Depreciation Rises. Valuations Fall.

Based on recent trends, it is safe to say that “Depreciation” is back in a big way and that auto industry providers of “Local Market Valuation reports” are back to their old tricks! This double whammy is hitting consumers hard if their vehicles are deemed a Total Loss and drives up the need for quality GAP protection.

White BMW Total Loss GAP claim

Take a look at this GAP claim. The borrower had equity at the loan origination and the LTV was just 91.26%. Many lenders might not have even offered GAP to this borrower, but fortunately, in this case, the lender did! GAP paid the entire remaining balance of $8,241.65!

So…the moral of this story is, make sure to let your borrowers know about your loan protection products and then let them make an informed decision.

Discover how Frost GAP can help your members save after unexpected events, too!

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Let the industry veterans at Frost give your GAP program an annual checkup. With a “no sales-pitch promise”, it’s quick and easy!

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  3. Program information will be shared and we will conduct our analysis. Upon completion, we will schedule a mutually-agreeable time to review the findings.
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