WHAT IS GAP WRAP ?
“GAP WRAP” IS NOT ASSOCIATED
WITH “GAP INSURANCE”
IT IS A DIFFERENT PRODUCT.
“GAP WRAP”
IS A VERY LIMITING POLICY!
IT WAS INVENTED BY CAR DEALERS
BECAUSE THEY CAN NO LONGER
SELL GAP INSURANCE ON LEASES.
GAP INSURANCE WAS A VERY
PROFITABLE PRODUCT
FOR THE CAR DEALERS.
SINCE GAP INSURANCE IS NOW
INCLUDED IN ALMOST ALL
LEASES AT NO CHARGE
“GAP WRAP” WAS INVENTED.
“GAP WRAP”
IS A WRAP AROUND POLICY
WHICH IS SUPPOSE TO ENHANCE
THE GAP INSURANCE ALREADY
IN FORCE.
NOBODY IN THEIR RIGHT MIND
WOULD EVER BUY GAP WRAP
IF IT IS PRESENTED EXACTLY
AS IT REALLY IS!
CONSUMERS ARE GENERALLY
NOT TOLD THAT THEY ALREADY
HAVE GAP INSURANCE INCLUDED
IN THE LEASE AT NO CHARGE.
BUSINESS MANAGERS SELL
GAP WRAP REPRESENTING IT
AS IF IT WERE GAP INSURANCE.
GAP INSURANCE IS A GREAT
PRODUCT SO THE CONSUMER
BUYS “GAP WRAP” BASED ON
THE MISREPRESENTATION OF
THE BUSINESS MANAGER.
NO CONSUMER WOULD PURCHASE
“GAP WRAP” IF THE KNEW THEY
HAVE “GAP INSURANCE” ALREADY
INCLUDED IN THE LEASE.
IF THE CONSUMER PUTS IN A CLAIM
UNDER THE GAP WRAP POLICY
HERE IS WHAT HAPPENS.
CLAIMS ARE ONLY PAID AFTER THE
“GAP INSURANCE” POLICY HAS PAID
THE CONSUMER. THE GAP WRAP
POLICY IS ONLY RESPONSIBLE FOR
ANY MONIES NOT PAID BY THE
GAP INSURANCE.
PLUS
ANY MONEY PAID OUT BY THE
GAP WRAP COMPANY IS MADE
PAYABLE
TO YOU AND THE CAR DEALER
FROM WHICH YOU ORIGINALLY
LEASED THE VEHICLE.
IF YOU DO NOT RETURN TO THE
ORGINAL DEALER THE CHECK IS
NULL AND VOID.
GAP WRAP IS A RIP OFF!