Loan Services

Guaranteed Asset Protection

Protect your auto investment…with Guaranteed Asset Protection

Did you know that if your vehicle were to be stolen or damaged beyond repair (totaled), your insurance company may not pay off the entire loan balance?

That’s because your insurance company settlement is based on the vehicle’s actual cash value. And because of the way vehicle values decline, the outstanding loan balance is usually higher than the actual cash value. You could end up paying off a loan balance for a vehicle you can no longer drive!

Guaranteed Asset Protection (GAP) is designed to eliminate your unpaid auto loan balance in the event your vehicle is totaled or stolen. GAP supplements, but does not replace, your primary auto insurance coverage.

For the one-time cost of $399.00, GAP covers the difference between the actual cash value of your vehicle (primary insurance settlement) and your outstanding loan balance at the time of loss, less certain deductions like credit insurance or service warranty contracts.

GAP is designed for all drivers, whether you finance a new or used vehicle. It may even cover your primary auto insurance deductible – up to $1,000 – as part of your claim settlement. And, the cost of GAP can be financed with your loan.

To thank you for purchasing GAP, we will provide you with the Auto Advantage Program which includes the Auto Deductible Reimbursement (ADR) benefit and other valuable services*.

For more information about GAP and ADR, ask your loan representative or call us. Learn more

GAP keeps you in the driver’s seat!

*Auto Deductible Reimbursement (ADR) is one benefit of the Auto Advantage Program. Other benefits include Personal ID Resolution Consulting and Warranty Registration.

Depreciation Protection

WHAT IS DEPRECIATION PROTECTION DPW?

Depreciation Protection kicks in if your vehicle is ever totaled or stolen and not recovered at anytime over the life of the loan. It waives some or all of your loan balance in the event of the total loss of your vehicle. The waiver benefit is equal to the difference between your vehicle’s MSRP or retail value at the time of DPW purchase, less the amount of your loan balance at the time of total loss. (The benefit cannot exceed the DPW addendum limit or your outstanding loan balance at the time of total loss.)

DPW IS IDEAL FOR THOSE WHO:

• Put money down or have equity in the vehicle
• Make accelerated loan payments
• Desire protection from vehicle depreciation
• Desire peace of mind knowing the money invested in a vehicle could be protected

BENEFITS OF PROTECTION:

• Benefit triggered by collision or comprehensive total loss, including theft
• Life of loan protection
• No mileage, make or year restrictions
• Open enrollment
• 100% refundable for first 60-days
• Accidental Death protection included, which provides for cancellation of up to $1,000 of your outstanding loan balance if you die in an accident

Learn more

Route 66 Mechanical Breakdown Protection

ARE YOU PREPARED for a mechanical breakdown with your vehicle?  Do you have the necessary cash to pay for the rising cost of repairs?  If you answered no to either of these questions then a Route 66 Extended Warranty is an intelligent investment to ensure that you are covered if a mechanical breakdown does occur.  The price of vehicles is consistently on the rise as well as the costs of repairing them.  Did you know that one in three vehicles will experience some type of mechanical failure in a given year?  According to ConsumerReports.com, “the average three year old car has 55 problems per 100 vehicles”.

A Route 66 Extended Warranty not only protects your investment from expensive mechanical breakdowns, but it also comes with a $0 deductible, 24/7/365 Roadside Service, rental car benefits, 30-day money back guarantees, nationwide coverage, and is fully transferable.  The Route 66 Extended Warranty is the most comprehensive coverage for all makes and models of automobiles so that you will be able to enjoy your new purchase and have “peace of mind” because even the most reliable vehicle can develop a mechanical problem at any time. 

With the Route 66 Extended Warranty’s Open Enrollment you don’t have to purchase your warranty at the time of purchase, but at any time during the life of the vehicle.  Regardless if your vehicle is still under a manufacturer’s warranty, Route 66 Extended Warranty has a plan that will fit your vehicle. DON’T GET STUCK WITH OUT COVERAGE! Learn more

Insurance and Warranty products are not products of the Credit Union and are not obligations of, or guaranteed by the Credit Union. Insurance or warranties may be purchased from an agent or an insurance company of the Member’s choice; and the Credit Union makes no representations as to the services of any provider.