Disclaimer – Product Support and Policy Information
This information is provided by Dream Automotive for general educational purposes to help customers understand optional products and services that may have been purchased at the time of vehicle delivery. These products include, but are not limited to, Guaranteed Asset Protection (GAP) Insurance and Vehicle Service Contracts.
GAP Insurance is an optional coverage designed to protect you from financial loss if your vehicle is declared a total loss due to accident or theft. It covers the difference between the remaining balance on your auto loan and the vehicle’s actual cash value as determined by your standard insurance provider. Without GAP coverage, you may be personally responsible for paying this difference.
Vehicle Service Contracts are optional agreements that provide coverage for mechanical breakdowns beyond the manufacturer’s warranty period. These contracts can assist with the cost of repairs and replacements necessary to keep your vehicle in working condition. Canceling a service contract means you assume full financial responsibility for future repairs or mechanical failures not covered under a manufacturer’s warranty.
If you choose to cancel any optional product:
- You will become solely responsible for your own financial protection and vehicle maintenance.
- Cancellations generally require a notarized odometer statement verifying your vehicle’s mileage at the time of cancellation.
- Misrepresentation of mileage or other information is considered fraudulent.
- Refunds for canceled products are typically prorated based on time and mileage used and may be subject to a cancellation fee.
- Refunds are usually issued directly to your lienholder and applied toward your principal balance; this will not reduce your monthly payment.
- Processing may take up to six weeks.
Please note that auto insurance does not cover mechanical failures—only damage caused by covered incidents such as accidents, theft, vandalism, or natural disasters.
By purchasing or canceling any protection plan, you acknowledge that you have reviewed and understand the terms and financial responsibilities associated with these products.
For any additional questions or clarification regarding your coverage or cancellation, please contact your Dream Automotive representative or plan provider directly.
