Guaranteed Asset Protection (GAP) Plans PDF

Guaranteed Asset Protection Alliance Catholic Credit Union 021-0955-6 Michigan Plans as of 12/05/2024 vehicle loan balance on items directly related to the purchase of their vehicle. Refer to the Guaranteed Asset Protection Waiver Agreement for comprehensive plan information. +-----------+------...

Guaranteed Asset Protection Alliance Catholic Credit Union 021-0955-6 Michigan Plans as of 12/05/2024 vehicle loan balance on items directly related to the purchase of their vehicle. Refer to the Guaranteed Asset Protection Waiver Agreement for comprehensive plan information. +-----------+-----------+-----------+-----------+-----------+-----------+ | Refundabl | 84 Months | | 84 Months | 84 Months | 84 Months | | e | | | | | | | | | | | | | | Non-refun | | | | | | | dable | | | | | | | Monthly | | | | | | | GAP Fee | | | | | | | | | | | | | | Maximum | | | | | | | Benefit | | | | | | | | | | | | | | Maximum | | | | | | | Loan | | | | | | | Amount | | | | | | | | | | | | | | Maximum | | | | | | | Term | | | | | | | | | | | | | | Maximum | | | | | | | Loan-to-V | | | | | | | alue | | | | | | | | | | | | | | Loan-to-V | | | | | | | alue | | | | | | | Ratio | | | | | | +===========+===========+===========+===========+===========+===========+ | | | | | | | +-----------+-----------+-----------+-----------+-----------+-----------+ What's Eligible? What's Protected? +-----------------------+-----------------------+-----------------------+ | Loans NOT Eligible | New & Used: New & | - Conventional | | | Used: New & Used: | trailers | | | | | | | - - - - - - | - Fifth wheel | | | | | | | | - Travel trailer | | | Personal & Commercial | | | | Personal Personal | - Folding camping | | | | trailer | | | - - - - - - | | | | - | - Truck Camper | | | | units | | | | | | | | - Type A, B and C | | | | motor homes | | | | | | | | Personal | +-----------------------+-----------------------+-----------------------+ +-----------------------+-----------------------+-----------------------+ | ^Member's\ Payment^ | | | | Single Fee - GAP fee | | | | is included in | | | | member\'s loan | | | | payment OR paid in | | | | full with cash, check | | | | or credit card | | | | payment to your | | | | credit union Methods | | | | | | | | ^Primary\ Insurance^ | | | | Protects up to | | | | \$1,000 of your | | | | vehicle insurance | | | | deductible where | | | | allowed by state law | | | | | | | | Deductible | | | | | | | | Right to Purchase | | | | Available to purchase | | | | anytime during the | | | | life of the loan | | | | | | | | Claims Submission | | | | There is no time | | | | limit for the credit | | | | union to submit a | | | | claim from the date | | | | the vehicle is | | | | declared a total loss | | | | | | | | ^GAP\ Plus^ \$1,000 | | | | is waived from the | | | | loan or lease when | | | | the replacement | | | | vehicle is financed | | | | by our credit union | | | | within 120 days after | | | | member\'s | | | +=======================+=======================+=======================+ | | - After 90 days: | | | | | | | | | | | | | | | | - | | +-----------------------+-----------------------+-----------------------+ | | - - - | | +-----------------------+-----------------------+-----------------------+ | | Fax: 800-949-0551 | | | | Mail: TruStage Claims | | | | Administration - GAP | | | | Claims P.O. Box 1221, | | | | Madison, WI | | | | 53701-1221 | | | | | | | | Phone: 800-557-8955 | | +-----------------------+-----------------------+-----------------------+