• Sales: 877-331-5419
  • Service: 757-337-5312
  • Parts: 877-331-5419

3400 Western Branch Blvd Directions Chesapeake, VA 23321

Toyota

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Total Loss Protection Plan (GAP)

Total Loss Protection Plan*
 
It's called "the gap." It's the difference between the actual value of your car and the amount on your auto loan or lease at the time of a total loss. In the first two or three years of ownership, your car may actually be worth less than your your loan payoff.

If your car were a total loss, this "gap" could translate into thousands of dollars that you would still owe after your insurance paid you the actual cash value of your vehicle
*This is not an insurance product.

                            




GAP Protection    
In the event of a total loss, any remaining balance due on your loan or lease after the payment from your insurance company is waived by the dealer/lender.** In other words, should a balance be left over after your insurance pays the market or cash value, all you will have to pay is your insurance deductible.

** Does not include any late fees or past due amounts.



GAP Plus Protection *    
GAP Plus (GPP) waives the same out-of-pocket expenses as GAP, and also includes your insurance deductible up to a maximum of $1,000.

*Coverages may not be available in all states. See your dealer for details.

Limitations of Coverage
This information is intended to provide only an outline of the terms and conditions of the Total Loss Protection/GAP Program described in this brochure and should not be relied upon at time of purchase of your vehicle. For exact terms and conditions, please review the Total Loss Protection/GAP Addendum itself.

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First Team Toyota

3400 Western Branch Blvd
Directions Chesapeake, VA 23321

  • Sales: 877-331-5419
  • Service: 757-673-2345
  • Parts: 757-337-5312
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