“Gap” refers to the difference between what is owed on a vehicle and what an insurance company says it’s worth. Depreciation begins as soon as a vehicle is driven off the lot. Drivers and Owners will want to protect themselves against this kind of loss. Lenders will want to protect the integrity of their loans with this type of Commercial Vehicle Gap program. Plan Coverage includes:
• Offers protection against unexpected payment of additional outstanding balance due.
• The cost can be amortized over the term of the loan or lease resulting in minimal monthly payments.
• Provides financial GAP coverage for all commercial vehicles up to 80,000 GVW.
• Trailers can also be covered under a separate GAP waiver.
• Commercial vehicle applications for specialized terms and equipment will be considered on an individual-basis.
• A deductible buy-back for up to $1,000 is included to cover a vehicle’s comprehensive insurance deductible.