GAP Advantage
Guaranteed Asset Protection Advantage (GAP Advantage) protects you against financial loss in the event that your vehicle is damaged beyond repair (totaled) or stolen and never recovered.
Eliminates or reduces “out-of-pocket” expenses for the remaining loan balance after loss settlement
You’re able to purchase replacement vehicle sooner because there is little to no carry-over balance
May cover a deficiency balance up to $50,000
Available at a reduced amount compared to other GAP Advantage providers
Fully refundable within first 60 days if no GAP Advantage benefits have been paid
Eligible Collateral & Rates
| Collateral Type |
Max MSRP/NADA Coverage |
Missed Payment Coverage |
Max Limit of Liability |
Max Eligible Loan Term* |
Max Eligible Loan Balance |
GAP ADV Cost per Waiver |
|---|---|---|---|---|---|---|
| Autos Light Trucks |
125% | Two (2) Missed Payments (per year) |
$50,000 | 84 Months | $100,000 | $499 |
| Motorcycles ATV’s Snowmobiles Golf Carts Jet Skis |
125% | Two (2) Missed Payments (per year) |
$50,000 | 240 Months* | $50,000 | $499 |
| Travel Trailers Watercrafts Motorhomes |
125% | Two (2) Missed Payments (per year) |
$50,000 | 240 Months* | $0-$24,999 $25,000-$49,999 $50,000-$74,999 $75,000-$125,000 |
$584 $898 $1,170 $1,900 |
Major Mechanical Protection
Major Mechanical Protection (MMP) makes it affordable for you to keep and enjoy your vehicles longer. You pay for the warranty once, and in most cases, will not have to pay for anything more than a small standard deductible should a breakdown occur.
Credit Protection
CREDIT LIFE PROTECTION
There’s no way your family can predict your unexpected death, but you can take steps along the way to make sure your family is provided for if the unexpected occurs. Credit Life Protection may help pay your loan, so your loved ones don’t have to.*
HOW DOES CREDIT LIFE PROTECTION WORK?
The premium is included in your monthly loan payment. If you have a balance on your loan at the time of your death, Credit Life Protection may help.* By taking a few simple steps while signing your loan paperwork, you’re taking responsibility for your family’s financial future. Your loan officer can show you how. You won’t receive extra bills or statements; everything is included in your monthly payment. You can cancel coverage at any time if you change your mind. If coverage is canceled within the first 30 days you will receive a full refund. If at any point you have questions, or if your family needs to file a claim, simply contact your local East Idaho Credit Union branch. Coverage is immediate for eligible borrowers.
WHY IS CREDIT LIFE PROTECTION VALUABLE?
Your family may not have to make loan payments -Credit Life Protection may help pay off the loan. That means your family can use savings, salary or other life insurance for other important things. East Idaho Credit Union’s Credit Disability Protection may help make your loan payments if anything ever happens.
*Up to your policy maximums: per terms and conditions and exclusions on your Credit Protection Certificate.
CREDIT DISABILITY PROTECTION
There’s no way anyone can predict a total disability due to injury or an illness, but you can take steps along the way to make sure your family is provided for if the unforeseen were to happen. East Idaho Credit Union’s Credit Disability Protection may help make your loan payment when you and your family need it most.*
HOW DOES CREDIT DISABILITY PROTECTION WORK?
The premium is included in your monthly loan payment. If you have a balance on your loan at the time of a total disability East Idaho Credit Union’s Credit Disability Protection may help.* By taking a few simple steps while signing your loan paperwork, you’re taking responsibility for your family’s financial future. Your loan officer can show you how. You won’t receive extra bills or statements; everything is included in your monthly payment. You can cancel coverage at any time if you change your mind. If coverage is canceled within the first 30 days you will receive a full refund. Coverage is immediate for eligible borrowers.
WHY IS CREDIT DISABILITY PROTECTION VALUABLE?
Some disability insurance pays only a fraction of your salary, and that’s if you qualify. East Idaho Credit Union’s Credit Disability Protection may help make your loan payments while you’re totally disabled due to a covered illness or injury.* That means you and your family can use your savings for other important things.
