Guaranteed Asset Protection (GAP) Coverage
Protect your investment with GAP coverage. Your car loses value the second you drive it off the lot, which can put a surprising strain on your wallet if your car is totaled.
The value of your vehicle can be substantially less than what you still owe on your loan. GAP coverage takes care of this financial gap. It’s available for both new and used vehicles. The cost can be added to your loan.
Austin FCU's GAP insurance comes with an added benefit called Auto Deductible Reimbursement (ADR). This is a unique benefit that protects you if you're involved in an accident that doesn't result in a total loss. ADR will pay up to $500 towards your deductible anytime you have to pay your deductible in the first 3 years of your loan. Click here for an information sheet on this benefit.
Mechanical Breakdown Protection (MBI)
Expensive repair bills can throw a wrench in your budget, unless you have an extended warranty. Austin FCU offers this coverage at just a fraction of what you would pay at the dealership. The cost can be added to your loan.
Sample MBI Contracts (not all coverage levels are available for all vehicles, speak to your loan officer to get a quote specific to your vehicle)