Unparalleled GAP Protection that covers difference in purchase cost and depreciated value.
GAP FINANCIAL LOSS PROTECTION
Auto Shield Canada has reinvented negative equity protection to provide Canadians with everything they need to have peace of mind with their auto loans. You may know this type of coverage as GAP Protection, but many other providers and GAP programs fall short of true negative equity protection as there are scenarios that leave vehicle owners unprotected.
If the vehicle is involved in an accident and the vehicle is written off, vehicle owners can be left with the outstanding loan balance and no vehicle if the primary insurance payout falls short.
The FLIP Membership Program Covers:
- Leased vehicles
- Vehicles purchased via Loan or Line of Credit
- Vehicles purchased for Cash
Coverage Available for:
- Trade-in vehicle
- Newly purchased vehicle
- Depreciation of a newly purchased vehicle
- Negative equity on the trade-in vehicle
Incident protection Coverage
Incident Protection provides true negative equity protection as any scenario where the vehicle loan could be worth more present-day value of the vehicle is covered.
If you’re involved in an accident that leaves a damage record on your vehicle’s history report, there is a good chance that the vehicle’s resale value could be adversely affected. This means vehicle owners are left with more negative equity as the present-day value of the vehicle is less than the outstanding loan amount.
This protection plan offers you an In-Store Member Credit at the original selling dealership that can bridge the “GAP“ when you trade in your vehicle for a new one.
*Note: Not available in all provinces
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