The holidays are finally here, and you’ve been patiently waiting for some much-needed time to unwind. Delicious food, thoughtful gifts and the opportunity to share warm laughter with friends and family are all aspects of your winter travels that you most look forward to.
The last thing you need is an unexpected accident on the road toward a family gathering – nothing can spoil the holiday spirit faster than having to pay for a replacement vehicle, especially if you just treated yourself to a new car. Guaranteed asset protection (GAP) waivers can save you time, money and a mountain of unwanted stress this holiday season.
“GAP waivers offer peace of mind and ease the burden when your car is totaled,” said Tim Meenan, executive director of the Guaranteed Asset Protection Alliance. “The holidays can be costly enough – no one needs to add the expense of dealing with the aftermath of an accident or car theft.”
Almost one in four vehicle crashes is weather-related, and cold weather takes a toll on your car as batteries lose up to 30 percent of their cranking power, fluids grow thicker and moving parts get stiffer. These effects can make an accident more likely at this time of year.
Your cherished new vehicle may have been worth every penny to you, but a car’s financial value begins depreciating the moment it’s driven off the lot. Insurance typically covers only the market value – not the amount you agreed to pay for the vehicle. A GAP waiver may eliminate some or all of the amount you still owe but isn’t covered by insurance.
No one wants the money they’ve been saving up for holiday gifts to suddenly be drained to pay off a car loan – especially for a car they can no longer drive! A GAP waiver protects from pricey mishaps or theft, potentially eliminating the balance of your loan debt.