Guaranteed Asset Protection (GAP) Plus

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 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 $1,000.

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

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

Fair market insurance value isn’t always fair. There may be a GAP.

The second you drive your new vehicle off the lot, it drops in value. Up to 20% in one year.² This creates a gap in coverage. A wrecked vehicle can wreck your finances if you owe more on your loan than your insurance will pay.

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.

¹Car Depreciation: How Much It Costs You, CARFAX, Feb. 3, 2021.

Your purchase of MEMBERS CHOICE™ Guaranteed Asset Protection (GAP) 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, 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.

With high-value products and services, Randolph-Brooks Federal Credit Union (RBFCU) is a trusted financial partner for more than 1 million members in Texas and around the world. RBFCU offers all the banking services you expect from a leading credit union, and we've made it our mission to help improve our members' economic well-being and quality of life. Our commitment to personalized service makes RBFCU membership the smarter banking choice.

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