GAP Plus

GAP Plus with Deductable Assistance

Don’t let a wrecked vehicle wreck your finances.

Guaranteed Asset Protection (GAP) is a great way to protect your finances if the value of your vehicle is less than the amount of your car loan. A good rule of thumb is to assume your new vehicle will depreciate more than 20% after the first year you own it, half of which occurs the minute you drive it off the lot.* This leaves a gap between what you owe on your loan and the value of your vehicle if it’s deemed a total loss due to an accident or theft. Our GAP program may reduce or eliminate the gap between what your vehicle insurance will pay and what you owe on your loan. Plus, it helps you get into your next vehicle by reducing your loan at the credit union by $1,000.

Our GAP Plus program includes Deductible Assistance which is designed to provide financial relief when your vehicle is damaged but not deemed a total loss. If repairs cost more than your deductible, the deductible amount is applied to your vehicle loan at the credit union, reducing what you owe.

Contact us today to learn more about adding GAP Plus with Deductible Assistance to your vehicle loan so you can worry less about tomorrow.

Eligible Collateral:

• Automobiles
• Vans
• Light Trucks up to a 1-ton towing capacity
• Motorcycles
• Snowmobiles
• Jet Ski´s
• ATV´s

*Car Depreciation: How Much Value Will a New Car Lose? CARFAX, Nov 9, 2018. Your purchase of MEMBER’S CHOICE™ Guaranteed Asset Protection (GAP), which includes deductible assistance, is optional and will not affect your 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 you are 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 purchased from state chartered credit unions in FL, GA, IA, RI, UT, VT, and WI, may be with or without a refund provision. Prices of the refundable and non-refundable products are likely to differ. If you choose a refundable product, you may cancel at any time during the loan and receive a refund of the unearned fee. GAP purchased 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. GAP purchased from state chartered credit unions in IN may be with or without a refund provision. If the credit union offers a refund provision, you may cancel at any time during the loan and receive a refund of the unearned fee.

GAP-2488407.1-0419-0521 © CUNA Mutual Group, 2019. All Rights Reserved.

Debt Protection

Does your family have a safety net if the unexpected hits?

Help protect your family against the unexpected.

Life can be wonderful. But it can also get complicated when unexpected things happen. Protecting your loan balance or loan payments against death, disability or involuntary unemployment could help protect your finances.

Life Plus adds protection for financially-stressful life events such as accidental dismemberment, terminal illness, hospitalization, family medical leave, and the loss of life of a non-protected dependent.

This protection could cancel your loan balance or loan payments up to the contract maximums. Protect your loan payments today so you can worry less about tomorrow.

It’s simple to apply for Debt Protection. It’s voluntary and won’t affect your loan approval.

Call FinancialEdge Credit Union at 989.892.6088 and ask about protecting your loan payments today.

Your purchase of Debt Protection with Life Plus is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of Debt Protection. You may cancel the protection at any time. If you cancel protection within 30 days you will receive a full refund of any fee paid.

DP-2098935.1-0418-0520 © CUNA Mutual Group 2018, All Rights Reserved