Guaranteed Asset Protection (gap)

Protect your vehicle with GAP.

Get a free GAP quote and find out how much you can save.

Benefit from Member-exclusive GAP pricing.

In the event your vehicle is stolen or totaled, the settlement your auto insurance company would provide may be substantially less than the amount you owe on your loan.

Guaranteed Asset Protection, or GAP, is optional, add-on coverage that helps cover the gap between the amount still owed on the vehicle and its actual cash value.

For example, say your vehicle is totaled in an accident and you are found not at fault. You still owe $10,000 on your loan at the time of the accident, but the actual cash value of your vehicle is only $5,000. After your deductible, GAP Protection would cover the $5,000 difference.skip to disclosure

How much does GAP cost?

GAP Policy Term Autos Motorcycles
Up to 60 Months$449$498
61-72 Months$499$548
73-84 Months$499

Note: there is a $50 surcharge for electric vehicles

Do I need GAP?

GAP may not be for everybody, but if you fit into one of the following categories, it could be a smart investment:

  • You made a down payment less than 20%, so you may owe more than your car is worth.
  • Your loan term is longer than 48 months. With a longer loan term you build equity more slowly.
  • You drive more than 15,000 miles annually, which causes the vehicle to depreciate faster.
  • The make and model of your vehicle depreciates faster than average.

Get a free GAP quote.

Get help with GAP.

Generally yes, car dealerships do offer GAP; however, our prices are substantially lower than what auto dealers typically charge. From what we have observed, on average, dealers typically charge $995.

You only have to purchase GAP once and you’ll be protected for the life of the loan.

No, GAP does not require you to have a deductible.

If your vehicle is totaled in an accident or stolen and not recovered, the insurance settlement based on the actual cash value of your vehicle—not the outstanding loan balance. This could create a loan “gap”—money you owe on the loan after the insurance company pays its portion. Optional GAP may cover the difference between the outstanding loan amount and the actual cash value of the vehicle. Note: GAP cannot be transferred from one vehicle to another. GAP does not replace your required comprehensive and collision auto insurance. Your purchase of GAP is optional and will not affect your application for credit. Eligibility requirements, conditions, and exclusions apply.

  • GAP is provided by MemberFirst©. GAP claim and final coverage determination is made at the time of the total loss claim. We cannot and do not guarantee coverage examples applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. Your purchase of GAP is optional and will not affect your application for credit. Eligibility requirements, conditions, and exclusions apply. Refer to the actual GAP policy for full details.

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  • DuPage Credit Union is in no way responsible for the insurance or investment products provided through this program. Insurance and Investment products offered by third party are not DuPage Credit Union deposit products or services and are not federally insured, have no credit union guarantee, and may lose value. Information contained on this website does not serve, either directly or indirectly, as legal, financial, or tax advice. Always consult a qualified legal, financial, and/or tax advisor when making decisions related to your individual situation.

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