Guaranteed Asset Protection (GAP)

Most new vehicles depreciate faster than the balance that is owed on the loan, especially during the first two years of the vehicle's life. If the unthinkable happens and your vehicle is declared a total loss or unrecovered theft loss, you may be responsible for the difference between the cash value that your insurance company pays for the vehicle and the balance due on the loan.

GAP helps protects you from having to deal with such a financial burden. With GAP, you have protection for the difference due to the maximum amounts stated on your contract. Knowledge you have GAP helps to bring you peace of mind when it comes to your new vehicle.

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 many 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.

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