![]() Your checking account number can be found on the bottom of your checks. Your checking account number, in most cases, is your share savings account number with a “9” added at the end. Our MEMBER’S CHOICE Payment Protection can help if your income is reduced or eliminated due to involuntary unemployment, a disabling injury or illness or an unexpected death. Get a quote today by stopping by any branch location or by calling a DuTrac representative at 56.ĭo you offer a payment protection program on vehicle loans? Minimize the disruption of car repairs with mechanical repair coverage. If the credit union offers a refund provision, you may cancel at any time during the loan and receive a refund of the unearned fee. GAP purchased from state chartered credit unions in IN may be with or without a refund provision. 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 you choose a refundable product, you may cancel at any time during the loan and receive a refund of the unearned fee. Prices of the refundable and non-refundable products are likely to differ. GAP purchased from state chartered credit unions in FL, GA, IA, RI, UT, VT, and WI, may be with or without a refund provision. If you cancel GAP within 90 days you will receive a full refund of any fee paid. If you choose GAP, adding the GAP fee to your loan amount will increase the cost of GAP. You should carefully read the contract for a full explanation of the terms. ![]() You will receive the contract before you are required to pay for GAP. Certain eligibility requirements, conditions, and exclusions may apply. Your purchase of MEMBER’S CHOICE™ Guaranteed Asset Protection (GAP), which includes deductible assistance, is optional and will not affect your application for credit or the terms of any credit agreement you have with us. *Car Depreciation: How Much Value Will a New Car Lose? CARFAX, Nov 9, 2018. If repairs cost more than your deductible, the deductible amount is applied to your vehicle loan at the credit union, reducing what you owe. Our GAP Plus program includes Deductible Assistance which is designed to provide financial relief when your vehicle is damaged but not deemed a total loss. Our GAP program may reduce or eliminate the gap between what your vehicle insurance will pay and what you owe on your loan. Plus, it helps you get into your next vehicle by reducing your loan at the credit union by $1,000. ![]() This leaves a gap between what you owe on your loan and the value of your vehicle if it’s deemed a total loss due to an accident or theft. A good rule of thumb is to assume your new vehicle will depreciate more than 20% after the first year you own it, half of which occurs the minute you drive it off the lot. GAP stands for “Guaranteed Auto Protection” and is a great way to protect your finances if the value of your vehicle is less than the amount of your car loan. What is GAP coverage and how does it work? ![]()
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