GAP Insurance and MBP
The credit union offers low cost Guaranteed Auto Protection (GAP). This coverage bridges the gap between what is owed on a vehicle and what the insurance company will pay in the case of a total loss.
Additionally, GAP prevents the deficiency loan balance from being added to a new loan in the event of a total loss, and serves to protect your credit rating. GAP can be purchased at a low, one-time cost.
GAP can be included in the amount financed with the loan. Coverage takes effect immediately upon loan dispersal
The maximum that GAP will pay is $50,000, which is well over the maximum loss you would ever experience.
The maximum loan term GAP will cover is 84 months (7 years). After 7 years, most vehicles no longer have a "gap" concern.
Eligibility: New or used auto and motorcycle loans.
Cost: $225. Cost can be financed into the loan.
A vehicle is a major investment. That is why purchasing Mechanical Breakdown Protection (MBP) is a wise choice. MBP, sometimes called a warranty program, can help ensure that the investment of a vehicle is protected, and reduces the possibility of out-of-pocket expenses when a vehicle suffers an unexpected mechanical failure.
Benefits packages are designed to ensure you the maximum amount of convenience and comfort in the event of a mechanical breakdown. Features include Nationwide Protection, 24-Hour Roadside Assistance, Rental Vehicle Assistance and Tire Road Hazard Protection.
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Platinum |
Top-Of-The-Line, Named Exclusion Protection |
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Gold |
Very Extensive Named Component Protection |
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Silver |
Good Named Component Protection |
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Bronze |
Basic Named Component, Powertrain Only Protection |
How can we help you achieve your dreams today?
We want to be your partner in achieving financial dreams, so please contact us by phone at 817.273.5900, through email or stop by one of our branch locations for additional information about Security One.
