Filing Loan Protection Program Claims

Guaranteed Asset Protection (GAP) covers the gap between what you owe on an auto loan and what your car is worth.

In the event your vehicle is “totaled” or stolen, your primary insurance company settlement can be significantly less than the outstanding balance on your loan or lease. This may create a deficiency balance or a "gap" resulting in a serious financial hardship for you. GAP covers the loan balance that your primary insurance carrier did not cover.

Here are the steps to follow in the event you need to file a GAP claim:

1. File a claim with your insurance company
2. Call Elements at 1-800-621-2105 and provide us with your insurance information so our Loan Servicing team can reach out to the insurance company on your behalf.
   • Behind the scenes, Elements will cancel any added products that were financed. Since the funds to purchase these products were borrowed, the funds will be applied to your loan balance. If the insurance settlement already paid the loan in full, the funds will be deposited into your savings account.
   • If the loan still has a balance, we will file a GAP claim. In most cases, we will do this on your behalf, and you will receive an email letting you know the claim has been filed. There are certain GAP carriers that may require you to file your own GAP claim. You will be notified if this is the case.
   • Depending on the dealership/third party you got your loan through, you may be required to provide additional documentation to complete your GAP claim. Once you receive notice that your GAP claim is filed, please respond to any communications you receive from Elements or your GAP carrier asking you to provide additional documents. Any delay in receiving documents will result in a delay in receiving your GAP settlement, and failure to send the documents your GAP carrier is requesting may mean they won’t be able to complete your claim.
3. The regular monthly payment will still need to be made until the loan is paid off.

Learn More about Guaranteed Asset Protection (GAP)

Mechanical Breakdown Protection (MBP), also known as an extended warranty, is automobile protection that extends beyond the manufacturer's factory warranty and covers repairs of unexpected mechanical breakdowns. For the period the contract is in effect, you are assured that the components covered in your vehicle will be repaired in the event of failure, including labor, subject to any applicable deductible.

Here are the steps to follow in the event you need to file an MBP claim:

1. Look in your loan documents to see who your warranty is through, and find the contact sheet to reach out to the warranty company.
2. If Route 66 is your warranty company, please call 1-800-808-0828 to file a claim.
3. For further questions, please get in touch with Elements at 1-800-621-2105.

Common MBP warranty partners include:

The Savings Group

• Rate Genius: 866-728-3436
• AutoPay: 844-276-3272
• Tresl, aka IFS (Innovative Funding Services): 866-504-3748

Gravity Lending: 888-602-1125

iLending Direct: 866-683-5505

Learn More about Mechanical Breakdown Protection (MBP)

Auto Essentials is a bundled Vehicle Protection Plan (VPP) package of coverages that protects you from normal driving incidents and out-of-pocket expenses that aren't typically covered by insurance policies. manufacturer's warranties or extended warranties.

Here are the steps to follow in the event you need to file a VPP claim:

• Look in your loan documents to see who your warranty is through and find the contact sheet to reach out to the warranty company.
• If Nation Safe Drivers is your warranty company, please call 1-888-684-9327 to file a claim.
• For further questions, please contact Elements at 1-800-621-2105.

Learn More about Auto Essentials

Depreciation Protection (DPW) provides protection on your vehicle equity and hedges against depreciation over the life of the loan. In the event of a total loss, DPW provides a waiver benefit equal to the difference between the vehicle value at the time of purchase, less the loan balance at the time of loss up to a minimum waiver benefit of $10,000, or the outstanding loan balance.

To file a claim, please contact us at 1-800-621-2105.

Learn More about Depreciation Protection

Debt Protection helps relieve the financial stress and worry related to making payments when your life takes an unexpected turn. Your loan payment will be canceled without penalty, added interest, or reported as delinquent to the credit bureau should a covered loss occur.

For our Life, Disability, and Involuntary Unemployment program, please contact us at 1-800-621-2105.

Learn More about Debt Protection