Bridging The GAP
Gap Insurance Covers The Difference
Discover a Crucial Protection: Gap Insurance. In the unfortunate event of your loaned vehicle being declared a total loss, there can be a disparity between your comprehensive insurance payout and the remaining loan amount. Link Finance Gap Insurance steps in to cover this shortfall, ensuring you’re not left with unexpected financial burdens.
With Link Finance Gap Insurance, bridge the gap between your Comprehensive Vehicle Insurance payment and your outstanding loan, providing a safety net in times of total loss.
As an extra layer of support, Link Finance Customer Care Package also extends a financial benefit of up to $5,000, directly linked to your loan contract. Safeguard your loans and drive with confidence, knowing you have comprehensive coverage and added financial security.
For any queries, feel free to contact our team at 0800-1177-86. Your next adventure awaits!
Understanding Gap Insurance
There are various reasons why the balance on your car loan ends up being more than an insurance company pays out in the event of a claim.
One of the most common is where you add extras onto your car loan at the time of making the purchase. This includes registration fees, stamp duty, dealer delivery, and vehicle insurance costs. None of these things add any value to the car, so they can cause a difference between the loan value and what the car is worth. Sometimes this difference can be substantial.
Another common reason for shortfalls to occur is simply because of the accrued interest on your car loan and the depreciation in the value of your car. When you combine these two factors, you can end up owing more on your loan than the car is worth.
Benefits of Link Finance GAP Insurance
- Covers the shortfall in the value of your car and the amount paid out by your insurer if your car is stolen or written off
- Gets you back on the road quickly as it will be easier to get a new loan to buy another car
- Helps protect your credit rating
- Can be included in your loan and covers you for the full term of the loan
- Our team will search the market to find you the best GAP insurance deal
Frequently Asked Questions
Gap Insurance, or Guaranteed Asset Protection Insurance, covers the difference between your comprehensive insurance payout and the amount you owe to your loan company in the event of a total loss.
If your financed vehicle is declared a total loss, there can be a shortfall between your insurance payout and the remaining finance amount. Gap Insurance protects you from shouldering this financial burden.
Yes, Gap Insurance is specifically designed for vehicles with an outstanding loans balance. It becomes crucial when there is a financial disparity in the event of a total loss.
Yes, Gap Insurance is typically a separate policy. You can obtain it to complement your comprehensive insurance for comprehensive coverage.
How Much Would You Like To Borrow?
Apply NowEstimated
Repayments From
$783
$46,965 Total
Total $46,850
Calulated At An Example Rate
What You Can Expect From Link Finance
- Attractive Interest Rates
- Minimal Deposits
- Quick Approval Process
- Simple and Easy Applications
- Fast and Effortless Approval
- Pre-Approved Car Loan
- Apply Now, Drive Today
Who Can Apply For Finance?
- Learner Drivers Licence
- International Driver’s Licence
- Poor Credit History
- New Immigrant
- Work Visa Holders
- International Student Visa
Our Enhanced Coverage Benefits
In the unfortunate event of a total loss due to theft or an accident involving your car, our GAP insurance includes a customer care package valued at a maximum of $5,000. This package comes into effect with a valid and approved claim, offering additional financial support during challenging times. Link Finance commitment is to provide comprehensive protection, ensuring that you not only bridge the financial gap with our insurance but also receive valuable assistance through our customer care package.
MBI For Replacement Vehicle
$1,000
Replacement Of Vehicle Up To
$1,000
Insurance Period up to
1 Year
Find Your Insurance Agent! Say Hello
Insurance Agent
Quick Link
Contact
- 108B Station Road OTAHUHU, Auckland
- 57 Brodie Street, Ilam, Christchurch
