Protect Your Vehicle with GAP Insurance
Have you ever totaled your vehicle and discovered that your insurance company didn’t cover the total loan balance? If you answered yes, GAP Insurance offers a great solution.
Rogue Credit Union offers an easy to enroll GAP Insurance Program through Frost Financial Services. The one-time fee for this program can be added to your loan at the time of initial signing.
The moment your vehicle is driven off the lot, it depreciates approximately 20% and continues to decline approximately 15% each year, for the next four years. The amount owed on your vehicle and the amount it is actually valued at can vary significantly. That is where having GAP Insurance can save the day if a tragedy occurs.
· The GAP Insurance charge can be financed with the loan
· May be purchased and added to the loan within the first 18 months of the loan signing, providing the collateral has
not been stolen or totaled
· Will assist you in covering the difference between loan balance and actual value if the vehicle is totaled
· Will also cover the cost of the primary insurance deductible
|Your Loan Balance:||$ 25,000|
|Vehicle Value Determined by Primary Insurance Comany:||-$21,000|
|Primary Insurance Deductible:||$500|
|Remaining Loan Balance You Are Responsible to Pay:||$4,500|
|Amount GAP will Cover:||$4,500|
|Amount owed after GAP pays*:||$0.00|
*Subject to certain exclusions and benefit limitations
GAP Insurance offers peace of mind in the event that your vehicle is totaled. If you are interested in taking advantage of this great option, please talk to one of our friendly Member Service Representatives today! This offer is available up to 18 months after the purchase of your vehicle.