Guaranteed Asset Protection

Coverage Worth the Investment!

Guaranteed Asset Protection (GAP) protects you against financial loss in the event your vehicle is damaged beyond repair (totaled) or stolen and never recovered.

Since a vehicle’s value declines as a result of depreciation, the loan balance can be higher than its Actual Cash Value (ACV). Without GAP coverage, you would be responsible for paying the difference between the insurance settlement and the outstanding loan balance. With the purchase of GAP, the deficiency balance may be waived.

Eligible Collateral & Rates

Private passenger autos, vans, and light trucks (one ton load capacity and under) that are not used for commercial use.

GAP is not NCUA insured.

Benefits

• Protects your credit rating
• Eliminates or reduces “out-of-pocket” expenses for the remaining loan balance after loss settlement
• You are able to purchase a replacement vehicle sooner because there is little or no carryover balance
• Pays benefits up to $50,000
• You may purchase up to one year from effective date of loan
• After 30 days, GAP is eligible for a pro-rated refund
• Available at reduced amount compared to the dealer’s GAP
• Waiver may be fully refunded within 30 days of its inception if no GAP benefits have been paid