In the event your Porsche is declared a total loss due to an accident, theft, or natural disaster, your insurance company might reimburse you only for your vehicle’s assessed value. As a result, there could be a significant gap between what your insurer pays and the balance you owe on your Retail Contract plus your insurance deductible.
Porsche GAP Protection safeguards you by waiving the difference between your primary insurance settlement and the outstanding balance on your vehicle’s financing.
Considering the risks associated with theft, collision, and natural disasters, Porsche GAP can help put Retail Contract deficiencies and insurance deductibles behind you in the event of a total loss.1
Porsche Guaranteed Auto Protection (GAP) is available on new, pre-owned, and Porsche Approved Certified Pre-Owned vehicles on Porsche Financial Services Retail Installment Sale Contracts at the time of vehicle purchase only.
Waives the amount equal to the unpaid net balance of your loan less the Actual Cash Value of your vehicle as determined by the primary insurance company. In certain instances the Actual Cash Value will be based on a regionally used and industry-accepted source.
Includes coverage for up to $1,500 of your primary insurance deductible.
Waives covered losses up to $50,000.
1Please refer to your GAP Waiver Addendum for details. Programs vary by state. Maximum eligibility limits and certain exclusions apply. Note that you remain responsible for any past-due payments, late fees, and other charges on your Retail Contract.
2Deductible coverage is not available in Alaska and New York.
3Agreement is transferable within 30 days of covered vehicle resale if private party assumes your Retail Contract and no other terms of the Retail Contract are modified.
4Vehicle’s current value as determined by your insurance company. In certain instances the Actual Cash Value will be based on a regionally used and industry-accepted source.
1 Porsche Financial Services, Inc. (PFS) End of Term Lease Loyalty Program Offer (EOTLLP) Terms and Conditions: Qualifying customers are eligible for a waiver of up to 3 payments under an existing PFS lease agreement, depending on the number of payments remaining, upon vehicle turn-in when customer executes a new PFS lease or finance contract for an eligible Porsche vehicle. Certain qualifying customers may be eligible for a waiver of up to 12 payments, depending on vehicle model and year of existing lease and vehicle model and year of new lease. The number of monthly payments waived is based on the remaining term of the existing PFS lease agreement. The maximum number of payments waived will depend on the vehicle model and year. The amount of each monthly payment waived is set forth under the customer’s existing PFS lease agreement. Maximum amount of each individual monthly payment waiver is $2,500. If the monthly payment is greater than the maximum amount, the customer will receive the $2,500 waiver (customer is responsible for any difference between the waiver and the monthly payment). Not all vehicles qualify, please contact your authorized Porsche dealer for vehicle eligibility. Existing PFS lease agreement with an original term of less than 24 months is not eligible for the program. Customer must return existing lease vehicle (see existing lease agreement for return details) concurrent with entering into a new PFS lease agreement or PFS finance contract. Customer is responsible for satisfaction of all other terms and conditions of the existing lease agreement (excess mileage, excess wear, late charges, past due or non-waived payments, and any other fees or charges owed under the contract). The PFS EOTLLP is only applicable to scheduled payments on the existing lease agreement due on or after the new PFS contract date (single pay lease customers are not eligible). Past due payments are ineligible for the EOTLLP offer. Upon vehicle return, PFS will waive the disposition fee. The PFS EOTLLP cannot be redeemed as cash, nor can its value be applied or credited towards the new sale, lease, or finance transaction. Limit one PFS EOTLLP offer per specified customer account. PFS EOTLLP is non-transferable. Contact your Porsche Charleston for details.
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