GAP Plus

Cover that financial gap with GAP Plus protection

Here's the unfortunate situation: Your vehicle is totaled in an accident or stolen and not recovered. Here's the reality: The settlement money you receive from an insurance payout may not be enough to pay off your Ideal Credit Union auto loan. Enter GAP Plus. This kicks in to make up that difference while providing you an additional $1,000 toward financing your next vehicle through us. It's valuable protection that delivers peace of mind for just a small amount of money per month.

How GAP Plus works for you	Dollar Amount
Original purchase price	$25,000
Loan balance after one year	$20,000
Insurance settlement covering vehicle's current value	$16,000
Your lost investment without GAP Plus(Including your deductible)	$4,000
GAP Plus waives the difference	$4,000
Funds provided toward financing or leasing a replacement vehicle with Ideal Credit Union	$1,000
Total GAP Plus Benefit	$5,000

What to know before you borrow

Set a realistic budget and borrow only what you need

Check your credit score for the best possible rates

Pay bills online with easy one-time or recurring options

Understand your repayment term, payment and total cost

Set up automatic payments to avoid missing due dates

Pay extra when possible to reduce interest and finish early

Disclaimers

GAP 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 loan will increase the cost of GAP because there will be additional interest due based on the inclusion of the GAP Fee in the loan principal amount. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid, if no benefits have been provided. GAP purchased from state-chartered credit unions in FL, GA, IA, IN, UT, VT, and WI may be with or without a refund provision. 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, if no benefits have been provided.  GAP purchased from state-chartered credit unions in CO, MO or SC may be canceled at any time during the loan and receive a refund of the unearned fee, if no benefits have been provided.