GAP Plus
If your vehicle is deemed a total loss due to an accident or theft, there can be a significant financial gap between what you owe on your loan and what your auto insurance will cover. That's where Guaranteed Asset Protection (GAP) comes in.
GAP may reduce or even eliminate that shortfall in the event your vehicle is deemed a total loss. GAP Plus can help reduce your next loan at the credit union, making it easier to get the replacement vehicle you'll need. Ask your Loan Officer about GAP.
Disclosure: Your purchase of MEMBERS CHOICE Guaranteed Asset Protection (GAP) is optional and will not affect your loan application for credit or the terms of any credit agreement you have with us. Certain eligibility requirements, conditions, and exclusions may apply. You will receive the contract before youare required to pay for GAP. You should carefully read the contract for a full explanation of the terms.If you choose GAP, adding the GAP fee to your loan amount will increase the cost of GAP. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid. GAP purchase from state chartered credit unions in CO, MO, or SC may be canceled at any time during the loan and receive a refund of the unearned fee.