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Guaranteed Asset Protection (GAP).

GAP is a great way to protect your finances if the value of your vehicle is less than the amount of your vehicle loan. 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.1 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. Adding GAP may reduce or eliminate the gap between what your vehicle insurance will pay and what you owe on your loan.
Add easily to new or previous qualified loan Get an additional discount with Advantage Plus Rewards $1,000 towards your next vehicle loan with Advia if you utilize GAP
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Vehicles Covered
GAP Discount
FAQs

New and used vehicles covered under GAP.

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GAP Discount
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Be prepared, be protected.

Right now, GAP is as low as $475. Standard GAP protects up to 84 months, or the end of the loan, whichever comes first. On average, GAP can cost you as low as $0.18 a day.

Plus, you may be eligible to receive a $25 discount if you qualify for Advantage Plus Rewards!2
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Advantage Plus Rewards

Discover how $0.18 a day can protect your loan.

Cost Term
$475.00 84-month policy
Or $67.87 year
Or $5.65 month
Or $0.18 day

Add GAP anytime.

Easy to add

We make it easy.

Add GAP when you get your new loan and we'll make it part of your monthly payment.

It's Not Too Late

It's not too late.

Already made your purchase? You can still add GAP by making a one-time payment.

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Vehicles Covered
FAQs
Feel free to contact us with additional questions.

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GAP product questions.

How much is it to add GAP to a new or existing loan?

Currently, GAP coverage is as low as $475. However, if you’re earning Advantage Plus Rewards at the time of purchase, you can save $25. GAP can be included at the time of loan funding or paid for out-of-pocket if you decide to add GAP anytime thereafter! Chat with a live agent or give us a call to add GAP today.

Are all vehicles eligible for GAP?

A motor vehicle does not qualify if it’s 1. used to transport passengers for compensation, excluding Uber and Lyft, 2. used for racing, 3. an emergency vehicle, 4. a classic vehicle, 5. salvaged or previously salvaged title vehicle, or 6. any vehicle deemed a total loss, junked, rebuilt, or reconstructed.

Is there a special type of insurance I need to add GAP?

You must have full comprehensive and collision damage insurance coverage at all times. Advia Credit Union must also be the loss payee.

Can I cancel my GAP policy?

Our standard GAP may be canceled within the first 60 days to receive a refund. Please chat with a live agent or give us a call so we can assist further.

GAP & total loss claim questions.

My vehicle has been deemed a total loss by my insurance company. What are my next steps?

Make sure your Insurance Company is aware that Advia holds a lien. Your Insurance Company will contact Advia with the relevant claim details and for Letters of Guarantee. The request must include the following claim details:

  1. Settlement Amount
  2. Claim Number
  3. Contact Information
  4. Member’s Information
  5. Vehicle Description with VIN
  6. Odometer at Time of Loss
  7. Date of Loss
What if my insurance settlement is more than the balance owed on my loan?

Any funds remaining after the loan is paid off are yours and will be deposited into your primary Savings Account.

How do I start a GAP claim?

If you purchased GAP with Advia, we will file the GAP claim for you once we receive your Insurance Company's settlement check.

What if I still have a loan balance after my insurance company and GAP have applied their payments?

You are still responsible for the remaining balance. Late fees and credit reporting still apply. You can: Pay the loan off in full, continue to make the normal monthly payments, or apply to refinance the remaining loan balance to an unsecured loan with smaller monthly payments. If you choose to refinance, please apply online, chat with a live agent, or give us a call to see how we can assist.

Do I still need to make my regular loan payments while my insurance company is evaluating/processing my claim?

Yes, during the claim process, you are still responsible for the monthly loan payments until the loan is fully paid off. Late fees and credit reporting still apply.

If my vehicle was deemed a total loss, how can I get $1,000.00 toward my replacement vehicle?

First, you will need to finance your replacement vehicle with Advia. This must occur no later than 90 days after your Insurance Company’s settlement check is distributed for the total loss Auto or RV vehicle. When financing your replacement vehicle, you must let your loan officer know that you need a GAP claim on your new loan. After, Advia will file the additional claim on your behalf and will apply the funds to the principal balance of your new loan. Most qualifying GAP claims are paid within 7-10 business days.

1 Your purchase of GAP Advantage is optional. Whether or not you purchase this product will not affect your application for credit or the terms of any existing credit agreement you have with us. We will give you additional information before you are required to pay for GAP Advantage. This information will include a copy of the GAP Waiver which will contain the terms and conditions of the GAP Advantage benefit. There are eligibility requirements, conditions, and exclusions, including a loan-to-value maximum that may cap the benefit you receive from GAP Advantage. You should carefully read your GAP Waiver for a full explanation of the benefits, rules, terms, and conditions of the program.