Protecting Your Vehicle Investment
When buying a car, ensuring its protection is key—not only for accidents or theft but also for any unforeseen events. GAP (Guaranteed Asset Protection) insurance is a valuable add-on that helps fill the gap between your car loan balance and your insurance payout if the vehicle is stolen or totaled.
How GAP Insurance Works
If your car is stolen or totaled, your regular auto insurance will only cover the current market value, which can be much lower than the amount you owe on your loan. GAP insurance covers this gap, making sure you're not left with outstanding debt.
Let’s say your car is worth $15,000, but you still owe $18,000 on your loan. Your insurance will cover $15,000, but GAP insurance will cover the remaining $3,000, sparing you from paying for a car you no longer have.
Why Borrowers Should Consider GAP Insurance
GAP insurance offers several key benefits for borrowers, making it a smart choice when financing a vehicle:
- Financial Peace of Mind: GAP insurance gives you peace of mind knowing that you won’t be left with debt if your car is totaled or stolen.
- Shielding Yourself from Depreciation: Because new cars depreciate fast, GAP insurance ensures you're financially protected in case of an accident or theft.
- Avoid Financial Setbacks: With GAP insurance, you won’t face the financial burden of continuing to pay for a car that you no longer own.
- Affordable Coverage: Adding GAP insurance to your loan is usually quite affordable, making it a valuable addition compared to the financial risks it safeguards against.
Protect Your Car with WyHy GAP Insurance
WyHy offers GAP insurance as an affordable and valuable addition to your auto loan package. By adding GAP insurance to your loan, you can enjoy greater financial security in the event of an accident or theft. It's a simple add-on that ensures your investment is protected, offering peace of mind as you drive your new or used vehicle.
By choosing WyHy for your auto loan, you benefit from competitive rates and flexible loan terms, as well as the added security of GAP insurance.
Secure Your Ride
Your car is a major investment, and protecting it with GAP insurance is a smart choice. Whether you're buying new or used, this coverage ensures that your vehicle is safeguarded.
Don’t wait until it’s too late. Contact WyHy today to learn more about our auto loan protection options and how GAP insurance can keep your vehicle investment safe.
