Porsche Protection Plan Products
Porsche Guaranteed Auto Protection (GAP) Plan
available from the Porsche Charleston Finance Center
Open Today! Sales: 9am-7pm | Call us at: Call Sales Phone Number(843) 996-1452
Coverage in case of a total loss
What is GAP?
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.
How GAP protects your investment:
Here is an example of how Porsche GAP might cover a vehicle declared a total loss:
| Outstanding Retail Contract balance | $75,000 | |
| Insurance assessment of vehicle’s Actual Cash Value4 |
– | $66,500 |
| Amount You Owe | = | $8,500 |
| Primary insurance deductible2 | + | $1,500 |
| Your potential expense | $10,000 | |
| Waived by GAP | – | $10,000 |
| Amount you owe | $0 |
This example is for illustrative purposes only. Actual calculation and dollar amounts may vary, including outstanding Retail Contract balance, insurance assessment of vehicle’s Actual Cash Value, and the deductible amount. Please refer to your GAP Waiver Addendum for a complete list of benefits, exclusions, and limitations.
Coverage information:
- Waives covered losses up to $50,000
- Includes coverage for your insurance deductible up to $1,5002
- Covers Retail Contract balance/amount financed up to 150% of the vehicle’s MSRP/NADA value
- Available on Retail Contract terms up to 84 months
- Transferable for a $50 fee if you sell your vehicle to a private party3
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.
Coverage exclusions may apply:
- Any amount or term exceeding the program maximums
- The following deductions taken by the primary insurer: prior damage, salvage, missing items, excess towing, custom equipment, and storage
- Vehicles used for competitive driving, racing, or a prohibited commercial purpose
- Total losses resulting from the customer’s dishonest, fraudulent, or illegal acts (such as DUI), or those committed by the customer’s family member or other person acting under the customer’s authority
- Leased vehicles or balloon loans
Additional exclusions may apply. Please see your GAP Waiver Addendum for specific coverage details, including limitations and a complete list of exclusions.
Contact Us
Meet the Porsche Charleston Finance and Insurance Team
Special Offers
-
2.49% for 72 Months New 2020-21 Finance Program
Porsche Financial Services (PFS) is pleased to launch the 2.49% APR for 72 Months Finance Program, available on New 2020-21 Porsche models through June 30, 2021. This program is compatible with the 90 Days to First Payment Finance Program.
View Disclaimer2.49% APR retail financing for 72 months available from Porsche Charleston through Porsche Financial Services, Inc. to extremely well qualified customers who meet Porsche Financial Services credit requirements. Not all applications will qualify. 72 monthly payments of $14.97 for every $1,000 financed, regardless of amount of down payment. Actual monthly payment determined by Porsche Charleston. Offer available on MY21 and MY20 New Porsche vehicles. Offer compatible with terms of 72 months on retail installment contracts only. Must take delivery by June 30, 2021. First payment may be scheduled for up to 90 days from the date of contract. Finance charge will accrue from the contract date and the total amount of finance charges you pay over the life of the contract will be higher than if the first payment was scheduled for 30 days from the contract date. Specific vehicles and options are subject to availability and your price may vary. 90 days to first payment not available for customers contracting or garaging vehicles in Main and Pennsylvania. For additional information see Porsche Charleston or visit Porsche.com/usa.
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(843) 628-2534
Call Now1515 Savannah Highway • Charleston, SC 29407
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Open Today! Sales: 9am-7pm
Open Today! Service: 7:30am-6pm
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