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GAP and DPW

Protect your ride's value with GAP and DPW. 

Ready for a crash course in insurance policies? Cars, pickups and SUVs nose-dive in value the moment you drive them off the dealer's lot. And so if your vehicle is stolen or damaged beyond repair in an accident, there's a good chance your insurance company will offer you less - maybe far less - than what you still owe on your auto loan.
 
Our GAP and DPW are companion products that can protect your vehicle in the event of total loss. Talk with one of our loan officers to find the right option for you. 
 

GAP (Guaranteed Asset Protection)

  • Covers the difference between your insurance settlement and your current loan balance.
  • For example, if you still owed Integra First $25,000 on your car, and your insurance company offers just $20,000, GAP would cover the remaining $5,000.
  • That means that you don't have to keep making out-of-pocket loan payments on a vehicle you no longer own.
  • The modest cost of GAP can conveniently be rolled into your monthly vehicle loan payment, meaning you don't have to write an extra check or make a separate online payment.
  • You can get GAP coverage for new or used vehicles, and you can add GAP at any time before your loan is paid off.
  • GAP Advantage also provides you with a $1,000 credit towards the financing of a replacement vehicle financed with our financial institution!
  • Ask our loan officers about GAP by calling our team at (833) 694-6834, option 2.   

Our GAP program includes Auto Advantage.

When you purchase GAP from us, the primary borrow and/or the co-borrower also gets Auto Advantage, which includes Auto Deductible Reimbursement (ADR) at no additional cost. 

ADR Requirements are simple:

  • All vehicles are covered that are owned (according to title, registration, or loan documents) and insured by the primary borrower and/or co-borrower.
  • Only four-wheel, non-commercial passenger vehicles (cars, trucks, vans) are covered. ADR does not cover motorcycles, boats, and RVs.
  • A claim can be filed if the paid claim exceeds the borrower’s deductible and has been approved and paid by the borrower’s primary auto insurance. This includes comprehensive and collision claims and requires repairs to be made.

Depreciation Protection (DPW)

  • Protects the positive equity in your vehicle in the event it's totaled or stolen. 
  • For example, you purchased your vehicle with a large down payment and have built $7,000 in equity. You still owe $8,000 on your loan. 
  • However, you get into an accident and total your car. Without DPW, your insurance settlement pays off the loan, but the equity you've built could be lost. 
  • With DPW, you receive a $7,000 waiver benefit that recoups the equity you've built in your vehicle.
  • Eligible on cars, trucks, and vans with MSRP/JD Power Retail value up to $100,000.
  • No mileage/year restrictions.
  • Available for refinances. 
  • Cancels up to $1,000 of the loan balance in the event of an accidental death.
  • Coverage can be purchased at any time. 
  •  Ask our loan officers about MBP by calling our team at (833) 694-6834, option 2. 










*This is general information only. GAP and DPW is not insured by NCUA. It is not underwritten, issued, or guaranteed by NCUA or any other federal government agency. GAP and DPW are optional and there is no requirement to purchase them as a condition of a loan. Whether you decide to purchase GAP/DPW or not will not affect your application for credit or the terms of any credit agreement you have with us. If you purchase GAP/DPW, adding the fee to your loan will increase the cost. Please refer to your actual GAP/DPW Waiver Addendum for terms, conditions, coverage, limitations, and restrictions. GAP/DPW is not an insurance policy and does not replace or eliminate the need for vehicle insurance coverage. There are exclusions and limitations for items like delinquent payments, late charges, refundable items, and financing more than the allowable Loan to Value (LTV%) limit that could leave you responsible for a loan balance after the GAP/DPW benefit is applied to your loan. You may cancel GAP/DPW during the first 60 days and receive a full refund of any fee paid. GAP/DPW is non-refundable in most states after the first 60 days.
 
Integra First Federal Credit Union is a full-service financial institution serving select counties in Michigan’s Upper Peninsula and Northeast Wisconsin.