GAP Plus Coverage

Protection from damage or loss.

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Bridges the gap between your car's replacement value and what you still owe on your loan.

If you need to buy a replacement car financed through us, GAP Plus may cancel $1,000 of your new loan.

Available for auto loans up to 84 months.

No mileage restrictions.

If repairs cost more than your deductible, you can cancel a portion of your loan equal to your deductible, up to $1,000.

An insurance adjuster with clipboard reviews a damaged car.

How GAP Plus Works

If your car is stolen or damaged beyond repair and declared a total loss, your insurance covers its replacement value. And if your loan balance is higher than the vehicle's actual cash value as determined by your primary insurance carrier, you'd typically be responsible to pay the difference. This is where GAP Plus comes in — it acts as a safeguard, ensuring you won't have to cover the shortfall on your own.

GAP Plus also includes Deductible Assistance, providing financial relief if your vehicle is damaged but isn’t considered a total loss. If the cost of repairs is more than your deductible, the deductible amount is applied to your vehicle loan, reducing what you owe.

Sample Illustration

Let's say your original loan balance was $25,000, but on the date of the loss, it was $21,000. After the accident, your insurance settlement is $16,000, leaving you with an unpaid loan balance of $5,000. With GAP Plus, your loan balance would be reduced to $0.

(This example is for illustration purposes only. Actual insurance settlements and GAP Plus benefits may vary.)

Explore Our Auto Loan Options

FastTrack: Easy SchoolsFirst FCU financing and a network of more than 600 dealerships.
Enterprise Car Sales: Quality used cars inspected by certified technicians.
Autoland: A personal consultant will do the shopping for you.
TrueCar: Get upfront pricing and see what other buyers have paid.

Auto loans with rates as low as 5.69% APR for new vehicles,^† 5.79% APR for used vehicles.^†
Finance a leased or private seller car.
Refinance an existing auto loan.
Pause your monthly payments if you become disabled or unemployed with Payment Shield Plus.

Auto Insurance: We do the work for you to find the right coverage at the best price.
GAP Plus: Additional protection to cover your car's value if your car is damaged beyond repair.
Mechanical Repair Coverage: Provides covered repairs for new and used eligible vehicles after your warranty expires.
MexiPass: Special coverage if you drive your car to Mexico.

AUTO LOAN RATES & TERMS

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Friday, 9 a.m. – 6 p.m.
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(800) 462-8328, EXT. 4389

Disclosures

GAP, which includes deductible assistance, is not insurance; it is an optional debt cancellation product. GAP will not affect your application for credit or 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 the amount financed under your contract 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. Prices of the refundable and non-refundable products are likely to differ. If you purchase a refundable product, you may cancel at any time during the loan and receive a refund of the unearned fee.  GAP-6465027.1-0324-0426

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APR = Annual Percentage Rate. All loans subject to approval. Lowest rates reflect a 0.75% discount for payment by automatic transfer from your SchoolsFirst FCU Share Savings or Share Draft Checking account.