Guaranteed Assest Protection (GAP) Plus with Deductible Assistance

A wrecked vehicle can wreck your finances

Our GAP program can help cushion you and your family against sudden out-of-pocket expenses and goes beyond traditional GAP protection. Here’s how it works:

GAP Plus with Deductible Assistance1 may reduce or eliminate the gap between what your vehicle insurance will pay and what you owe on your loan, if your vehicle is deemed a total loss. GAP Plus helps you get into your next vehicle by reducing your next loan at RBFCU by $1000. Deductible Assistance is designed to provide financial relief when your vehicle is damaged, but not deemed a total loss.

Get GAP Plus with Deductible Assistance today so you can worry a little less about tomorrow.

To add this coverage, contact us at 210-945-3300.

FAQs

  • I have GAP coverage through another institution. Will it still apply if I refinance?
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    In most cases you will need to purchase new GAP when refinancing as GAP covers the loan and when you refinance you will now have a new loan. Please check with your current GAP carrier to verify this information.

1Deductible Assistance benefit is only offered on motor vehicles.

2Car Depreciation: How Much It Costs You, CARFAX, Feb. 3, 2021.

Your purchase of MEMBERS CHOICE™ Guaranteed Asset Protection (GAP), which includes deductible assistance, is optional and will not affect your loan 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 purchase 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 nonrefundable 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 purchase 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 purchase from state chartered credit unions in IN may be 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.

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