360 Federal Credit Union

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Routing Number: 211180133


Federally Insured by NCUA



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GAP Protection
What does GAP Advantage cover?1

GAP Advantage is designed for your protection whether you finance or lease a new or used vehicle. Almost any kind of vehicle* is eligible for GAP Advantage, including;
  •  Automobiles
  •  Vans
  •  Light trucks
  •  Motorcycles
  •  Boats
  •  Travel trailers
  •  Motor homes
  •  Golf carts
  •  Jet skis
  •  Snowmobiles
Protect the Investment in Your Vehicle

GAP Advantage is an optional benefit that provides additional risk protection and peace of mind.

How does GAP Advantage work?

GAP Advantage protection goes into effect when you need it most - your vehicle is stolen and isn't recovered or totaled in an accident and can't be repaired.

GAP Advantage waives the difference between the payoff of your loan or lease, less delinquent payments, late charges, refundable service warranty, and other insurance related charges. Included in this difference is your insurance deductible, up to $1,000.2

The deductible is paid as part of the deficiency balance and is therefore only paid if there is a "gap" to pay the loan.
The benefits of GAP Advantage
The following is a typical example of how GAP Advantage could work for you:
Original purchase price
Loan balance after one year
Insurance settlement covering vehicle's current value less deductible
Your remaining unpaid loan balance (the "gap")
Includes your deductible up to
GAP Advantage also provides you with the following credit towards the financing or lease of a replacement vehicle $1,000
Above loan calculation based on 60 month loan @ 6% APR
1) Eligibility. Please consult your financing representative to determine:
a) if all the collateral types listed in the brochure are eligible for GAP protection; or
b) if leases are covered by this plan.

If your vehicle is totaled or stolen and not recovered, you are eligible to receive an additional $1,000 credit toward the finance or purchase of a replacement vehicle if you finance your replacement vehicle with the same financial institution.

Did you know that if your vehicle is stolen or totaled in a major accident, your loss could add up to more than its value? As you might be aware, the value of any vehicle declines rapidly during the first few years of ownership. Most insurance policies, however, only cover the value of your vehicle at the time of loss, which means that the settlement you receive could be less than the amount you owe.

Now you can protect the value of your vehicle with Guaranteed Asset Protection Advantage (GAP Advantage). GAP Advantage covers the "gap" between the vehicle's value and the amount you still owe, including the insurance deductible.

It's a non-insurance product made available via a loan/lease deficiency waiver.

GAP Advantage can give you peace of mind by protecting you and your investment from substantial loss.