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Wells Fargo Auto increases GAP financing allowance

Increasing prices of GAP products drove the increase in allowance

Joey Pizzolato

Wells Fargo Auto has increased its allowance on guaranteed asset protection (GAP) products with its dealer partners nationwide as costs for the insurance product continue to increase. The San Francisco-based bank increased its allowance on GAP — the amount the lender is willing to finance — to $1,200 per contract, an increase from $995, a […]

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