bridge the gap

GAP with SunWest builds the bridge to financial security, because the last thing you want to deal with in a total loss is figuring out how you’re going to pay off a loan on a car you no longer own.

get a quotebenefits

features you can appreciate

pays up to 125%
$1,000 credit
flexible purchase options
deductible reimbursement

your car is your freedom

One of the most anxiety-inducing situations to deal with is the loss of your vehicle to an accident that leaves it totaled, or an unrecovered theft. Vehicles are quick to depreciate, and your insurance provider will only pay out the value of the vehicle at the time of loss.

This often leaves many people with a deficit on their loan that they’re scrambling to pay off before they can regain their freedom with a new car.

meet gap: guaranteed asset protection

Reduce the stress of losing your car, either to thieves or a wreck, and avoid falling in the gap of negative equity.

Get your free quote
for example, let’s say your car is totaled

Current Loan Balance: $22,000
Current vehicle value: $18,000

without gap

Insurance pays: $18,000
You pay: $4000

with gap

Insurance pays: $18,000
GAP pays: $4000

You’re stuck paying the $4,000 balance remaining after your insurance pays.
You pay $0 + receive $1,000 toward your new SunWest car loan!

gap coverage benefits

pay it off

GAP pays out up to 125% of the vehicle value at the time of total loss event.

all your autos

GAP is available for:
● Cars
● Motorcycles, ATVs, UTVs
● Boats + other Watercraft
● RVs + Trailers

the right price

GAP is a one-time fee fo $425. That's about 1/2 of what you can expect to pay through most dealer plans which often include less coverage.

roll it in or pay upfront

Add GAP to your loan to avoid an out-of-pocket expense OR pay for it upfront to avoid financing it and paying interest.

$1,000 incentive

Finance your replacement vehicle at SunWest within 90 days + get a $1,000 credit1 paid to the principal of your new loan.

don't sweat it

Covers up to 90 days of delinquent or skipped payments per loan term.

get reimbursed

GAP comes with Auto Deductible Reimbursement (ADR)2 which reimburses your deductible up to $500.

cover multiple vehicles

ADR coverage extends to other vehicles you own for no additional cost.2

learn more

gap claims process

Going through a total loss event is enough to make anyone's head spin. Let's break down the claims process to make it less overwhelming.

1.

submit your claim to your insurance provider.

Your insurance provider will assess your claim to determine whether the vehicle is considered a total loss due to damage or unrecovered theft.

2.

get your insurance payout.

After deeming your vehicle a total loss, your insurance will review the market value and provide you with a document stating the payout amount + the funds in the form of a check payable to SunWest as your lienholder.

3.

report your gap claim to sunwest credit union.

If your insurance payout isn’t enough to cover your outstanding loan balance, notify SunWest to begin your GAP claim. We’ll review your contract + pay off the remaining loan balance.

4.

get your new car + your $1,000 gap credit.

Let your SunWest loan officer know at the beginning of the new loan application that this is to replace the vehicle paid off via GAP + we'll apply your $1,000 GAP credit to the principle balance of your new loan.

keep yourself cruising

A total loss situation can take a lot out of you, but it doesn’t have to be the end of the road. Guaranteed Asset Protection means you have less loan to worry about.

602.866.11001.866.897.9378 Get your free quote

more protections to keep you covered

keep your positive equity

If you saved up for a down payment on your new car, or you wheeled and dealed with the dealer for a large trade-in, you don’t want to lose the equity you’ve built up. Protect it with Depreciation Protection Waiver (DPW).

drive me to dpw

don’t let a break cause a breakdown

Manufacturer warranties only extend so far and cost an arm and a leg. Keep your body parts attached, and get comprehensive Mechanical Breakdown Protection (MBP) for less than the dealer warranty.

drive me to mbp

compare insurance for the best rate

Financed vehicles have specific insurance requirements, such as full coverage. Have a TruStage representative review the requirements necessary to avoid any loan penalties, as well as to compare rates for the best deal.

drive me to trustage

GAP FAQ

What’s the difference between GAP + DPW?

GAP pays for the difference of what your insurance pays out and how much you still owe on your loan. Whereas, DPW pays you the difference of what you owe and the MSRP value of your vehicle (up to $10k).

GAP makes sure you don’t owe money. DPW makes sure you’re owed money.

Do I have to pay anything back from the claim if my stolen vehicle is recovered?

Your insurance will set a waiting period (typically 30 days) before paying out your claim, but once that claim is paid, you are no longer the owner of the vehicle, your insurance is. If it is recovered, notify your insurance immediately, and they will take it from there.

How much does GAP cover?

GAP covers up to 125% loan-to-value, meaning that it will pay for up to 25% more than the current vehicle.

When can I add GAP to my loan?

GAP can be added at the time of loan closing or within 30 days.

Can I cancel GAP and get a refund?

You can cancel your GAP within 60 days for a full refund. Cancellations after 60 days will receive a prorated refund.

How long does GAP insurance last?

GAP is insurance specific to your loan, which means that it will last as long as your loan term. GAP does not transfer from one loan to the next, so if you’ve previously purchased with another lender or the dealer, this coverage will not transfer when refinancing, and you would need to purchase a new policy.

1. New vehicle must be purchased within 90 days of your original GAP claim. Your vehicle GAP claim must be paid out on eligible loans if your vehicle is totaled or stolen and not recovered. See policy for complete details.
‍
2. Auto Deductible Reimbursement can be used twice a year, for the first 2 years of your loan. ADR coverage extends to other vehicles owned and insured by the primary borrower listed on the GAP contract.