GAP Insurance

GUARANTEED ASSET PROTECTION (GAP)

GAP provides protection to you if your vehicle is totaled or stolen and never recovered,
and there is a difference in your remaining loan balance and what the insurance company
will pay; GAP will cover the loss.*

*Some exceptions apply. See the full GAP policy below.

MEMBER BENEFITS

  • GAP Advantage: Additional $1,000 toward the purchase price of
    a replacement vehicle if financed through GMFCU
  • Includes ADR at no additional cost (see details below)
  • Our GAP is generally priced below similar protection sold by
    automobile dealerships
  • You may conveniently add GAP to your GMFCU loan

GAP BENEFITS

GAP Cost: $399

  • New or used vehicles: Maximum eligible loan amount $100,000
    Maximum loan term 84 months. Maximum GAP loss $50,000
  • New or used motorcycles: Maximum eligible loan amount $30,000
    Maximum loan term 60 months. Maximum GAP loss $30,000
  • HOW GAP WORKS

GAP will waive the difference between what the insurance company paid
(ACV-actual cash value) and the loan amount, if the loan amount is higher – for example:

GAP-INS-EXAMPLE
Be sure to add GAP coverage when you apply for your GMFCU vehicle loan online or call and talk to Loan Services: 336.373.2090 option 4