What is Guaranteed Asset Protection (GAP) Insurance?
GAP Insurance is optional vehicle loan protection for what auto insurance may not cover for a wrecked vehicle.
If your vehicle is deemed a total loss due to an accident or is stolen, there can be a significant gap between what you owe on your loan and what your auto insurance will cover. GAP may reduce or even eliminate that shortfall in the event your vehicle is deemed a total loss.
The GAP Insurance offered by Merck Employees FCU also reduces your next auto loan at the credit union by $1,000.
Have questions? Want to Talk? Click here to schedule a consultation with a loan officer.
*Please be advised that the credit union charges a $125 processing fee for lease buyouts and refinancing your current vehicle loan from another financial institution.
Looking for vehicle insurance? Check out the exclusive rates from TRUSTAGE for Merck Employees FCU members.
Current Rates*
| Term | ANNUAL PERCENTAGE RATE |
|---|---|
| 24 months | 5.35% |
| 36 months | 5.35% |
| 48 months | 5.60% |
| 60 months | 5.85% |
| 72 months | 6.10% |
| 84 months | 6.35% |
*Rates presented are the lowest rates available. Other rates and terms available based on vehicle, term and creditworthiness.
