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Oregon Revised Statutes

Or. Rev. Stat. § 646A.779 (2026)

Determination of amount of waiver; waivers that are required and waivers that are not required

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      646A.779 Determination of amount of waiver; waivers that are required and waivers that are not required. (1) A guaranteed asset protection waiver must determine the amount that a creditor waives under the terms of the guaranteed asset protection waiver in accordance with the following methods:

      (a) If primary motor vehicle insurance or third party liability insurance covers the amount of a total loss of the motor vehicle, the creditor shall waive the difference between:

      (A) The primary insurer’s or the third party’s determination of the motor vehicle’s actual cash value as of the date of the total loss; and

      (B) The amount the borrower owes under the finance agreement.

      (b) If primary motor vehicle insurance or third party liability insurance does not cover a total loss of the motor vehicle, if an insurer that issued the primary motor vehicle insurance or the third party liability insurance is insolvent or if the primary motor vehicle insurance or third party liability insurance have stated values or limits that are less than the actual cash value of the insured motor vehicle, the creditor shall waive the difference between:

      (A) The value of the motor vehicle immediately before the loss or theft of the motor vehicle, as shown in a published and generally available regional or national guide to motor vehicle values or from the best available equivalent information, as specified in the guaranteed asset protection waiver; and

      (B) The amount the borrower owes under the finance agreement.

      (2)(a) A guaranteed asset protection waiver need not require a creditor to waive:

      (A) A motor vehicle insurance policy deductible;

      (B) Delinquent, missed or deferred payments;

      (C) Late fees or charges;

      (D) Unearned finance charges, interest or lease charges;

      (E) Unearned rental payments;

      (F) Taxes;

      (G) Refundable items that include, but are not limited to:

      (i) Charges associated with service contracts;

      (ii) Prepaid taxes and fees; or

      (iii) Credit insurance; or

      (H) Other similar items that the guaranteed asset protection waiver specifies.

      (b) A guaranteed asset protection waiver may specify limits on the amount a creditor must waive based on a loan to value ratio, a maximum term, a maximum waiver amount or other limits.

      (3) A guaranteed asset protection waiver may require a creditor to waive all or a portion of a motor vehicle insurance policy deductible. [2015 c.523 §4]

Notes of Decisions
Cited in 2 cases (2 in the last 5 years), 2023–2026 · leading case: Willcot, No. 3:25-cv-02111 (D. Or. June 11, 2026).
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Willcot, No. 3:25-cv-02111 (D. Or. June 11, 2026). · cites it 18× “ORS 646A.779 Defendant IAWC moves to dismiss Plaintiff’s ORS 646A.”
Warre v. Portfolio Servs. Ltd., Inc., No. 3:23-cv-00391 (D. Or. Oct. 5, 2023). · cites it 5× “776; (2) § 646A.779 does not require GAP waivers to cover deferred payments, therefore, whether Plaintiff knew those payments were covered or not is immaterial because they are not required to be covered; and (3) § 646A.”
Or. Rev. Stat. § 646A.779(1): 1 case
Willcot, No. 3:25-cv-02111 (D. Or. June 11, 2026). “ORS 646A.779 Defendant IAWC moves to dismiss Plaintiff’s ORS 646A.”
Or. Rev. Stat. § 646A.779(2)(a)(B): 1 case
Warre v. Portfolio Servs. Ltd., Inc., No. 3:23-cv-00391 (D. Or. Oct. 5, 2023). “776; (2) § 646A.779 does not require GAP waivers to cover deferred payments, therefore, whether Plaintiff knew those payments were covered or not is immaterial because they are not required to be covered; and (3) § 646A.”
Or. Rev. Stat. § 646A.779(b)(A): 1 case
Willcot, No. 3:25-cv-02111 (D. Or. June 11, 2026). “ORS 646A.779 Defendant IAWC moves to dismiss Plaintiff’s ORS 646A.”
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