Guaranteed Asset Protection (GAP)
Bridge the gap between the insured value of your vehicle and the outstanding balance of your loan. If your vehicle is totaled in an accident or permanently lost to theft, your insurance settlement may not be sufficient to pay off your auto loan. Don't let this happen to you! A low, one-time flat fee will offset the difference and provides $1,000 toward a replacement vehicle financed through California Credit Union.
Example (for illustrative purposes only):
| Outstanding loan balance | $20,000 |
| Subtract: Insurance settlement, gross | $15,000 |
| Subtract: Your insurance deductible | $1,000 |
| The "gap" you owe after settlement | $6,000 |
| GAP pays | $6,000 |
| You owe | $0 |
| GAP Advantage toward replacement vehicle | $1,000 |
Click here to learn more about Guaranteed Asset Protection (GAP) and to get an instant quote online!
