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Loans & Credit Cards
> GAP Protection
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GAP Protection
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What is GAP?
Guaranteed Auto Protection is a Loan/Lease Balance Deficiency (GAP) Waiver designed to eliminate your unpaid net loan/lease balance in the event your vehicle is stolen or damaged beyond repair (totaled).
What does GAP cover?
GAP covers the difference between the actual cash value of the care (primary insurance company settlement, plus the actual deductible up to $1000) and the outstanding loan/lease balance at the time of loss, less certain deductions.
Benefits to You
- Eliminates "out-of-pocket” expense for remaining loan/lease balance after loss settlement
- Helps protect credit rating
- Helps borrower/lessee to purchase replacement vehicle
- Many more!
Can you afford not to purchase GAP?
These products offered by Southwest Louisiana Credit Union are not federally insured, are not obligations of Southwest Louisiana Credit Union, are not guaranteed by Southwest Louisiana Credit Union or any affiliated entity. |
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