In addition to financing, we offer additional services to assist
you when purchasing a new or used vehicle.
Guaranteed Asset Protection (GAP) for Your Vehicle Purchase
You could lose more than your vehicle if it is stolen or involved
in a major accident. Because most insurance policies only cover
the value of your vehicle - something that rapidly declines
during the first few years of ownership - your loan balance
can be higher than the value of your vehicle. This situation
is commonly called being "upside down" on a loan.
GAP covers the difference between your primary insurance carrier's
Actual Cash Value determination and the payoff amount of your
loan. Delinquent payments, late charges, refundable service
warranty contracts, other insurance-related products, and interest
charged after the date of loss will be deducted from the settlement.
Here's an example of how GAP works:
Original Purchase Price..............$20,000
Loan Balance After One Year......$18,000
Insurance Settlement..................$15,000
Remaining Balance.....................$ 3,000 (GAP pays)
For just pennies a day, GAP provides peace of mind, convenience,
confidence and significant savings. Enrollment is simple. Contact
your loan officer for details.
Credit Insurance
ATFCU Credit Insurance protects your family in the event that
the loan signer (or co-signer) should die or become disabled.
Please contact your loan officer for additional information.
Research Before You Buy!
New vehicle buyers - Check out the following websites to
research invoice price, MSRP and options on vehicles you're interested
in.
Used vehicle buyers - Obtain pricing guidelines for
used cars and trucks and check out vehicle history.
Kelley Blue Book
NADA Guides
AutoTrader
Edmunds Guide
Do you have unexpected expenses this month? Does your family
have needs your pocket book didn't expect? Take advantage of
ATFCU's many convenient loan options.
