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GAP Plus 

GAP Plus, or Guaranteed Asset Protection Plus, is designed to help protect the payment "gap" between what insurance pays out and what you still owe on your vehicle.  This means you may be protected from a potential financial loss.

If you total your vehicle in an accident or if it's stolen, your insurance company will offer you a payout based on the value of your car.  GAP Plus is designed to protect the difference between this payout and what you owe, saving you from a potential financial loss.

GAP Disclosure

Coverage and Benefits

  • $50,000 maximum claim benefit
  • Loan term coverage up to 84 months*
  • GAP Plus pays $1,000 of the new loan financed with us within 60 days of insurance settlement when a total loss occurs
  • 90 day free look-cancel options

*coverage will only apply to the first 72 months 

How do I get GAP Plus?

Sign up for GAP Plus when you take out your auto loan.  We'll factor in the extra fee for this protection into your montly auto payment.  You may also pay for GAP Plus separately by cash or check.

For more information, please contact us or visit one of our branches today!

 

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Michigan Educational Credit Union,
9200 Haggerty Road Plymouth, MI 48170
Dedicated to serving the financial needs of our community since 1942.
National Credit Union Administration
This Credit Union is federally-insured by the National Credit Union Administration
We do business in accordance with the Fair Housing Law
Equal Housing Lender