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         Guaranteed Asset Protection Plus

What is GAP PLUS?

When you buy a new or used vehicle, there's no way to know if it will be stolen or totaled in an accident.  And, many times primary auto insurance settlements don't pay off your loan balance.  With the purchase of GAP PLUS, you're helping to protect your vehicle investment against a possible financial loss.

How does GAP PLUS work?

The GAP PLUS fee can be included with your monthly payments or made separately by cash, check, charge, or possibly electronic funds transfer.  If your car is stolen or totaled in an accident and there's a difference between what you owe on your auto loan and the value of your vehicle, GAP PLUS will help cancel the difference based on the terms of your member agreement.  By adding GAP PLUS while signing your loan paperwork, you're helping take responsibility for your financial future. 

You may cancel GAP PLUS at any time after your enrollment date.  If you cancel within 90 days, you'll receive a full refund.  

Why is it valuable?

Vehicles often depreciate rapidly and vehicle loan terms have typically been increasing in duration.  GAP PLUS will help cancel the difference between the primary insurance settlement and what you may still owe on your vehicle loan. In addition, if your vehicle is stolen or totaled in an accident, it will cancel $1,000 of your next loan with your credit union, when you purchase a replacement vehicle within 60 days of your primary insurance settlement.

 Gap Plus Chart2

What is deductible Assistance?

Deductible assistance is an additional component of GAP. Deductible assistance offers $500 to the principal balance of your current loan when in a car accident, but the vehicle is not totaled. There must be a paid claim that exceeds the deductible amount on your primary auto insurance policy. Auto insurance must be valid at time of accident. Maximum of up to 2 non-totaled occurrences per twelve month period. Certain other restrictions apply.

GAP PLUS WITH DEDUCTIBLE ASSISTANCE IS ONLY $499!  You can pay all at once or add it to your loan which would only be a few dollars a month.  And like we said, if your car is totaled or stolen, come back and finance your next vehicle through us and you'll instantly get $1,000 taken off your principal balance of your new loan.  Financial loss protection and $1,000 taken off your next loan for only $ can't beat that!

It's Easy to Get.

You can elect GAP PLUS protection at the same time you apply for your vehicle loan. There's no underwriting - no hassles. It's that easy. And your GAP PLUS premium can be rolled into your monthly loan payment.

Ask about GAP PLUS when you're asking about a vehicle loan!

Get started on your online loan application