Payment Protection

GAP Plus

GAP (Guaranteed Asset Protection) Plus protects your vehicle investment, not just its value. Most cars depreciate by thousands of dollars as soon as they are purchased. Unfortunately, if your vehicle is stolen, accidentally damaged beyond repair, or otherwise declared as a total loss, you are still liable to pay the difference, or the “gap,” between your insurer’s settlement and your loan balance. That gap will come out of your pocket for a vehicle that, for all practical purposes, no longer exists.

GAP Plus is a low-cost coverage that pays the potentially high-cost difference between your insurance settlement and your loan balance on items directly related to the purchase of your vehicle.

For just a few dollars a month, GAP can save you from making loan payments on a car, truck or other vehicle that’s beyond repair, or stolen and not recovered. GAP Plus coverage also includes up to $1,000 toward your down payment of a replacement vehicle. You can sign up for GAP when you apply for your vehicle loan. There’s no underwriting, no red tape, no hassles. And for you convenience, the amount can be rolled into your monthly loan payment. GAP is fully refundable if you cancel the coverage with in the first 90 days.

For a complete list of benefits and rules, ask a member services representative or loan officer. You can purchase GAP at the time of the loan origination for only $300.00, regardless of the vehicle. The purchase of GAP is voluntary and is not required as a condition of loan approval.

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