Help When You Need it Most

• High loan-to-value ratio (LTV): This means you borrowed a lot of money to buy your car, and you still owe a lot compared to what your car is currently worth.
  
• Long-term car loan: If you decide to pay off your car over a long time (like more than 4 years), you could end up owing more money than what your car is worth at some point. This is because cars lose value over time.
  
• Small down payment: If you only paid a little bit of money upfront (a small down payment), then you probably had to borrow more through your auto loan. Again, this could mean that at some point, you owe more than what your car is worth.
• Regularly driving your car for long distances: If you often drive far distances, your car's value may depreciate faster due to the high mileage. This could lead to a situation where you owe more on your loan than what the car is worth.
• Selecting a vehicle with high mileage:  If you bought a car that already had high mileage, its value will likely decrease faster than your loan balance. This increases the chance of owing more on your loan than the car's value.

Yes, there is a cost associated with GAP insurance. At Skyla, this cost can be conveniently financed into your loan or paid out of pocket for only $550.

• Autos
• Light Trucks
• Motorcycles
• ATVs 
• Power Sport Vehicles
• Small watercraft 
• Larger Boats/RVs/Travel Trailers 
• Commercial Vehicles 

If you have GAP on a vehicle and file a claim for loss or theft, you'll have 90-days to apply for a new auto loan at Skyla. 

Then, once your application is approved, we'll credit $1,000 towards your new auto loan!