Guaranteed Asset Protection (GAP)

You do not have to worry in the event of total loss or total theft providing all terms of your lease agreement have been followed and proper insurance coverage is in place at time of the incident. GAP (Guaranteed Asset Protection) covers any difference between your insured value and HFS actual book value. This protection is for the full term of the lease. GAP will not cover past due payments, insurance deductibles, late charges, fines, or any other miscellaneous fees. Furthermore, GAP does not insure against excess depreciation from excess km on the vehicle (greater than 24,000km per year or if the customer has purchased excess km). In the event of total-loss, please note that GAP does not reimburse any down payments made to reduce the capitalized cost.