First Class Guaranteed Auto Protection
If your Mercedes-Benz vehicle is stolen or declared a total loss in an accident, there can be a significant difference between the amount your insurance company will cover and the balance owed to Mercedes-Benz Financial ServicesDisclaimer. First Class Guaranteed Auto Protection helps cover this difference, and with it you may also be reimbursed for the out-of-pocket cost of your insurance deductible, up to $1,000 where allowable by state law.
Consider this scenario: You purchase a $60,000 Mercedes-Benz vehicle. Seven months later, you get into an accident that totals your car.
$55,000 (Finance contract payoff)
-$50,000 (Insured amount)
$5,000 (The gap)
+$1,000 (Insurance deductible)
$6,000 (Potential out-of-pocket expense)
-$6,000 (Covered by First Class Guaranteed Auto Protection)
$0 (Amount you owe)
In this scenario, the entire difference is covered by First Class GAP.
Scenario and graph are for informational purposes only. There may be portions of the finance contract for which you remain responsible. See your GAP agreement for details.