BMW Guaranteed Asset Protection (GAP)
No matter what vehicle is being considered, many vehicles may lose their initial value faster than the vehicle loan is paid down. If a vehicle is declared a total loss and the insurance settlement does not pay off the entire vehicle loan, GAP can pay all the remaining balance due and the insurance deductible. In addition, modern cars with advanced safety systems are designed to crumple to save the lives of the occupants which can cause them to be declared a total loss much easier than cars made just a few years back. GAP can prevent a vehicle owner from having to continue to make payments on a vehicle that cannot be driven any longer. GAP could save thousands of dollars in the event of a total loss.