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Guaranteed Asset Protection (GAP)
GAP
Avoid making payments on a vehicle you no longer drive.
Your auto insurance policy is only obligated to pay the average market value of your vehicle, not the loan amount in the event of a total loss.
If your vehicle is deemed a total loss, MPP GAP helps take care of the difference between what your insurance company pays and the loan amount.
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Total Losses Covered
Accident
Stolen Vehicle
Natural Disaster
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How GAP Works
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Loan/Lease Payoff $31,000
Primary Auto Insurance Settlement Amount -$25,000
Difference Owed $6,000
Total GAP Amount Waived -$6,000
*Your Out-of-Pocket Expense $0
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*The above example is for illustration purposes only. In some circumstances (such as past due payments, deferred payments, interest charges, delayed insurance settlement, or other plan limitations) the Guaranteed Automobile Protection may not take care of the entire GAP. Programs vary by state. For complete terms and conditions, see the Debt Waiver Addendum/GAP Certificate applicable to your state.
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About Us
Unparalleled Vehicle Protection Products
MPP, as a leader in the industry, provides a comprehensive selection of extended warranty services and other automotive protection plans designed to give our customers the best buying and ownership experience. We provide vehicle service contracts (frequently referred to as extended warranties), maintenance contracts, paintless dent repair, lease wear coverage and more. Ask your dealer representative about available options for your vehicle today!
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