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GAP Insurance & Mechanical Repair Coverage

Mechanic working on car tires

GAP and Mechanical Repair

Getting pre-approved by Secured Advantage keeps the negotiations at the dealership simple. Before you roll off the lot, however, your new car purchase and Guaranteed Auto Protection (GAP Insurance) should go hand-in-hand.

GAP Insurance

In the event your vehicle is deemed a total loss due to an accident or theft, your auto insurance policy will usually only cover the actual cash value or market value of your vehicle less a deductible. This amount could be less than the amount you owe on the vehicle.

Guaranteed Auto Protection (GAP Insurance) covers the difference between the actual cash value of your vehicle and the loan/lease balance as of date of loss.

For example:

  • Loan Balance: $17,000
  • Insurance Settlement: $13,500
  • Your Financial GAP: $3,500
  • GAP Insurance Pays: $3,500

Without GAP Insurance, you could pay thousands of dollars out of pocket. Plus, GAP Insurance will cover the actual deductible up to $1,000.

Your auto insurance does not cover everything. Close the gap. To learn more, visit any branch or call 800.468.5153.

Mechanical Repair

The average new car is out of warranty within three years or 36,000 miles, whichever comes first. Secured Advantage provides mechanical repair protection – or an extended warranty – that add years and miles to your initial coverage.

We offer various plans that can help protect air conditioning, steering, brakes, cooling, engine, fuel delivery, front suspension, electrical, automatic and standard transmission, and drive axle assembly. Every package comes with 24-hour emergency roadside service:

  • Towing
  • Flat Tire Assistance
  • Battery Jump Starting
  • Lock-out Service
  • Fuel and Fluid Delivery
  • Safe and Security Package

To learn more about mechanical repair protection, visit any branch or call 800.468.5153.

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