GAP

If your vehicle is ever stolen or damaged beyond repair, your insurance company calculates and pays you the cash value of your car. Problem is, their calculations may be less than the balance still left on your auto loan. In this situation, you are still liable for the remainder of the loan, plus extra money for insurance deductibles, and financing a replacement vehicle. GAP, Guaranteed Asset Protection, eliminates the headache of paying up to thousands of dollars if your vehicle is ever declared a total loss. With GAP, the remainder of your loan (up to $50,000.00) and your insurance deductibles (up to $1,000.00) will be paid. In addition, you will receive $1,000.00 to put toward the purchase of a replacement vehicle financed through BayPort Credit Union. With GAP, you safeguard your vehicle's value, your Credit Union accounts, your credit rating, and your peace of mind. GAP can be purchased at the time you finance your vehicle or anytime during the life of your loan. Your vehicle is protected for the term of your loan up to 84 months, and protection becomes effective immediately after loan closing. The cost is only $279.00. This amount may either be paid up front, or may be included in your loan. For more information, please call 928-8850 or visit a Member Service Representative.