Auto Refinancing GAP Insurance - Protect Your Vehicle Investment

Don't get stuck paying for a car you no longer have. RefiJet’s Guaranteed Asset Protection covers the difference between the value of your car, motorcycle, truck or SUV and the amount due on your loan if it is totaled or stolen.

Waive any "gap" between your loan balance and insurance payout if your car is totaled.
Roll affordable coverage into your refinance loan. No separate payments needed.
Prevent out of pocket costs following accidents, theft or natural disasters

Get GAP Coverage

What Does Guaranteed Asset Protection (GAP) Cover?

Refinancing your car loan with a GAP waiver (insurance) protects you from paying out of pocket following a total loss. It’s not uncommon to owe more on an auto loan than your insurer is able to provide for you. With GAP insurance, you don’t have to worry about paying the difference between your loan and your car’s actual cash value.

Here’s an example of what may happen:

You refinance your car with GAP insurance. A few months in, the vehicle is stolen from your driveway. The police are looking for it but aren’t hopeful. You file a claim with your insurance company for the theft. They agree to file the claim, but they say the value of the car right now is just $15,000. You owe $17,000 on your loan, though.

In this case, your GAP coverage pays the $2,000 difference for you. It even contributes up to $1,000 towards your insurance deductible. That way, you can pay off the loan and go on to purchase a new car.

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If you did not have GAP insurance on your refinanced car, you would be without a car and owe your lender $2,000. That’s money you could be putting towards the down payment on a new car. If your loan to value ratio is more than 70%, GAP can be a very helpful product.

You might be a great driver, but accidents and theft still happen through no fault of your own. GAP can minimize your risks and make a bad situation a bit easier on both your mind and your budget.

What You
Can Expect
from GAP
Coverage

At RefiJet, we offer auto refinancing with GAP insurance from industry-leading providers. You may be eligible for several plans. Each one has slightly different features, for example, contributing toward your insurance deductible. One of our Financial Services Representatives can help you determine if GAP is right for you and what type of features are best to seek out.

Do your homework right now to determine just how much protection you have. You may even wish to read through your auto insurance policy to see how they would pay out in such an instance. Then, turn to RefiJet for help with GAP insurance after a refinance.

Should You Refinance a Car with GAP Insurance?

Speak to our agents about the benefits GAP offers. RefiJet makes the entire process very easy for you.

You can bundle the purchase of GAP into your refinance loan.
Existing GAP insurance doesn’t transfer when you refinance. You can cancel it, and you may be due a pro-rated refund.
GAP coverage can be very affordable and could save you thousands of dollars in unexpected situations.

Don't hit the road without considering GAP insurance with your auto refinance.

Get GAP Coverage

Helpful Resources

Frequently Asked Questions

What is GAP insurance and do I need it?

Guaranteed Asset Protection, also known as a GAP waiver or GAP insurance, helps cover the “gap” between what you owe on your car loan and what your car is worth if it’s totaled or stolen. It’s optional coverage, but it can be a smart move if you made a small down payment or recently refinanced.

How much does GAP insurance cost?

GAP coverage typically costs less than $100 a year. The total depends on your loan amount, vehicle type and provider. RefiJet allows you to refinance your car loan with GAP insruan bundled into a single monthly payment.

What does GAP insurance cover?

GAP insurance covers the difference between your loan balance and your car’s actual cash value if your vehicle is declared a total loss due to theft or an accident. It doesn’t cover repairs, deductibles or missed payments.

Does GAP insurance transfer when you refinance?

Refinancing your car loan usually cancels your original GAP policy. That’s because GAP is tied not your loan, not your vehicle. If you want to get GAP insurance after refinancing, consider using RefiJet to roll GAP coverage into your new loan.

Does GAP insurance transfer when you refinance?

If your car is totaled, your insurer will pay the actual cash value of the vehicle. If you have GAP coverage, the provider will waive or pay any remaining balance on your loan. This protects you from paying out of pocket for a car you no longer have.

Learn More

Understanding GAP Waiver (Insurance) When Refinancing Your Car

Explore the ins and outs of GAP waiver insurance when refinancing a car loan. Learn how it works and how it can help protect against depreciation.

What’s the Difference Between a GAP Waiver vs. GAP Insurance?

Guaranteed asset protection (GAP) waivers and GAP insurance have several differences, and it’s important to know which one is the best option for your vehicle. Learn more about GAP waivers and insurance to see how to obtain each and their respective benefits.

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Auto Refinancing GAP Insurance - Protect Your Vehicle Investment

What Does Guaranteed Asset Protection (GAP) Cover?

Here’s an example of what may happen:

What You
Can Expect
from GAP
Coverage

Should You Refinance a Car with GAP Insurance?

Customer Reviews

Helpful Resources

Frequently Asked Questions

Related Articles

LET’S GET STARTED

Auto Refinancing GAP Insurance - Protect Your Vehicle Investment

What Does Guaranteed Asset Protection (GAP) Cover?

Here’s an example of what may happen:

What You Can Expect from GAP Coverage

Should You Refinance a Car with GAP Insurance?

Customer Reviews

Helpful Resources

Frequently Asked Questions

Related Articles

LET’S GET STARTED

What Does Guaranteed Asset Protection (GAP) Cover?

What You
Can Expect
from GAP
Coverage