Insurance Settlements Don't Always Cover Your Loss
How do you know if your vehicle is adequately protected by your primary insurance carrier? Will you owe more on your vehicle loan than your vehicle is worth? A wrecked vehicle can wreck your finances if you owe more on your loan than your insurance will pay.
Guaranteed Asset Protection (GAP) is like an airbag for your vehicle loan. GAP Plus can help fill the gap between what your vehicle insurance will pay and what you owe on your loan, to cushion you against sudden out of pocket expenses if your vehicle is deemed a total loss. GAP Plus may cancel part of your next loan with your credit union, when you purchase a replacement vehicle and can help lighten the financial burden for you and the people you care about.
Purchasing protection is voluntary and won’t affect your loan approval. It’s simple to apply. Ask your loan officer about eligibility, conditions, or exclusions* or contact us at 610.821.2403.