GAP Coverage
If it is totaled, you should not still owe on it
Insurance pays what your vehicle is worth. GAP covers the difference between that settlement and what is left on your loan.
How GAP works
If your vehicle is totaled or stolen, your insurance pays what the vehicle is worth — not what you still owe on it. Early in a loan those two numbers are rarely the same. GAP covers the difference so you are not making payments on a vehicle you no longer have.
It is worth the most when you financed with a small down payment, chose a longer term, or rolled negative equity from a trade into the new loan.
Example
If you owed on your vehicle
$25,000
Insurance Payout
$18,000
Amount Owed (GAP)
$7,000
GAP coverage protects you from the amount still owed.
This GAP payment example is for illustration purposes only. Refer to your GAP addendum for complete details of what will or will not be covered in the event of a total loss.
When GAP applies — and when it does not
GAP steps in
- Your vehicle is declared a total loss after a covered accident
- It is stolen and never recovered
- A flood, fire or storm writes the vehicle off
- Your insurance settlement comes in below your remaining loan balance
GAP does not apply
- The vehicle is repairable — your regular insurance handles it
- You carried no comprehensive or collision coverage
- Missed payments, late fees and interest added after the loss
- Negative equity beyond the limit stated in your addendum
GAP is worth the most if…
You put little or nothing down
With a small down payment the loan balance starts above the vehicle’s value and stays there for a while.
You financed for 72 months or longer
Longer terms pay down principal slowly, so the balance can outrun the vehicle’s value for years.
You rolled in negative equity
Carrying a balance over from a trade adds to the new loan without adding to the vehicle’s value.
See what GAP would cost you
Send us your vehicle details and a finance manager will come back with a GAP quote alongside your payment — no obligation to add it.
GAP coverage for drivers in Nine Mile Falls and across the valley
Washington buyers financing from our lot at 6274 Highway 291 can add GAP at the time of purchase, and our finance managers will show you the shortfall on your specific loan rather than a generic example. If you financed elsewhere, call us and we will tell you whether adding it is still possible.
We work with drivers across Nine Mile Falls, Suncrest, Spokane, Spokane Valley, Mead, Deer Park, Airway Heights and Cheney — and because coverage is honored at any ASE Certified facility nationwide, it travels with you well beyond the greater Spokane area.
Good Miles Auto
6274 Highway 291
Nine Mile Falls, WA 99026
Also worth knowing about: extended warranties
GAP handles a total loss. A vehicle service contract handles the repair bills that come after the factory warranty ends.
Common questions
Only in a total loss — the vehicle is stolen and not recovered, or damaged badly enough that your insurer declares it totaled. If the vehicle is repairable, your regular insurance handles it and GAP does not come into play.
Want to know what GAP would cost?
Ask us to price it alongside your payment — there is no obligation to add it.