If your vehicle is totaled or stolen, the amount you receive from your insurance company may be significantly less than the outstanding balance on your loan. This may create a deficit balance or a "GAP" resulting in serious financial hardship for you. Guaranteed Asset Protection or "GAP" protection is designed to pay the deficit, the difference between what your insurance company determines what you vehicle is worth and the outstanding balance on your loan. See the chart below for an illustration of what the deficit may be.

The GAP Protection offered through Parsons Federal Credit Union will not only pay the deficit on your loan balance if your covered vehicle is totaled or stolen, it will also pay your insurance deductible up to $1,000 and will pay up to an additional $1,000 towards the purchase price of your new vehicle is you finance it through Parsons Federal Credit Union.

All this for the low, total cost of $250, which can be added to your loan! This protection is available for new and pre0owned vehicles, and may be purchased at anytime during the term of your loan.

Contact us today to take advantage of this valuable protection today!