Should You Buy Gap Insurance?
In the event your vehicle is damaged or stolen, your auto insurance only covers the vehicle’s replacement value. However, due to depreciation, there could be a large difference between the replacement value and your loan balance - and you would be responsible for paying the difference.
That's where Guaranteed Asset Protection (GAP) can help and potentially save you thousands. MIDFLORIDA offers GAP insurance to our members for only $499 and it can be added to your MIDFLORIDA auto loan for convenience.
Call our Loan department at (863) 284-5626 or toll free (855) 560-5626 for details.