP coverage. We will notify the local motorized vehicle division to release the lien.
Refinancing your loan may have an effect on aftermarket products, nevertheless it is dependent upon the product you bought. Review the terms in the contract to grasp whether or not refinancing your vehicle will affect protection. While most products are generally not affected, Guaranteed Asset Protection protection typically ends when the loan is refinanced or paid off. If you’ve Guaranteed Asset Protection protection on your mortgage, and your vehicle is a total loss, some or the entire balance after the insurance settlement is utilized may be coated. If there’s a remaining steadiness on the loan after …Read More