Don’t let a total loss become a financial loss
If your vehicle is deemed a total loss due to an accident or theft, there can be a significant gap between what you owe on your loan and what your auto insurance will cover. Guaranteed Asset Protection may help make up the difference.
Make Sure You're Protected with Guaranteed Asset Protection
Guaranteed Asset Protection (GAP) coverage is an optional coverage that helps pay off your auto loan if your car is totaled or stolen and you owe more than the car's depreciated value. For example, if you owe $25,000 on your loan and your car is only worth $20,000, your gap coverage covers the $5,000 gap, minus your deductible. And the cost is minimal.
Whether you already have your loan financed with First Atlantic or are looking to purchase a new car, we can help you. GAP can be added to a loan at any time!
Talk to First Atlantic today about how we can help protect you with Guaranteed Asset Protection.
Contact UsDisclosure
Your purchase of MEMBERS CHOICETM 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 non-refundable 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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