Gap Protection
Gap protection pays the difference between actual cash value and loan balance if a customer’s vehicle is stolen or deemed a total loss in a collision.
When a vehicle is purchased on an extended term financing program with little or no down payment, a negative equity loan position is created. This produces significant exposure for your customers who are at risk to pay the difference between the value of the vehicle and the current loan balance in the event of a total loss.
Finite Corp has negotiated with multiple insurance companies with A- to A+ ratings to ensure stable customer protection and increase F & I profits.