Where GAP Plus Comes In
If your vehicle is deemed a total loss due to an accident or theft, there can be a significant gap between what you owe on your loan, and what your primary auto insurance will cover. GAP Plus may reduce, or even eliminate that shortfall in the event your vehicle is deemed a total loss.
Deductible Assistance
GAP with Deductible Assistance is designed to provide financial relief when your vehicle is damaged but not deemed a total loss. If auto repairs cost more than your deductible, the deductible amount is applied to your loan, reducing what you owe.
There May Be a Gap
Fair market insurance value isn’t always fair. There may be a gap. Protect your vehicle loan — purchase GAP Plus today!
Ask a Member Specialist about GAP Plus.
GAP is not insurance; it is an optional debt cancellation product. GAP will not affect your application for credit or the terms of any credit agreement you have with us. Certain eligibility requirements, conditions and exclusions may apply. You will receive the contract before you are required to pay for GAP. You should carefully read the contract for a full explanation of the terms. If you choose GAP, adding the GAP Fee to the amount financed under your loan will increase the cost of GAP because there will be additional interest due based on the inclusion of the GAP Fee in the loan principal amount. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid, if no benefits have been provided. GAP purchased from state-chartered credit unions in FL, GA, IA, IN, UT, VT, and WI may be with or without a refund provision. Prices of the refundable and non-refundable products are likely to differ. If you purchase a refundable product, you may cancel at any time during the loan and receive a refund of the unearned fee, if no benefits have been provided. GAP purchased from state-chartered credit unions in CO, MO or SC may be canceled at any time during the loan and receive a refund of the unearned fee, if no benefits have been provided.
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