The CFPB said U.S. Auto Sales had sold GAP to customers from February 2017 to October 2022 and bundled the cost into their auto loans. The finance-and-insurance product pays any loan balance not reimbursed by traditional auto insurers — which are only obligated to cover the actual value of the vehicle — after a total loss.
U.S. Auto Sales charged customers up front for the cost of GAP coverage running the entire loan term, which means consumers would merit a