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Protect your investment and your good name

A rate, term, and payment aren’t the only things you can get with your loans. We also have great add-on products that help you protect your vehicle, your budget, and your credit.

Guaranteed Asset Protection (GAP)

New cars, boats, RVs, and other vehicles lose the largest percentage of their value in the first year or two of ownership. That can be a problem if the vehicle is in an accident or stolen. When an insurance company declares a vehicle a total loss, they only pay off the amount of the loan equal to the value of the collateral. If the amount the insurance company pays is less than what’s left on the loan, the borrower is responsible for the remainder, which can be several thousand dollars.

Used cars aren’t immune to the difference, if you’ve rolled the negative value of a trade-in into your existing loan, you might be at risk, too.

In either case, GAP Advantage can help protect you from owing a big amount if your vehicle is totaled or stolen. GAP Advantage can waive the difference between the outstanding balance and any settlement amount up to 125% of the value of the vehicle.

In some cases, GAP Advantage can also provide you with $1,000 towards the purchase of a replacement vehicle, as long as you buy it within 90 days and finance the purchase with Seattle Credit Union. It can also reimburse you for up to $500 per loss of your auto deductible.

You can add GAP Advantage to your loan any time between funding and 18 months after. You can pay the one-time premium out of pocket or you can add it to the principal balance of your loan. If you don’t want to keep the coverage, you can cancel any time within the first 60 days.

Mechanical Breakdown Protection (MBP)

Car repairs can be expensive and can strain even the best budget. Extended warranties offered through the dealership can be expensive and don’t always cover the repair you need. Seattle Credit Union offers Mechanical Breakdown Protection (MBP) to you manage the repairs and maintenance that come with owning a car at prices that are lower than you might find at the dealer.

There are three levels of MBP, depending on the age and mileage of the vehicle. Some come with Emergency Roadside Assistance and rental car reimbursement. You can finance the cost of MBP into your loan or pay the premium out of pocket. When you sell your car, any remaining coverage can be transferred to the new buyer.

Debt Protection

When you get sick or hurt and can’t work, loss of income can be one of many concerns. You may have a long road of recovery ahead and there could be expenses related to your illness or injury, you’ll have to deal with. Those expenses combined with not getting a paycheck can take a bite out of your savings and leave you with questions as to which bills to pay.

That’s why we offer Debt Protection as an add-on service for most of our loans. With Debt Protection, you’ll have a small, monthly premium added to your loan. If you are faced with a covered illness or injury and can’t work, Debt Protection will make your payment for each of your covered loans until you can return to the job. In some cases, Debt Protection even covers involuntary unemployment. If the worst happens, and you or a covered spouse die because of an accidental injury, Debt Protection will pay the outstanding balance of your covered loans.

The small cost of premium can be well worth the peace of mind you get.

Talk to a loan representative at or stop by any of our branches to learn more about GAP Advantage, Mechanical Breakdown Protection, and Debt Protection.

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