GAP Protection

Depreciation of an auto often occurs faster than the reduction in your loan balance during the first 2 or 3 years of your loan. If a theft or a total loss occurs, your insurance company will pay only the actual cash value of your auto. This cash value may not pay off the balance of your loan; you are left with a GAP. GAP is the unpaid balance you still owe on the loan.

GAP Protection can help protect you by paying the difference between the value of the vehicle and the amount owed on your loan.

For more information contact a Financial Solutions Representative at 535-0191,1-800-828-8691 or info@progressionscu.org.

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