Protection That Pays the Difference

In today’s market, during the first few years that you own your car, your loan balance can be higher than the actual value of your car, as a result of depreciation. As your car’s value declines, your loan balance can be significantly higher. If your car were stolen, accidentally damaged beyond repair, or declared a total loss, you would be liable to pay the difference between your insurance settlement and your outstanding loan balance.

MEMBER’S CHOICE™ Guaranteed Asset Protection Plus (GAP Plus)* helps ease your financial burden by paying the potentially high-cost difference between your insurance settlement and your loan balance on items directly related to the purchase of your vehicle. It also includes $1,000 towards your down payment on a replacement vehicle when financed by California Coast Credit Union within 60 days after your primary insurance company issues a settlement check.

GAP Plus Features:

• Coverage for loans up to $100,000, except for RVs which have a maximum loan amount of $125,000.
• GAP Plus coverage can be added to loan balance during term of the loan without having to refinance the loan.
• One time low flat rate.
• Maximum term of 84 months.
• Available on loans and leases - covers all new/used private passenger autos, vans, or trucks (up to one ton capacity), personal utility vehicles, boats and RVs.
• 90-day free look – you may cancel your protection within 90 days of your enrollment date and receive a full refund and no cancellation fee.
• Skipped payments – protection includes skip-a-payment or delinquent-payment features for the life of the financial agreement.
• Primary vehicle insurance deductible –pays up to $1,000 of your vehicle insurance deductible.**

*See your MEMBER’S CHOICE™ GAP Plus agreement for full program details and eligibility requirements. GAP Plus is available where allowed by law when financed by your credit union.

**Where allowed by state law.