Buying a car? We've got the Advantage!

Guaranteed Asset Protection (GAP)

If a vehicle is totaled or stolen, your primary insurance company settlement can be significantly less than the outstanding loan balance. This may create a deficiency balance or a “gap” resulting in a serious financial hardship for you, the borrower. The “gap” may even jeopardize repayment of the loan or the ability to get financing for another vehicle. GAP is designed to relieve you if the responsibility for the remainder of the loan balance that your primary insurance carrier does not cover.

Additional Benefits:

In addition to the traditional GAP coverage described above, this protection also includes a GAP Advantage Benefit. You may be eligible to receive an additional $1,000.00 benefit to be used towards the purchase of a replacement vehicle when financed through us. To receive the GAP Advantage Benefit, there must be a total loss and a new loan must be made for the replacement vehicle within 90 days of when the vehicle is determined to be a total loss.

Auto Advantage Program

When you  purchase GAP Advantage from LEFCU, you will also be enrolled in our Auto Advantage Program. This program gives you the benefit of an Auto Deductible Reimbursement. You will be reimbursed for your insurance deductible (up to $500 per loss with a limit of two losses per year) when a loss is filed and paid by the auto insurance company for a covered auto that you own and are insured on. The coverage is effective upon date of enrollment and will continue for 3 years.


You will also be covered for Personal ID Restoration Consulting to help restore your good name and credit if identity theft strikes.

Compare Program Pricing

Dealer offered GAP Programs can cost as much as $800 - $900.  The GAP Advantage Program through your credit union is only $399.00 and can be paid out right or added to your New or Current Vehicle Loan. For more details, contact our Lending Department at (978) 534-0240.