Gap Coverage

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In the event of a total loss of your vehicle, you may well owe more than what your insurance company will pay. The difference in this amount is what is referred to as the “Gap” – However, Ideal Auto Sales provides Gap Coverage to protect you!


Gap Coverage waives the difference between what you own your vehicle and what your insurance company will pay for your vehicle. In the unfortunate event your vehicle is declared a total loss due to an unrecoverable theft or accidental damage, your auto insurance company will typically pay the current market value of your vehicle less your deductible. But what if your loan or lease balance is higher than the market value of your vehicle?

Answer: You would be responsible for paying off the difference, including your deductible. This can be expensive. The reason for the potential difference is that normally the loan/lease balance decreases at a predictable amount as monthly payments are made. However, the market value of your vehicle is influenced by several variable factors (e.g. supply, demand, mileage). This means that market value often may be lower than your outstanding balance – particularly early in your contract when you have the most to lose.


Is the amount you receive from your insurance company enough to pay-off your loan or lease balance if your vehicle is declared a total loss? For Example…

Insurance Settlement:
– Market Value of Vehicle: $13,000
– Less Insurance Deductible: –$1,000
– Total Insurance Proceeds: $12,000

Amount owed on vehicle: $18,500

Difference in Amounts: ($6,500)

In this example, the answer is No! The difference illustrates what you would still owe your lender without GAP Coverage from Ideal Auto Sales. You would be responsible for still paying over six thousand dollars. Protect yourself by contacting us today for GAP coverage!

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COVID-19 We at Ideal Auto Sales Inc of Decatur care deeply about the health and well-being of ALL of our employees, customers, and vendors. With that in mind, we want to assure all of our employees, customers, and vendors that we will be doing everything within our powers to maintain a safe and healthy work environment for everyone. We will be strictly following the CDC's Interim Guidance for Business and Employers to Plan and Respond to Coronavirus Disease (COVID-19). During this time, we will continue to make adjustments as new adjustments and information is made available by the Health Experts. We are taking the following measures to conform to CDC social distancing and safety guidelines. These measures may be adjusted as new information emerges. During your visit: To limit physical contact, we will avoid shaking your hands. You will meet one-on-one with our associates whenever possible during your visit while maintaining a safe 6' distance. Location cleaning and sanitization: All hard surfaces will be routinely cleaned and sanitized. Disinfectant wipes and hand sanitizer will be made available whenever possible. Our dealerships cleaned and disinfected on a regular basis, associates are following CDC handwashing recommendations, and we are regularly cleaning common areas. Dealerships are taking extra measures to ensure that all keyboards, monitors, and phones are cleaned throughout the day. Vehicle cleaning and sanitization: We have taken measures to ensure that our vehicles are cleaned prior to placing them on the lot, post test-drive, and before delivery of the sale. Our technicians are taking extra measures both before, after, and during the service of all vehicles. These are uncharted times that unfortunately have become the world we live in. Together, we will get thru this crisis. Loan Payments We remain committed to our customers and making it easy for you to continue to make payments either via phone or online. We understand our customers may be impacted during this time. Please connect directly with your local dealership and stay in close contact with us regarding any loan payment challenges you may encounter. Please stay in contact with us so we can all get through these tough times together. Sincerely, Ideal Auto Sales Inc.