- 90 Day Refund Period
- Reduced or Eliminated Loan Payoff
- Deductible Assistance
- No Time Limit on Claims
- Roll GAP Into Your Auto Loan
Frequently Asked Questions
Is GAP required?
No, GAP is completely voluntary and not required for an auto loan.
Can I add GAP after I've already purchased my vehicle?
Yes, GAP can be purchased at any time. However, GAP must be added during the loan process in order to roll the price into your vehicle loan.
Can I cancel GAP?
Yes, GAP can be canceled at any time during the loan.
Does GAP offer a refund?
Depending on your product and the state you reside in, you may be eligible for a full or partial refund upon cancellation.
I want to refinance my auto loan, can I purchase GAP at this time?
Yes, if you would like to purchase GAP for the vehicle you are refinancing, this would be a great time to do so. GAP would then cover the new loan term and balance.
Does GAP cover towing and storage expenses?
No, GAP does not cover towing or storage expenses.
Can GAP be transferred to a different vehicle?
No, GAP cannot be transferred to a different vehicle. It protects the vehicle listed on the original agreement only.
Your purchase of MEMBER'S CHOICE Guaranteed Asset Protection (GAP) is optional and will not affect your application for credit of 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 purchased from state chartered credit unions in FL, GA, IA, RI, UT, VT, AND WI, may be 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 purchased 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 purchased from state chartered credit unions in IN may be with or 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.