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What is Tenet's GAP Insurance Add-On?
What is Tenet's GAP Insurance Add-On?
Updated this week

eaGuaranteed Asset Protection (GAP) Insurance covers the remaining balance on your loan if something were to happen to your car. If your car was totaled, for example, and your normal vehicle insurance claimed the car's value at the time of the accident was $30k, but you still had $40k remaining on your loan balance, the GAP Insurance would cover the remaining $10k so that you don't have to pay anything out of pocket.

Like all of our other Add-Ons, GAP Insurance can be added on top of your Max Loan Amount as part of your Monthly Payment, without increasing your interest rate.

How much does GAP Insurance cost?


36-60 Months Loan Term

61-72 Months

Loan Term

73-84 Months

Loan Term












All Others




Colorado* has limits on policy premiums: 2% of Amount Financed or $300, whichever is greater.

Tenet does Not offer GAP Insurance in these States:

Arkansas, Kentucky, Missouri, North Carolina, Ohio, and Vermont.

Other State Restrictions

  • Arizona - Amount Financed must exceed $10,000.

  • Colorado - 2% of Loan Amount or $300 (greater of).

  • Washington D.C. (District of Columbia) - GAP + Finance Charge < 24%.

  • Florida - APR < 18%.

  • Kentucky - Amount Financed must exceed $15,000.

  • New Hampshire - If Amount Financed < $10K, APR must be <10%.

  • New Jersey - APR < 16%.

Who is Tenet's GAP Insurance Partner?

Dealer Loyalty Protection (DLP) - A provider of aftermarket protection products serving automotive agents, dealers, and consumers throughout the United States.

How do I claim my GAP Insurance?

If your vehicle is considered totaled or lost by your Insurance Company, and the Insurance Company's payoff is less than the remaining balance on your Loan with Tenet, please contact us directly with your Insurance Agents contact info, in order for us to file the claim with Dealer Loyalty Protection (DLP). We will require the following from you or your Insurance Agent:

  • Insurance Declaration Page.

  • Total Loss Breakdown.

  • Valuation Report.

  • Police Report / Reason for Loss Letter.

Is GAP Insurance Refunded if I ask to cancel or I pay off my loan?

You have the unconditional right to cancel this optional Addendum for a refund/credit of the unearned portion of the charge for this Addendum at any time by contacting Tenet Support. Paying off your loan will automatically cancel this Addendum. If any cancellation occurs within thirty (30) days of the Addendum purchase, you will receive a full refund/credit of the Addendum cost.

After thirty (30) days, a refund/credit of the Addendum cost will be calculated by the pro rata method, or by the refund method as may be required by state or federal law, minus a $50.00 cancellation fee.

In the event of Constructive Total Loss and a Benefit is waived, the Addendum will be deemed as fully earned and no refund will be due.

Can I add GAP to my Loan once it has been funded?

Unfortunately, we can not offer GAP Insurance once a loan has been opened and funded. We recommend looking into our GAP Insurance Partner, DLP - A provider of aftermarket protection products serving automotive agents, dealers, and consumers throughout the United States.

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