GAP Insurance serves as additional protection that will pay off the remainder of your loan balance, in essence, “forgiving” the rest of your loan.
If your vehicle is totaled or stolen within the term of your loan, your insurance company only pays the actual cash value of the vehicle at the time it is totaled or stolen. In some cases, this amount may be less than what you owe on your loan. GAP Insurance serves as additional protection that will pay off the remainder of your loan balance, in essence, “forgiving” the rest of your loan.
At CCCU, we offer MEMBER'S CHOICE® Guaranteed Asset Protection (GAP) Plus coverage to our members, which includes $1,000 towards your down payment on a replacement vehicle when financed by CCCU within 60 days after your primary insurance company issues a settlement check.
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Our auto loan options offer competitive rates, flexible terms, and perks to protect your purchase. Visit our Auto Loans page for today’s rates and other info, or to apply online!