Guaranteed Asset Protection (GAP)
Did you know that if your new vehicle were totaled or stolen, your insurance company might not pay off your entire loan balance? GAP insurance protects you if your vehicle is stolen or involved in a major accident. Insurance policies only cover the value of the vehicle. GAP insurance covers the difference between the actual cash value of the vehicle and the balance still owed on the financing. The value of a new vehicle rapidly declines during the first few years. Many times the balance of the loan will be higher than the value of the vehicle. Guaranteed Asset Protection covers the “gap” between the vehicle’s value and the amount that is owed on it. It will also provide an additional $1,000 to help you purchase a replacement vehicle if you finance that car through Riverfront.
Without GAP, you are liable for the deficiency balance.
Most dealerships charge between $500 - $1,000 and even higher in some instances for this insurance. As a member of Riverfront, you can get the same coverage at a fraction of the cost. Speak with a Loan Administrator to learn more about protecting yourself with GAP insurance for your new vehicle.
Get an instant quote for Guaranteed Asset Protection (GAP).
Combine GAP with Extended Warranty Protection and you and your auto investment will be protected without costing an arm and a leg.
+ Rates are based on an evaluation of credit history, so your rate may differ.
++ Rates are variable and based on an evaluation of credit history, so your rate may differ.
APY = Annual Percentage Yield
APR = Annual Percentage Rate