ASSET PROTECTION (GAP)

GAP (Guaranteed Asset Protection) Plus Insurance.

GAP Plus is an optional coverage that protects you financially if your vehicle is totaled or stolen and you owe more on your auto loan than the car’s current value. In many cases, a vehicle’s value depreciates faster than the loan balance, especially in the first few years. If your insurance company pays only the market value of the car, you could be left covering the remaining loan balance out of pocket — that’s where GAP insurance comes in. It covers the “gap” between what your car is worth and what you still owe, helping you avoid unexpected debt. GAP insurance provides peace of mind, especially for those with low down payments, long-term loans, or high-mileage driving habits.

GAP Plus could help reduce your next loan at the credit union by making it easier to get the replacement vehicle you will need.

Ask a loan office about adding GAP Plus to your next auto loan.

GAP is not insurance; it is an optional debt cancelation 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 contract will increase the cos of GAP. You may cancel GAP at any time If you cancel GAP within 90 days you will receive a full refund of any fee paid. GAP purchased from 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 free. 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. TruStageTM is the marketing name for TruStage Financial Group, INC. its subsidiaries and affiliates.