Gap Protection
Vehicles are expensive, but they depreciate rapidly during the first few years of ownership. During this time it is very possible for you to owe more on your auto loan than the vehicle is actually worth.
If you have an accident or your car is stolen and declared a total loss, your full coverage insurance settlement may not pay off your full loan balance. The shortage could be substantial - leaving you in a difficult financial situation.
But now Faith Cooperative FCU offers GAP for your auto or other collateral loan! Guaranteed Asset Protection can fill in the "insurance gap" when your vehicle is in an accident or stolen and declared a total loss, up to $50,000! Plus GAP will even cover your insurance deductible up to $1000.
GAP may be added to new or existing Faith Cooperative FCU loans, and the one-time enrollment fee may even be financed into your monthly loan payments. Contact a Credit Union Representative for details.
If you have an accident or your car is stolen and declared a total loss, your full coverage insurance settlement may not pay off your full loan balance. The shortage could be substantial - leaving you in a difficult financial situation.
But now Faith Cooperative FCU offers GAP for your auto or other collateral loan! Guaranteed Asset Protection can fill in the "insurance gap" when your vehicle is in an accident or stolen and declared a total loss, up to $50,000! Plus GAP will even cover your insurance deductible up to $1000.
GAP may be added to new or existing Faith Cooperative FCU loans, and the one-time enrollment fee may even be financed into your monthly loan payments. Contact a Credit Union Representative for details.