Road Hazard (Tire and Wheel Protection) Nearly everyone has heard the phrase "bumper-to-bumper" coverage. One of the most common sources of frustration for people is discovering the tires are not protected under bumper-to-bumper coverage. Tire & Wheel protection provides upgrades to new and used vehicle warranty products. Unlike many F&I products, Tire & Wheel can be provided to all new, used, leased, or financed vehicle purchases. Tire & Wheel are simple products, which are easily understood and accepted. They protect (you) the consumer by repairing or replacing the tire and / or wheel from damage caused by blowouts, nails, metal, potholes, glass, cracks, breaks, or any other road hazard. The consumer receives a new or repaired tire and pays nothing. Tire & Wheel pay 100% for the tire, wheel (if applicable), valve stem, mounting, balancing, and sales tax. Unlike competitor programs, the benefits of Tire & Wheel are not prorated. The full cost of the repairs or replacement tire is paid for the term of the coverage. Looking at your driving habits we can establish the term of coverage, though it usually ranges between three and five years. Uniformly, coverage ends at a tread depth of 3/32 of an inch. G.A.P. (Guaranteed Asset Protection) GAP is a loan deficiency waiver designed to eliminate your unpaid net loan balance in the event your vehicle is stolen or damaged beyond repair (totaled). Many times, when people suffer a total loss to a financed vehicle, the proceeds from the primary insurance company are insufficient to satisfy the lender. This makes a bad situation even worse, and can cost the customer several thousand dollars. GAP is a product that allows the customer to walk away from the financial obligation described above. GAP pays the difference between the primary insurance company actual cash value determination and the outstanding finance balance in the event of a total loss or theft of vehicle. A one-time charge for GAP, usually included in the monthly payment, is paid at the time of financing inception. Our customers and lenders like GAP because it provides a win-win situation for everyone. The lender is financially satisfied in the event the vehicle is declared a total loss, and the customer avoids a charge of several thousand dollars at a time when money will be needed for a replacement vehicle. GAP provides the most comprehensive protection available, which: • Is available on lease, loan and balloon loan terms up to 84 months
• Includes the primary insurance deductible portion of the deficiency up to $1,000 You can add the cost of GAP to you loan during the loan closing. If you've recently closed your loan, you may still have the opportunity to purchase GAP. Call (800) 473-5953 for details.
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