Guaranteed Asset Protection (GAP) Plus pays the difference or "gap" between a member's outstanding loan balance and the auto insurer's settlement when a vehicle is damaged beyond repair or stolen.
GAP Plus has some great features that distinguish our policy from those available at auto dealers:
- Covers a "gap" up to $50,000 between the auto insurer's settlement and the outstanding loan balance.
- Covers insurance deductibles up to $1,000.
- Provides a $1,000 down payment credit toward your next vehicle loan taken out with Atlantic Federal Credit Union. A new financial agreement must be completed within 60 days of settlement on your old vehicle.
- Available for New and Used Vehicles.
- Coverage can be purchased up to 60 days after the loan is opened.
- Full refund if cancelled within the first 90 days. No cancellation fee.
- Protection fees can be included with the monthly vehicle loan payment.
- Click here for FAQs about GAP Plus.