Owning a car is a big responsibility, and you want to make sure you protect your investment with regular oil changes, tire rotations, etc. But what happens if your car gets totaled in an accident or even gets stolen and never recovered? Let us help ease your worry. We offer GAP, which is an insurance plan to help in that very situation.
GAP Advantage waives the debt that the insurance company does not cover in the case of the vehicle being totaled or being stolen and unrecovered.
GAP Advantage covers up to 135% of MSRP on new vehicles and the NADA/KBB retail value for used vehicles, and may cover a deficiency balance up to $50,000
GAP Advantage coverage is effective the date the waiver is purchased, which normally coincides with the date the loan is funded.
A GAP Advantage claim will “cover” the insurance deductible up to $1,000
A borrower may add GAP Advantage up to one year from the effective date of the loan.
GAP Advantage costs $375. This can be paid as a one-time payment or added to the loan payment for the term of the loan.
| How It Helps You |
How It Works |
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Eliminates or reduces out of pocket expenses for the remaining loan balance after loss settlement |
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Provides up to $2,500 on your replacement car purchase when financed through us |
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Allows a loan term to be extended by 6 months (cannot exceed 84 months) without increasing the interest rate |
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Allows you to purchase a replacement vehicle sooner because there is little or no carry-over balance |
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The balance of your loan is covered in the case of an accidental total loss or theft |
Check out these other great products and services from ACU!
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