Have New Wheels? Protect Your Purchase

You have an auto loan and are ready to hit the road. But have you thought about if your car is hit and your regular insurance doesn’t cover the entire loan balance? What if your car requires major repairs down the road? Guaranteed Asset Protection (GAP) and Mechanical Breakdown Insurance are two ways you can protect your new wheels.

GAP Advantage from DCU covers the difference between the actual cash value of your car and your outstanding loan balance. If your car is stolen or totaled in an accident, your regular insurance may not cover your entire loan balance. For a one-time cost of $295, GAP steps in to help cover the loan balance as well as provide a $1,000 credit toward the financing of a replacement vehicle.

Mechanical Breakdown Insurance can be a good investment if you intend to keep your car a long time. It’s an insurance product available through DCU that covers you for out-of-pocket repairs on both new and used cars at half the cost of an extended warranty. You can choose a plan that is ideal for you, and all plans offer nationwide protection, 24-hour roadside assistance, and rental car allowance.

Learn more about GAP Advantage and Mechanical Breakdown Insurance at dcu.org, by visiting any branch, or by calling DCU’s Information Center.