Guaranteed Asset Protection (GAP)
On average, new vehicles lose 45%* of their value in three years and 60% of their total value within five years!* If your vehicle is declared a total loss after an accident or theft, it’s likely your standard insurance policy will fall short covering the remaining balance on your auto loan—leaving you with a loan balance on a vehicle you can no longer drive! That’s why Eagle Community Credit Union is offering our members GAP Advantage™. GAP Advantage** can pay up to the remaining balance of your auto loan after an insurance payout and provide you with up to $1,000 of additional funds to finance your next vehicle with us. If you experience a partial loss, you may be reimbursed up to $500 per occurrence, up to twice a year, during the first two years of GAP Advantage protection. GAP can save you from making loan payments on a vehicle that you no longer have! Gap is offered at a flat rate of $599 for vehicles and motorcycles. Commercial vehicles, Watercraft and RV's are priced higher. Give yourself peace of mind with coverage that will protect your vehicle investment. Ask us for a quote today.
** Your purchase of GAP Advantage is optional. Whether or not you purchase GAP Advantage will not affect your application for credit or the terms of any existing credit agreement you have with the financial institution. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under GAP Advantage. Carefully read the contract for a full explanation of the terms.
