Too often customers may find themselves in a situation after a collision or car theft in which the amount of insurance coverage for a total loss is not enough to cover what they owe to their lender. There is a gap between the insurance settlement for the loss and the customer’s outstanding balance.
You can provide your customers with Gap Waivers from Dealer Protection Group (DPG) to pay the difference between their primary insurance company’s actual cash value determination and what is owed to their finance company. A one-time charge for the GAP waiver, usually included in the customer’s monthly payment, is paid at the time of financing inception.
It’s really a win-win situation for everyone involved – you as the dealer, the lender, and your customers. You’ll generate income from the sale of a valuable F&I product, the lender is financially satisfied in the event the vehicle is declared a total loss, and your customer avoids a charge of several thousand dollars at a time when money will be needed for a replacement vehicle.
Our product is written through A and A+ rated insurance companies, providing a stable program, the lowest possible rates, reliable coverage for your customers, and maximum profits for your dealership.
Gap coverage to help pay the difference.
Make your customers happy with a valuable F&I product to prevent having to pay thousands of dollars to a lender in the event of total loss. Help them protect their investment by choosing Gap coverage. Give us a call at 949.208.8550, email us, or return the convenient form on this page for detailed information.