If your vehicle is ever stolen, damaged beyond repair or otherwise declared an insured total loss, your auto insurance may cover the replacement value, but you’ll still be responsible for the difference. That’s why we offer Guaranteed Asset Protection (GAP), protection to cover the difference between your insurance settlement and loan balance. Without GAP, you could face paying thousands of dollars on a lost or totaled vehicle — out of pocket.
GAP is offered at $300* and can either be added onto your approved loan or paid in full at anytime during the life of the loan. Available for cars, light trucks, motorcycles, jet skis, snowmobiles and ATVs.
For just a few dollars a month, you can protect yourself against this kind of unexpected expense. The benefits may include:
- Protection for the term of your loan up to 84 months
- Coverage for vehicles valued up to $100,000 at time of purchase
- Payment of benefits up to $50,000
- Coverage deductibles up to $1,000
Benefits for new or used vehicles, including cars, light trucks, motorcycles and some other motorized vehicles.
Call the Members Contact Center at 800-999-5887 for more information.
*Subject to change.
Insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the credit union.