Powersports vehicles are built differently, which is why they come with a hefty price tag. They’re built for recreation so, the components and parts you see in them aren’t the usual ones you’d normally see in an on-road vehicle like a four-door sedan or a family car, shares trusted Powersports GAP 150 Total Loss Protection provider Torque Group. For owners of these power machines, they’re an investment, which is why they feel devastated beyond words when they suddenly lose their vehicle, whether through theft or it gets damaged beyond repair.
Powersports GAP 150 Total Loss Protection
There’s no doubt that loss of a vehicle is a devastating and frustrating event, but what’s even more frustrating for owners is having to pay for a vehicle that is no longer in their possession. Typically, owners will still need to pay what they owe the dealership even if their ATV, UTV, dirt bike or other powersports vehicle has been stolen and declared irrecoverable, or damaged beyond repair or the repair cost is higher than its insured value.
What usually happens is that the insurance payout will cover the remainder of the auto loan, but if the payout isn’t enough, the owner will have to pay the difference between what still remains of the loan or what you owe the dealer and the vehicle’s actual cash value or ACV from your own pocket.
This is why owners purchase Powersports GAP 150 Total Loss Protection or a similar program/contract to protect them against monetary loss should they find themselves dealing with the situation mentioned above.
The premise of this type of protection is to pay for the difference between what you owe the dealer and the vehicle’s ACV. Having this type of program, you can rely on somehow puts your mind at ease knowing that you will at least be spared from financial burdens should you lose your vehicle.
Now, how this program works or details of its coverage may differ from provider to provider, but basically, this type of total loss protection program will cover some or all of what you’re still obligated to pay after your insurance payout.
Put your customers’ minds at ease; give them Torque Group’s Powersports GAP 150 Total Loss Protection
Are you ready to give the best coverage for your customers in case of total loss? Please feel free to contact Torque Group at (800) 859-0590. We’d be glad to discuss details of this program with you. You may also call us to learn more about other F&I solutions we offer.
