Nobody enjoys thinking about worst-case scenarios. However, accidents do happen and there's a lot more at risk early on in your financing contract. Commonly referred to as a financial gap, the amount that your insurance would pay out could be significantly less than the remaining balance of your loan - leaving you responsible for hundreds or even thousands of dollars!
Audi Pure Protection Guaranteed Asset Protection (GAP) may help by waiving some or all of the difference between your primary insurance settlement and the outstanding balance on your vehicle's financing. GAP may also help provide coverage for your insurance deductible, subject to the terms and conditions of the program.
GAP Benefits*
- Waives some or all of the difference between your primary insurance settlement and the outstanding balance on your vehicle's financing due to a covered total loss*
- No maximum dollar amount on covered losses waived*
- Includes waiver of up to $1,000 for your primary insurance deductible**
- Transferable to another private party for a fee if your finance agreement is assumed***
- Cancelable at any time, subject to a fee after 30 days***
Here's an example of how you are protected by a GAP product if the vehicle is declared a total loss:*
Insurance assessment of vehicle market value at time of total loss: $51,000
Primary insurance deductible: - $1,000
Market value of vehicle less primary insurance deductible: $50,000
Outstanding finance agreement balance at time of total loss: $55,000
Potential amount you owe: = $5,000
Waived by GAP: - $5,000
Out-of-pocket expenses with GAP : $0
The example above is for illustrative purposes only. Actual GAP Waiver Benefit calculations will vary based on your specific circumstances and may not result in a GAP Waiver Benefit.
GAP is not available for purchase on a lease vehicle.
Coverage exclusions may apply.*****
- Any amounts or terms exceeding the program maximum limits listed under "GAP benefits" or "GAP Plus benefits" or in your Addendum
- Any amounts owed on your vehicle finance agreement resulting from late fees, due date changes, or from missed, delinquent, or skipped payments
- Total losses resulting from dishonest, fraudulent, or illegal acts (such as DUI) by customer, customer's family member, or other person acting under customer's authority
- Vehicles used for competitive racing or for a prohibited commercial purpose, including, but not limited to, rideshare services
- If the customer has refinanced the vehicle finance agreement
- Deductions taken by the primary insurer, such as prior damage, salvage, missing items, excess towing, customer equipment, and storage
*Please consult your Addendum for details. GAP and GAP Plus products vary by dealer, lender, or state of purchase. Maximum eligibility limits and exclusions apply. Note that you remain responsible for past due payments, late fees, and other charges on your finance agreement, and any other amounts that are not covered by the GAP and Gap Plus products. GAP and GAP Plus are not available in all states.
**Primary insurance deductible coverage is not available in all states. See the State-Specific Amendments section in your Addendum for complete details.
***Please consult your Addendum for complete transfer and cancellation rules, including state-specific transfer and cancellation rules.
****GAP Plus is not available for purchase in all states. You must receive a GAP Waiver Benefit to be eligible for the $1,000 credit towards the purchase of a replacement vehicle at the original selling dealer.
*****Additional exclusions may apply. Please consult your Addendum for specific coverage details, including limitations and exclusions.
