Gap Coverage with Deductible Assistance
Guaranteed Asset Protection (GAP) is a great way to protect your finances if the value of your vehicle is less than the amount of your car loan.
A good rule of thumb is to assume your new vehicle will lose on average 19% the first year you own it, half of which occurs immediately after taking possession.* This leaves a “gap” between what you owe on your loan and the value of your vehicle. In the event of a total loss due to an accident or theft, GAP is designed to cancel the difference between what you owe on your loan and the amount paid by your primary auto insurer.
Now you also get Deductible Assistance with your purchase of GAP. Deductible Assistance is designed to cancel part of your debt when a comprehensive or collision claim is paid and a deductible is incurred. This means you’ll have one less expense you may have to worry about if something happens to your vehicle.
Call us today at 459-5970 to learn more about how you can add GAP with Deductible Assistance to your vehicle loan.
Get GAP with Deductible Assistance and don’t let a wrecked vehicle wreck your finances
- Protect your finances if the value of your vehicle is less than the amount of your car loan
- Compare rates with car dealership offers
- Extra protection for just pennies per day
- Easily roll into your auto loan; you won’t notice the difference.
- Competitive rates for all makes and models
"Hi A., I just wanted to take a moment to thank you again for helping me get my truck fixed. I fly down this Saturday to get it and drive it home."-L.G.
Your purchase of MEMBER’S CHOICE™ Guaranteed Asset Protection (GAP), which includes deductible assistance, is optional and will not affect your application for credit or the terms of any credit agreement you have with Spirit of Alaska. Certain eligibility requirements,
conditions, and exclusions may apply.
You will receive the contract before you are required to pay for GAP. You should carefully read the contract for a full explanation of the terms. If you choose GAP, adding the GAP fee to your loan amount will increase the cost of GAP. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid.
* What is the Average Car Depreciation Rate? John Diether, Cars Direct, May 23, 2016
Frequently Asked Questions
What is GAP available for?
GAP is available for new and used:
- Light trucks and SUV’s
- Travel Trailers
Do I have to purchase GAP?
Your purchase of GAP is optional. Whether or not you purchase GAP will not affect your application for credit or the terms of any existing credit agreement you have with us.
- What is GAP available for?