GAP INSURNCE

GAP (Guaranteed Asset Protection) is a low cost way to help protect your vehicle loan.  Many times primary auto insurance settlements don’t pay off your loan balance.  When you buy a new or used vehicle, there is no way to know if it will be stolen or totaled in an accident.  New and used vehicles often depreciate rapidly and vehicle loans are typically getting longer in terms.  There may be a point where you owe more than it’s worth.  With MEMBERS’S CHOICE Guaranteed Asset Protection Plus, you’re protecting your vehicle investment against a possible financial loss.  If there’s a difference between what you owe on your loan and the value of your vehicle, GAP Plus will help pay the difference based on the terms of your member agreement.  The fee can be included with your monthly payments or made separately.  GAP will also help with the down payment on your replacement vehicle.  Call the credit union today and ask to speak with a loan officer about GAP.