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Agreement No.: GAP ADDENDUM Financing Agreement Type: Installment Sale Contract Loan Lease Other COVERED VEHICLE INFORMATION M.S.R.P. Original Contract Date: Make: Year: Term (Months): Model: VIN#:.

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How to fill out the Gap Addendum online

Filling out the Gap Addendum online is a straightforward process that helps protect you against financial loss in the event of a total loss of your vehicle. This guide provides step-by-step instructions to ensure that you can complete the form easily, regardless of your previous experience.

Follow the steps to complete the Gap Addendum online.

  1. Press the ‘Get Form’ button to access the Gap Addendum. This will allow you to open the document and begin filling it out in your preferred online editor.
  2. In the 'Financing Agreement Type' section, select one of the options: 'Installment Sale Contract,' 'Loan,' 'Lease,' or 'Other' by clicking the appropriate checkbox.
  3. Complete the 'Covered Vehicle Information' section by entering details such as MSRP, original contract date, make, year, model, VIN#, APR%, mileage, and whether the vehicle is 'New' or 'Used.' Ensure that all fields are filled in accurately.
  4. Fill in the 'Dealer Information' section with the dealer's name, fax number, phone number, address, dealer number, city, state, and zip code.
  5. Provide the 'Lender/Creditor/Assignee Information' including the lender's name, fax number, phone number, address, finance agreement number, city, state, and zip code.
  6. Enter your personal information in the 'Borrower Information' section, including last name, first name, middle initial, phone number, address, city, state, and zip code.
  7. Choose whether you elect to purchase the Gap Addendum by checking the box 'I ELECT THE GAP ADDENDUM.' If you do not wish to purchase it, check the 'I DO NOT CHOOSE TO PURCHASE THE GAP ADDENDUM' box.
  8. Sign and date the form in the designated areas to confirm your acknowledgment of the information provided and your consent to the terms.
  9. Finally, save the changes, and you will have the option to download, print, or share the completed Gap Addendum as needed.

Complete your Gap Addendum online today to ensure your financial protection!

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Gap insurance is a good option for the following types of drivers: Drivers who owe more on their car loan than the car is worth. If you are currently making car loan payments, be sure to calculate the loan balance and weigh it against your car's current cash value. ... If so, you should strongly consider gap insurance.

For example, if you paid $1,000 for 36 months of insurance coverage, the monthly amount would be $27.78. If you paid the car off at the end of 24 months, you would have 12 months remaining, which means a refund of $333.36 for the time you didn't use the coverage.

In order to get a refund for gap insurance coverage, you need to have the mileage on your vehicle verified. Take the vehicle to the dealership where you will trade or sell the vehicle. Ask them to give you an odometer disclosure statement. This statement officially states what the current mileage on the vehicle is.

GAP Addendum this Guaranteed Automobile Protection contract. Maximum Eligibility Limit - With regard to new vehicles, the MSRP of $125,000, and with regard to used vehicles, the NADA retail value of $125,000 or a maximum financing amount of $125,000.

Can You Get Gap Insurance After You Buy a Car? You may be able to get gap insurance after you buy a car, depending on the model year of the vehicle. Gap insurance isn't just sold at car dealerships many insurers offer gap insurance as part of a car insurance policy.

Gap insurance is a good option for the following types of drivers: Drivers who owe more on their car loan than the car is worth. If you are currently making car loan payments, be sure to calculate the loan balance and weigh it against your car's current cash value. ... If so, you should strongly consider gap insurance.

You do not get your full GAP coverage refunded back to you once you pay off your car. When you pay your GAP insurance premium in advance, you are entitled to a refund of the unused portion if you pay off your vehicle early. ... You may receive a small refund if you cancel early in the month.

A gap waiver is an agreement whereby the creditor or lessor agrees to waive the debtor's or lessee's obligation for the difference between the gap amount1 and the actual cash value of the property. The offering of a gap waiver is not considered doing of an insurance business if three conditions are met.

GAP (which stands for guaranteed asset protection) is either an addendum that amends your financing agreement or a separate insurance policy that accomplishes the same purpose.

On average, a dealership will charge you a flat rate of $500 to $700 for a gap policy. By contrast, a major insurer will typically price it at 5% to 6% of the collision and comprehensive premiums on your auto insurance policy.

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