GAP PLUS Coverage Helps Protect More than "Upside Down" Car Buyers!

After a home, a new car is the largest purchase many of us ever made. With such a big part of your financial worth riding on four wheels, a totaled or stolen vehicle may break your heart and your budget, too. As many drivers have learned only after it's too late, a standard auto insurance policy might not provide all the financial protection you need. If your car's value is less than your auto loan's balance, you're "upside down" on your loan, and there's a gap that isn't covered. That difference is what a special type of protection, called gap coverage, is designed to cover. 
|
HERE’S A SCENARIO OF HOW GAP INSURANCE COULD WORK

• Loan balance after one year $15,000
• The value of the car after one year is $10,000
• Insurance settlement $10,000
• Deficiency balance $ 5,000
• GAP pays $ 5,000
• You owe $0 

​Without GAP coverage, you'd be responsible for the $5,000 deficiency balance. Do the numbers to see if GAP is right for you or get a quote on GAP Insurance today. 
_________________________________________________________________________________________

Do you need GAP coverage?  

• Made only a small down payment or none at all.
• Financed your vehicle for a long term (more than 60 months).
• Drive a lot, which reduces a vehicle's value more quickly.
• Rolled over negative equity from an old vehicle loan into the new loan.

Benefits Include:

• Eliminates or reduces “out of pocket” expenses for the remaining loan balance after the insurance settlement
• Provides $1,000 if you finance your replacement car with us
• We offer a "Free Look" period of 60 days where the borrower can receive a full refund for any reason.
• Offers a reduced price compared to car dealers; only $420
• Allows the cost to be financed with the loan.   ________________________________________________________________________________

$1,000 ​GAP Plus Waiver  

If the covered collateral is deemed a total loss, you may be eligible to receive an additional waiver from us.  To receive this additional waiver, you must finance your replacement vehicle with us within 90 days from the date the vehicle is determined to be a total loss. 

*Subject to certain exclusions and benefit limitations.  Please refer to your GAP Addendum or Certificate for all terms and conditions you will receive at closing.  Most types of vehicles are eligible, and you can generally include GAP PLUS coverage in your vehicle loan payment.
___________________________________________________________________________________________
As a Thank You for purchasing GAP, you will receive: 
Auto Deductible Reimbursement

Pays up to five hundred dollars ($500) per loss (UNLIMITED losses per year) when a Loss is filed and paid by the auto insurance company for a Covered Auto the Member owns or leases evidenced by the title or registration, AND insures under an Auto Insurance Policy designated the Member as the Named Insured for up to three years.
____________________________________________________________________________________________

TotalRestart - Auto Replacement Benefit

The last thing you want to consider right now is a total loss on your new vehicle... TotalRestart Goes Beyond Traditional Gap!  TotalRestart provides potential credit toward the replacement cost of your car based on the original value if it's stolen or damaged and declared a total loss.

The Total Restart Protection benefits:

• Help borrowers replace total loss vehicles with one similar to the one originally purchased.
• Provide borrower coverage beyond just forgiving the loan.
• Minimize uncertainty over the need for GAP
• Protects down payment and hard-earned equity.

The TotalRestart Protection benefit will be calculated as the difference between the covered vehicle purchase price at the TotalRestart contract effective date; less the covered vehicle’s actual cash value (ACV)³, up to the maximum benefit amount selected.  Subject to Maximum Coverage Limit selected. 
__________________________________________________________________________________________________________

Since 1986, CARFAX has been the nation's #1 vehicle history resource. Today they offer TopMark members a full suite of products to help you avoid problems associated with buying a used car or truck. CARFAX Vehicle History Reports give you the detailed history of any car, truck, or SUV in seconds. No report delivers more complete data - which is why CARFAX is the #1 resource for consumers, dealers, and law enforcement groups nationwide.

The purpose of this program is to assist our members who plan to purchase a used vehicle. CARFAX can provide our members with vehicle history information to minimize the risk of purchasing a vehicle with hidden problems.

A CARFAX Vehicle History Report purchased via the CARFAX website costs $39.99 for one vehicle. If you request a CARFAX Vehicle History Report through TopMark AND then finance the vehicle through us - your CARFAX report is FREE.

If you decide not to finance your vehicle through TopMark, the fee is only $24.99 - deducted from your TopMark account.

It's easy to get your FREE CARFAX Vehicle History Report

• Shop for your used vehicle.
• Visit any TopMark Branch or call us with your Vehicle Identification Number (VIN)

Our staff will pull the CARFAX report and review it with you. At your request, we will also e-mail and/or fax the report to you. For each report, $24.99 will be deducted from your TopMark account. If you finance the vehicle with TopMark, the fee is refunded. A CARFAX Vehicle History Report gives you certainty and confidence that your used car history is clean and clear. Call or stop by TopMark for details. Members can check out CARFAX at carfax.com.

Brochure