Marine GAP Financial Waiver

Without GAP Protection, You May Have To Pay For Your Boat and Trailer After It’s Gone.

Many boats and trailers are totaled each year by collision, grounding, sinking, theft and natural disasters. Unfortunately, many customers are surprised to learn that their insurance settlement is thousands of dollars less than what they still owe on their loan. Why?

The market value of your new vehicle starts to depreciate the moment you take possession, and for the first few years of ownership, is likely to continue to depreciate faster than the balance of your loan.

There’s a good chance that if a total loss happens to you, you will still be held responsible for the difference between the insurance settlement and your remaining loan balance.

Money that comes out of your pocket!

PROTECT YOUR INVESTMENT!

For a very affordable cost, you can protect yourself against a potential financial burden, and safeguard your hard earned credit.

Just ask your dealer about purchasing a GAP Addendum.

GAP Protection is a simple concept. It is an agreement between you and your lender to waive the difference between your outstanding loan balance and the actual cash value of your boat and trailer on the date of loss (typically your primary insurance settlement).