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nh postal credit union
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Guaranteed Asset Protection (GAP)

Are you financing your car, light truck, or SUV? Did you know that if it's totaled or stolen, YOU COULD FACE A FINANCIAL RISK that your auto insurance policy may not cover? Guaranteed Asset Protection (GAP) coverage protects you against this risk!

In the event of theft or total loss of your vehicle, most insurance companies only pay the Cash Value of the vehicle at the time of the loss. Your remaining loan balance could be much greater than the Cash Value of your vehicle creating a DEFICIENCY OF SEVERAL THOUSAND DOLLARS THAT YOU'RE LIABLE FOR! What is the "GAP" on your vehicle? You may be surprised at the answer!

How GAP Works. A Typical Example.
Vehicle's original purchase price:
Suppose after one year you experience a total loss on your vehicle...
Loan balance after one year:
Insurance settlement covering vehicle's current value:
Your lost investment without GAP...
Your remaining unpaid loan balance; the "GAP" (including your deductible, up to $1,000)* :
GAP pays the following toward the financing or leasing of a replacement vehicle...
GAP pays the difference:
GAP Advantage also pays:
Total GAP Benefit:
GAP Example Graph:
gap example graph
* Deductible reimbursement is available in most, but not all states. Please consult your financing representative for the availability of this benefit.
The GAP Advantage Keeps You In The Driver's Seat

The GAP Advantage gives you further peace of mind. If the vehicle you are now purchasing ever becomes "totaled", or is stolen and not recovered, GAP Advantage pays an additional $1,000.00 toward the purchase of a replacement vehicle. Not only will you receive the difference between the value of your vehicle and its unpaid loan or lease balance, you also get a head start on financing a new or used replacement vehicle when you refinance through the same financial institution.

Please contact us for further details.