What is Guaranteed Asset Protection?
Guaranteed Asset Protection or "GAP" is supplemental coverage for your vehicle. If your insurance company deems your vehicle totaled due to an accident or even theft, GAP can step in and help pay for the remaining balance left after your insurance settlement*. GAP has a one-time, affordable fee that can be added to the balance of your loan at any time. GAP has saved our members thousands of dollars and is a must-have when the balance of your vehicle loan is higher than its value.
How does GAP work?
The actual cash value or ACV of your vehicle as determined by your primary insurance carrier could be less than the actual balance you owe on your loan. In the event of a total loss or theft, GAP may waive the difference between your outstanding loan balance and the actual cash value (ACV) of the vehicle.
Interested and would like to learn more? Give our loan department a call at (800) 747-1407 or send an email to [email protected] and we'll help you better protect one of your most important assets.
*Subject to LTV maximums, exclusions and/or limitations that may apply. It is a voluntary, non-insurance product.