Other Services

Guaranteed Automobile Protection (GAP)

  • Nonrefundable GAP: One-time cost of $325
  • Refundable GAP: One-time cost of $425
  • Cost can be rolled into your loan payment
Apply Now
Or call us at 706.291.9290,
or visit one of our locations

In the first few years of owning a new car, your loan balance will probably be higher than the value of your vehicle, especially if you put little or no money down. As your vehicle’s value declines, your loan balance may decline at a slower rate, resulting in a financial gap. If your vehicle were totaled in an accident, or if your vehicle were stolen, you would be liable to pay the difference between your insurance settlement and your outstanding loan balance.

Take a look at how GAP works:
Loan Balance After One Year $15,000
Your Vehicle’s Actual Cash Value $11,000
Your Auto Insurance Deductible $1,000
Your Auto Insurance Settlement $10,000
Your Liability/Financial GAP $5,000
Guaranteed Auto Protection Pays $5,000

Our members can purchase nonrefundable and refundable GAP at the time of financing their new or used vehicles at the credit union. Our prices are usually hundreds less than banks’ or auto dealerships’ prices.

  • Nonrefundable GAP is a one-time cost of $325.00.
  • Refundable GAP is a one-time cost of $425.00, but it allows you to apply for a refund on the unearned premium in the event of cancellation or early loan payoff.

Members have the option to pay for GAP upfront, or they may include it as one of the financed items.

Loan Protection

  • Pays out in addition to other insurance policies
  • No physical exam necessary to qualify
  • Premium for insurance included in monthly loan payment – no additional bills to pay
Apply Now
Or call us at 706.291.9290,
or visit one of our locations

With Accident and Illness Insurance, you won’t have to worry about who will make your loan payments if you are unable. Accident and Illness Insurance is a credit insurance product that safeguards your loan in the event that you become disabled due to illness or accident. Payments will be made on your loan until you able.

NWGACU also offers Life Insurance that would pay off remaining balance on your loan in the event of death due to illness or accident.

For details about coverage and costs, contact a Financial Services Officer.