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Protect Your Auto Purchase
GAP Plus Coverage
A new vehicle is a major purchase, one that you likely use nearly every day. On the road, accidents can happen, and over time wear and tear is inevitable. Citadel's GAP Plus coverage can protect your investment by saving you money in the long run.
Guaranteed Asset Protection (GAP) Plus Coverage
Citadel offers affordable GAP Plus coverage at a cost of $599 to help protect you against financial loss if your vehicle is stolen or declared a total loss.
In the unfortunate event that your car is totaled or stolen, this coverage plan can help ease your financial burden by waiving the difference between your primary insurance settlement and your vehicle loan balance on items directly related to the purchase of your vehicle. GAP Plus coverage can save you from paying off a loan on a destroyed or lost car.
GAP Plus coverage pays all or part of the difference between what your insurance agency will pay and what you owe on your car – the “gap.” There is often a maximum loan to value ratio, which is usually the amount you financed compared to the value of your vehicle at the time of your loan.
GAP Plus coverage purchased after the vehicle has been financed would be effective the date of coverage purchase, using the loan term and loan amount valid as of that date.
Citadel’s GAP Plus Coverage:
- Is available for all drivers, with a Citadel loan for a new or used vehicle
- Waives all or part of the “gap” between what your insurance company will pay and what you owe
- Enhances your current insurance policy with additional coverage
Not a deposit, not NCUA insured, not insured by any federal government agency, not guaranteed by the Credit Union, and may go down in value.
Purchase GAP Plus coverage now for $599!
Purchase Now
GAP Plus Protection: GAP Plus is not insurance; it is an optional debt cancellation product. GAP Plus will not affect your application for credit or the terms of any credit agreement you have with us. Certain eligibility requirements, conditions and exclusions may apply. You will receive the contract before you are required to pay for GAP Plus. You should carefully read the contract for a full explanation of the terms. If you choose GAP Plus, adding the GAP Plus Fee to the amount financed under your contract will increase the cost of GAP Plus. You may cancel GAP Plus at any time. If you cancel GAP Plus within 90 days you will receive a full refund of any fee paid. GAP Plus purchased from state-chartered credit unions in FL, GA, IA, IN, UT, VT, and WI may be with or without a refund provision. Prices of the refundable and non-refundable products are likely to differ. If you purchase a refundable product, 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 CO, MO or SC may be canceled at any time during the loan and receive a refund of the unearned fee.
