Protect Your Vehicle With GAP
What Is GAP?
Guaranteed Asset Protection also referred to as GAP, is an affordable loan protection product offered by Launch FCU through our partnership with CUNA Mutual Group. GAP helps to provide you with financial security in the event that your vehicle is stolen or declared a total loss. At Launch FCU, GAP can be added at any time during the duration of the loan.
How Can GAP Benefit Me?
You may think that your auto insurance will provide you with protection in the case of a stolen or totaled vehicle, however you may be surprised. If your vehicle is totaled or stolen, your insurance provider will only cover the replacement value of your vehicle, and you will be responsible for paying the difference between the insurance payment and the remaining balance on your vehicle loan. GAP helps to cover the difference between the actual cash value of your vehicle, and the scheduled balance that is still owed on your loan.
GAP can be added at any time during the duration of your loan, and can be included in your loan amount, attached as an add-on to the loan, or paid in cash. GAP can provide you with many benefits including:
~ Payable should your vehicle be declared a total loss
~ Covers your primary insurance deductible up to $1,000
~ Up to 84 months of protection
~Available for cars, trucks, RVs, motorcycles, and boats.
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