Village Motors | Quality Used Cars, Trucks, Vans, SUV's - North Carolina, NC

• In the first year of ownership, one in every 110 new car purchasers will end up with a total loss vehicle.
• One in three Americans suffers the total loss of a vehicle at some point during their lifetime.
• One of nineteen drivers will have a total loss of a new car (under two years old) due to collision.
• One in every twenty drivers will experience an unrecovered theft.

• Your loan payoff	$16,000
  Your vehicle's actual cash value	$13,000
  Your deductible	$500
  Your insurance settlement	$12,500
  The GAP	$3,500
  Classic GAP pays	$3,500

  
  There is nothing worse than having to reach into your pocket to cover a loss like this or to continue making payments on a motorcycle, vehicle, boat or RV you don't have because of the gap.

Guaranteed Auto Protection, or "GAP", offers protection against financial liability for individuals who lease or finance a new or used vehicle.

During the first few years, the lease or loan balance can be higher than the actual value of the car. As the car’s value declines, the lease or loan balance remains significantly higher.

Should a leased or financed vehicle be stolen or damaged beyond repair, you assume the primary insurance will pay the balance owed on the leased or financed vehicle. Suddenly you find there is a "gap" between the primary insurance company settlement and the actual net payoff of the vehicle, which could result in an out of pocket expense.

 

Read about GAP in the USA Today...