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GAP – Powersport GAP

For the adventure lover – or the serious outdoorsman – Premier has designed specific GAP programs for customers who are purchasing powersport vehicles and trailers, with the purchases all appearing on the same finance agreement and GAP contract.

This GAP program offers the customer protection if they sustain a total loss of the financed powersport vehicle or watercraft. Powersport GAP covers the customer’s liability for the difference between the outstanding balance on the vehicle finance or lease agreement, and the settlement amount paid by the customer’s primary insurance carrier.

Primary Benefits

  • Excellent income opportunity for your dealership
  • Increased customer satisfaction and loyalty with more repeat business, resulting in higher automobile sales
  • Allows dealership exploration of different financing options

Customer Benefits

  • Protection from risk related to initial vehicle depreciation
  • Protection against out-of-pocket expenses due to a total loss
  • Reimbursement for insurance deductible (in most states)
  • Ability to cancel the agreement at any time prior to experiencing a total loss

Underwriting Guidelines

Covered collateral: motorcycles, motor scooters, ATVs, personal watercrafts, trikes, snowmobiles or other powersport vehicles with a GVW up to 1,500 pounds.

  • The maximum amount financed is $50,000 or 150% of the MSRP or NADA retail value
  • The term of the finance contract cannot exceed 84 months (some Premier Powersport forms also permit revolving credit financing)
  • The maximum amount payable under the GAP agreement is $100,000
  • The vehicle cannot be older than 10 model years
  • Excludes commercial use

NOTE: Please see a copy of the Customer Certificate and Dealer Agreement for a complete list of underwriting guidelines, terms, conditions, exclusions and limits of liability. Restrictions may apply. Product availability may vary by state or country. For state availability please check with PDS Sales Support.

Powersport GAP is available in most debt waiver states and many insurance states. We offer the Powersport programs with the Premier Ultra benefit level only.