Gap Protection

Fill in the gap with Guaranteed Asset Protection

Guaranteed Asset Protection could save you thousands of dollars.

Most cars depreciate by thousands of dollars as soon as they are purchased. If the car is stolen, accidentally damaged beyond repair, or otherwise declared a total loss, you are still liable to pay the difference between what you owe on the loan and the insurance settlement. GAP helps protect that difference.


 

Did you know:

The cost of GAP can be financed or refinanced with your vehicle loan. GAP is designed to cancel the difference between the actual cash value of your vehicle estimated by your insurance company and the unpaid loan balance, according to the terms and maximums of your GAP Waiver Agreement.

GAP may cancel the potentially high-cost difference between your insurance settlement and your loan balance on items directly related to the purchase of your vehicle.

GAP can save you from making loan payments on a car, truck, or other vehicle that’s beyond repair or stolen and not recovered.

Your purchase of MEMBER’S CHOICE™ Guaranteed Asset Protection (GAP) is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of GAP. If you choose GAP, adding the product fee to your loan amount will increase the cost of GAP. You may cancel the protection at any time. If you cancel protection within 90 days you will receive a full refund of any fee paid. You will receive additional information before you are required to pay the fee for this product. GAP-990629.4-0415-0517