Powersports GAP 150 Protection: Total Loss Program to Ease Your Financial Burden
When you go to a dealership, you will be offered additional products designed to enhance your ownership experience. Most of these are financial programs aimed at easing your burden should something happen to the vehicle. One such program is Torque Group’s Powersports GAP 150 Protection.
What is Powersports GAP 150 Protection?
First off, GAP stands for Guaranteed Asset Protection. This is a finance-based product developed for borrowers to protect them from financial losses should the covered vehicle be damaged or stolen. In a word, this type of product is offered to vehicle owners whose units are under a financing loan from the dealership.
What is GAP 150 Protection?
GAP 150 is Torque Group’s exclusive asset protection program offered by their dealership partners. The premise behind the program is the same as every other asset protection program offered at dealerships but there are critical factors that set it apart from the rest as well. These are the following:
- Pays the difference between the NADA Retail Value or the insurance settlement whichever is greater (at the time of total loss) and the remaining loan balance
- Pays up to $1000 of the customer’s insurance deductible
- Highest GAP coverage available today
- Coverage starts immediately
Do you need this type of program?
According to a recent survey, vehicle owners that fall under one or all the criteria below will benefit the most from a Powersports GAP 150 Protection or similar program:
- Loan maturity or financing term is still several years off
- Low income
- More exposed or vulnerable to negative changes in income and/or financial situation
- Large loan amount
If you feel that your financial situation is likely to change while your loan contract is still in effect, you should consider a GAP program as it could save you from paying for a vehicle that you are no longer able to use either because it has been damaged beyond repair (or repair cost is higher than its insured value) or stolen beyond recovery.
In either case, paying for a powersports vehicle that is considered a total loss and thus no longer fit or legally allowed for off-roading is a burden you would not want to shoulder. With guaranteed asset protection, you will not have to.
Do you wish to learn more about Torque Group’s Powersports GAP 150 Protection and how it can serve your customers at the dealership? Please feel free to call us at (800) 859-0590. You may also send a message at info@torque-group.com.
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