Toyota Guaranteed Auto Protection Program
Toyota Guaranteed Auto Protection (GAP) Program provides retail or
lease customers with one very significant benefit - peace of mind. This
piece of mind comes from knowing that you and your family are protected
from the burden of an unexpected financial obligation if your vehicle
is declared a total loss.
What Your Auto Insurance Company May Pay
might assume that the physical damage auto insurance you have is
sufficient to cover any losses related to your vehicle. However, when a
vehicle is declared a total loss, the primary auto insurance settlement
is generally based on the market value of the vehicle. This amount may
be substantially less than the balance due on the vehicle.
pays the difference between the balance on your retail or lease contract
and your vehicle's market value*. Without GAP, you are generally
responsible to pay this amount. With GAP, the deficiency balance is
paid, including your auto insurance deductible in most states.
any delinquent payments, taxes, and past due charges. See agreement,
certificate, or waiver for complete details. Some restrictions apply.