Bridge the Gap with GAP Plus
Aug 30, 2023
Purchasing a vehicle is an exciting milestone, but it also comes with the responsibility of safeguarding your investment. While auto insurance is essential, it may not cover all scenarios, leaving you with potential financial gaps in the event of an accident or theft. That's where Guaranteed Asset Protection (GAP) Plus from Rally Credit Union can be a game-changer, providing an extra layer of protection and peace of mind for your vehicle loan.
Understanding the GAP: Protecting What Auto Insurance May Not
Accidents happen, and the unexpected can occur, no matter how cautious you are on the road. If your vehicle is deemed a total loss due to an accident or stolen, there can be a significant gap between the remaining loan balance and the settlement amount covered by your auto insurance. This disparity could leave you facing unforeseen expenses and financial stress.
GAP Plus is designed to bridge that gap, potentially reducing or even eliminating the shortfall between your loan balance and your insurance settlement. By choosing GAP Plus, you are ensuring that you won't be burdened with the financial repercussions of a total loss event. Instead, you can focus on moving forward and finding a replacement vehicle without the added worry of unpaid loan balances.
The Power of GAP Plus: Protecting Your Future
One of the significant benefits of GAP Plus is its potential to reduce your next loan at the credit union. By covering the outstanding loan balance, it makes it easier for you to secure a new vehicle, should you need one after an unfortunate accident. This added protection means you can confidently drive knowing that your investment and financial stability are safeguarded.
Understanding Your Options and Flexibility
At Rally Credit Union, we believe in offering choices that best suit our members' needs. Purchasing GAP Plus is optional, and it will not affect your loan application or any existing credit agreements. We encourage you to review the eligibility requirements, conditions, and exclusions associated with GAP Plus, ensuring you have a clear understanding of the coverage and benefits it provides.
You will receive the full contract before you are required to pay for GAP Plus, allowing you to make an informed decision. Additionally, you have the flexibility to cancel GAP Plus at any time. If you choose to cancel within the first 90 days, you'll receive a full refund of any fees paid.
Taking Control of Your Financial Security
Protecting your vehicle loan with GAP Plus from Rally Credit Union empowers you to take control of your financial security. In situations where fair market insurance value falls short, GAP Plus steps in as a valuable safety net, preventing potential financial hardship.
As you embark on your journey with your new vehicle, let us help you build a strong foundation of protection. Consider purchasing GAP Plus to ensure your vehicle loan is safeguarded, and drive with confidence knowing that Rally Credit Union has your back, every step of the way.
Remember, your financial well-being is our priority. Don't hesitate to reach out to our friendly team to learn more about GAP Plus and how it can enhance your vehicle loan protection and peace of mind.
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.