Georgia State University Federal Credit Union

GAP Protects You…
Service provided by Evens & Simpson
All risk protection fire, theft, collision, or any insured peril
Protection for new and preowned vehicles, leased or purchased
Protection for the entire term of the loan or lease
Minimal monthly cost
Totally insured, multifaceted program, underwritten by an A-rated admitted insurer

Did You Know…

  • The market value of your new vehicle starts to depreciate the moment you take possession.
  • If your vehicle is totaled or stolen, your insurance usually does not cover the entire amount you owe on a lease or a loan.
  • If a total loss occurs, you may have to pay the difference, the gap, between what you owe, and the actual cash value of your vehicle, from your own pocket.
  • Now, buyers and lessees of new and preowned vehicles can obtain a product that will pay off loan and lease balances and that could help in the purchase or lease of a new vehicle!

 

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