Depreciation Coverage

If your institution is interested in taking your auto loan program to the next level, consider partnering with Shortfall Cover to help you stand out from the crowd.

The difference between GAP and PowerBuy


GAP Coverage

GAP Coverage may pay off an outstanding loan balance, but the consumer usually has additional out-of-pocket costs for payments made, as well as any down payment on a replacement vehicle.


Provides the borrower with a benefit applied to the loan on the replacement vehicle following a total loss, but because the benefit is only available with the lender that the original covered vehicle was financed through, it creates loyalty between lender and borrower.

GAP with PowerBuy is Designed to:

GAP with PowerBuy provides a holistic approach to vehicle protection that keeps your borrower covered through all stages of the loan. With coverage addressing both outstanding loan balance and depreciation loss, GAP with PowerBuy provides the benefits your borrower needs to replace their vehicle quickly.

Increase Non-Interest Income

By offering GAP with PowerBuy, financial institutions add a valuable product to their point of sale offer to borrowers.

Holistic Coverage

GAP with PowerBuy provides a unique combination of protection for both lender and borrower. With traditional GAP coverage covering the outstanding loan balance, the PowerBuy benefit can provide a benefit toward replacing their vehicle after total loss.

Enhance Auto Lending and Recapture Strategies

Offer a product that differentiates your financial institution at the time of loan closing, as well as provides an incentive to your borrower to return to you for their replacement vehicle financing. Provide an exceptional product and service to your member that others in your market don’t.

Features & Benefits

Increases non-interest income and improves member retention rates.

Decreases your portfolio’s exposure to loss in high LTV loans and longer terms.

Provides additional borrower value by providing coverage even when they reach a positive equity position.

“The PowerBuy benefit helps us protect more members – including the borrowers who put money down when they purchase their vehicle.”

– John Phipps, Chief Lending Officer for Heritage Federal Credit Union

What can PowerBuy do for your borrowers?


  • Provides protection from loss of vehicle due to depreciation
  • Covers against outstanding loan balance if primary insurance is inadequate
  • Benefits are available throughout the life of the loan
  • Coverages are available on many collateral types, including auto, motorcycles, travel trailers, watercrafts, and motor homes

Who We Are

PowerBuy is backed by SWBC, Security Service Federal Credit Union, and Shortfall Cover, LLC.

Get In Touch

(866) 258-5150

Send A Message