Vehicle depreciation can put you in a financial bind if your car is totaled or stolen. The moment you drive off the lot, the value of your vehicle begins to decline – often faster than you can pay down your loan. In fact, the average new vehicle loses about 20% of its value in the first year and around 60% over five years. That means if your vehicle is declared a total loss due to an accident, theft, vandalism, or natural disaster, you could owe significantly more than what your insurance company will pay for the car’s current market value.

With SmartGAP, you’re protected against this financial risk. Whether you’re financing a new Chevrolet in Detroit, leasing a GM in Redford, or cruising around Farmington Hills in a pre-owned vehicle, SmartGAP helps cover the difference between what you owe and what your insurance pays. This ensures you’re not stuck with an expensive balance on a vehicle you no longer have, giving you true peace of mind on every drive.