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CreditDefender® and GAP (Guaranteed Asset Protection)
If you're like most people, you may be worried about unexpected, real-life events that could happen during the term of your loan. Things such as losing your job or getting injured, which may leave you scrambling to pay your monthly bills.
CreditDefender
Ent offers CreditDefender, which can relieve the pressure of your loan payments during certain unexpected events.
CreditDefender protects you, your family and your credit rating. You have the peace of mind knowing your monthly loan payments will be cancelled in the event of death, disability or involuntary unemployment – depending on the CreditDefender
plan you select.
GAP (Guaranteed Asset Protection)
Protect your vehicle investment, not just its value.
You could lose more than your vehicle if it is stolen or involved in a major accident, you could lose your investment. Because most insurance policies only cover the value of your vehicle, which rapidly depreciates within the first few years of
ownership, your loan balance may be higher than the value of your vehicle.
With Guaranteed Asset Protection (GAP) offered through Ent, you can make the smart choice to protect your vehicle investment. GAP is a non-insurance product that may cover the “gap” between the vehicle’s value and the amount you still owe on your loan.
And, by enrolling in GAP protection through Ent, you’re automatically eligible for the GAP Advantage which provides you with an additional $1,000 toward the financing of a new vehicle when financed through Ent. Not only will you receive the
difference between the value of your vehicle and its unpaid loan balance, you’ll get a head start on financing a new or used replacement vehicle.
The following example illustrates why you may want to consider GAP coverage for your vehicle loan:
Let’s say you purchased a vehicle a year ago for $25,000 and it’s now valued at $16,000. You still owe $20,000 when it is stolen and never recovered. Your insurance company only reimburses you for the value of your vehicle, $16,000, leaving you to
repay the remaining loan balance of $4,000. GAP will cover that difference for you.
View a sample contract to learn more about GAP qualifications and restrictions.
Speak to a lending specialist to discuss either of these loan options in more detail by calling (719) 574-1100 or 800-525-9623.
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