Most cars depreciate by thousands of dollars as soon as they are purchased.
There could be a big difference between what your insurance will pay and what you owe on your loan if your vehicle is stolen or accidentally damaged beyond repair (total loss).
This difference, or the "gap" between your insurer's settlement and your loan balance is your responsibility and comes out of your pocket.
GAP PLUS is a low-cost coverage that pays the potentially high-cost difference between the insurance settlement and your loan balance.
GAP PLUS coverage also includes up to $1,000.00 toward a down payment for a replacement vehicle when financed through our credit union.
You can purchase GAPPLUS coverage when you apply for your vehicle loan and have the cost included in with your monthly loan payment.
Contact your credit union for information and benefits of GAP PLUS coverage!
|