Guaranteed Asset Protection (GAP)

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Did you recently purchase a new or used vehicle?
What if it is damaged beyond repair?
Want to protect your vehicle investment?

Desert Schools offers Guaranteed Asset Protection (GAP) to safeguard your auto investment against financial loss in the event your vehicle is totaled or stolen. GAP is available on autos, motorcycles, motorized scooters, ATVs, boats and watercraft. GAP is designed to protect exactly that—the “gap” or difference between what you owe on your loan and what the primary insurance settlement will pay.

Guaranteed Auto Protection
  • Available for new or used vehicles1
  • Covers up to $50,0002
  • Available on loans up to 84 months
  • Low one-time fee, as low as $495
  • Free Look option3

The value may depreciate quickly, especially on brand new vehicles . . . leaving you with a loan balance that is temporarily higher than the value of the vehicle. See the example below:


GAP Protection Chart

1Vehicle cannot exceed one-ton load capacity. Not available on commercial vehicles. GAP can be added 6 months after the loan is funded by paying with cash or adding to the loan.
2Maximum loan amount is $75,000 for autos and $125,000 for boats, trailers, and RVs, and includes up to $1,000 deductible.
3Option of canceling for a full refund within 60 days.

Equal Housing Lender Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S.Government Agency. ©2014 Desert Schools Federal Credit Union