GAP Insurance

Covers What Your Car Insurance May Not.

If your new vehicle is totaled or stolen, your primary insurance will usually pay the current market value of your vehicle, less your deductible. If the actual cash value is less than your current loan amount, the result could be a financial gap where you must pay the difference between your loan balance and your insurance settlement. This could mean thousands of dollars out of your pocket. Help eliminate this possible out-of-pocket burden with GAP Insurance!

Cover the Gap

Enjoy Peace of Mind

GAP Insurance Perks and Benefits

Your new car becomes a used car as soon as you drive it off the lot. If the value of your car is less than the balance of your auto loan, you’re “upside down” and there's a gap that isn’t covered by standard auto insurance. Peach State’s Guaranteed Asset Protection (GAP) Coverage helps ensure peace of mind that you won't continue to owe for a vehicle you can’t drive.

Flexible Cover your auto, motorcycle, truck, watercraft, or RV.
Affordable Pay a one-time premium that may be paid in full or financed along with your vehicle.
Peace of Mind Know you have financial help if your vehicle becomes totaled or stolen.
Added Benefit Coverage also includes a $1,000 Auto Deductible Reimbursement.¹

Limitations and exclusions may apply. GAP Insurance products are not products of the credit union and are not obligations of or guaranteed by the credit union. GAP Insurance is offered through Assurance Plus Claims. The credit union makes no representations as to the services of any provider. For details about coverage and costs, please visit one of our convenient branch locations or contact us.

1 The Auto Deductible Reimbursement will pay up to $1,000 per loss (unlimited losses per year) when a loss is filed and paid by your auto insurance company for a covered auto that you own or lease as evidenced by the title, registration or loan document. It insures your auto under an Auto Insurance Policy designating you as the named insured. Filing your claim is simple and easy – just call 877.296.4892 or visit Assurance Plus Claims to get started!

How GAP Coverage Works

Amount you owe on your auto loan: $20,000
Your car's "actual cash value" at the time of loss: $15,000
What the insurance company pays after the deductible: $14,500
(calculation assumes a $500 deductible)
GAP helps waive: $5,500

Do You Need Gap Insurance?

A vehicle starts depreciating as soon as you buy it, but never more than when you drive it off the lot – turning it from a "new" vehicle to a "used" vehicle.

To estimate the anticipated depreciation and potential GAP risk, please contact Peach State and ask to receive a GAP Risk Illustration through the VisualGAP system.

Loan Protection Products

Debt ProtectionCancels/waives all or a portion of your loan balance when...

DEBT PROTECTION

Debt protection coverage cancels/waives all or a portion of your loan balance when a specified protected event occurs (death, total disability, or involuntary job loss), which helps provide you with financial protection and peace of mind. Limitations and exclusions may apply. For details about coverage and costs, please contact us.
Extended Vehicle WarrantyExtended Vehicle Service Contracts available through Auto Exam administered by Vision Warranty Corporation
EXTENDED VEHICLE WARRANTY

Peach State offers our members Extended Vehicle Service Contracts through Auto Exam administered by Vision Warranty Corporation for your auto, truck, or van to protect against expensive, unexpected repair costs. This warranty is typically more affordable than those offered at a dealership and covers most major components in the event of a breakdown. It also offers no-hassle direct payment to the repair facility, and your one-time premium can be financed with your vehicle loan.

Extended Warranty Features
- Coverage for vehicles up to 11 years old with up to 200,000 miles on the odometer
- Multiple deductible options available: $0, $50, $100, $200
- Trip interruption coverage
- Repair work may be performed at dealerships, franchised repair facilities, or independent repair facilities
- Claims paid directly to the repair facility
- Service contracts are valid in the United States and Canada
- Contracts are transferable in the case of a private vehicle sale
- Full open enrollment: a contract may be purchased at any time as long as the vehicle meets mileage and age requirements
- 60 day free look period
To learn more or to get an Extended Vehicle Warranty, contact a Peach State loan representative or Auto Exam directly at 800.706.5792.

DEBT PROTECTION

Debt protection coverage cancels/waives all or a portion of your loan balance when a specified protected event occurs (death, total disability, or involuntary job loss), which helps provide you with financial protection and peace of mind. Limitations and exclusions may apply. For details about coverage and costs, please contact us.

EXTENDED VEHICLE WARRANTY

Peach State offers our members Extended Vehicle Service Contracts through Auto Exam administered by Vision Warranty Corporation for your auto, truck, or van to protect against expensive, unexpected repair costs. This warranty is typically more affordable than those offered at a dealership and covers most major components in the event of a breakdown. It also offers no-hassle direct payment to the repair facility, and your one-time premium can be financed with your vehicle loan.

Extended Warranty Features

Coverage for vehicles up to 11 years old with up to 200,000 miles on the odometer
Multiple deductible options available: $0, $50, $100, $200
Trip interruption coverage
Repair work may be performed at dealerships, franchised repair facilities, or independent repair facilities
Claims paid directly to the repair facility
Service contracts are valid in the United States and Canada
Contracts are transferable in the case of a private vehicle sale
Full open enrollment: a contract may be purchased at any time as long as the vehicle meets mileage and age requirements
60 day free look period

To learn more or to get an Extended Vehicle Warranty, contact a Peach State loan representative or Auto Exam directly at 800.706.5792.

3 Free Templates!

Budgeting Templates

Stay in control of your finances! These budgeting templates make it easy to stay on top of your monthly spending and create good habits.

Fillable online
Calculates in real-time
Easy to use and understand

Frequently Asked Questions

These are a few of the commonly asked questions about our Auto Loans.

For even more FAQs, check out our Member Knowledge Base.

Peach State does not always require a down payment for vehicle loans. Whether you need to make a down payment will depend on your application.

Peach State is located in Georgia and South Carolina. If you’re purchasing from outside of these states, then you’ll need to contact us to review the request.

Can I skip a payment on my loan?

Yes, members can skip up to two payments on each loan per calendar year for a small processing fee. Terms do apply.