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Simplify your loan product offerings and watch your penetration skyrocket.
Click here for details.
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The most comprehensive loan products portal providing members with information
24/7. Click here
for details.
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>> GAP
Most people believe that if their vehicle is totaled or stolen, their
auto insurance will pay off their loan or lease balance. Well,
think again!
If your vehicle is totaled or stolen, your auto insurance will
usually pay only the actual cash value of your vehicle, less your
deductible. This amount could be substantially lower than your
loan/lease balance, leaving you liable for a large financial debt which
could mean thousands of dollars out of your pocket!
GAP (Guaranteed Auto Protection) will cover the difference between
your loan/lease payoff and your auto insurance company settlement.
Further, it may even cover your insurance deductible up to $1,000*.
Click
here to see if you need GAP
How GAP works
|
Loan Balance after One Year |
$25,000.00 |
|
Vehicle's Actual Cash Value (ACV)
|
$20,000.00 |
|
Member's Deductible |
$500.00 |
|
Insurance Settlement
|
$19,500.00 |
|
The GAP |
$5,500.00 |
|
GAP Coverage Pays
|
$5,500.00 |
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* Deductible coverage is not available by law in all states, for
example, Illinois, Oregon and New York.
| Features & Benefits
|
Having a vehicle totaled is bad enough. Finding out you also
owe your financial institution several thousand dollars…even
worse! GAP provides you with the peace-of-mind you need at a
very affordable price, which can easily be financed right into
your new vehicle loan.
60 Day Free Look
GAP coverage may be canceled within the first 60 days for a full
refund.
Covers Your Primary Insurance Deductible
Insurance deductibles can be substantial, and can add to the
loan deficiency, and your financial debt. GAP covers the primary
insurance deductible up to $1,000*.
Deductible coverage is not available in all states. Consult your
financial institution representative.
Covers Most Vehicles
GAP may be purchased on the following vehicles.
Cars & Light Trucks
Motorcycles
Waverunners/Jet Skis
Snowmobiles
Golf Carts
There are no age restrictions
on the vehicle.
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