You can purchase GAP protection on any motor vehicle except a recreational vehicle. This means a used car loan and a new car loan are the same.
GAP protection covers 125% of the “gap” between the value of what is owed, and what was covered. This means that depreciation isn’t a factor, and neither is your insurance company trying to use the lowest value in their final insurance resolution.
And, if you choose to get the GAP Plus Protection plan, you will also receive $1,000 towards the next new car loan with First Choice!