Loan Payment Protection Policies

A vehicle is one of the biggest financial investments in your life. You have a warranty and auto insurance for peace of mind, but they may not go far enough to protect your investment. That’s why we’re pleased to offer GAP and Warranty services to extend that protection.

Guaranteed Asset Protection (GAP)

Sometimes when a vehicle is stolen or totaled in an accident, the vehicle owner is stuck paying the difference between the value of the vehicle and what is still owed on the vehicle. Guaranteed Asset Protection (GAP) helps protect against the financial hardships of falling into this “gap,” because it’s designed to cover the difference in the vehicle value and the balance of your loan.

Guaranteed Asset Protection  Advantage (GAP Advantage)

GAP Advantage waives the difference between your primary insurance company’s settlement and the payoff of your loan balance up to a certain loan to value maximum*.  GAP Advantage also provides you with a $1,000 credit towards the financing of a replacement vehicle financed or leased with Coca-Cola Credit Union.


What Does GAP with Auto Deductible Reimbursement Cover?

GAP was designed for all drivers, whether you finance or lease a new or used vehicle. It covers cars, vans, light trucks, motorcycles, boats, motor homes, golf carts, jet skis, and almost any other vehicle. GAP coverage goes into effect when you need it most – when your vehicle is stolen and isn’t recovered or is totaled in an accident and can’t be repaired.

GAP covers the difference between your primary carrier insurance settlement and the payoff of your loan or lease up to 125% of current retail value, less delinquent payments, late charges, refundable service warranty contracts, and other insurance related charges. Included in this difference is your insurance deductible, which is limited to $1,000*.

The Auto Deductible Reimbursement Program pays up to $500 per loss (unlimited losses per year) when a claim is filed and paid by the Auto Insurance Company for a covered auto that the member owns or leases evidenced by the title, registration, or loan document AND insured under an Auto Insurance Policy designating the member as the named insured.

Extended Warranty Coverage

Extended Warranty coverage for your vehicle picks up where manufacturers’ warranties end and is less expensive than many other extended warranty options. It’s available for newer as well as older vehicles, even if you didn’t finance your vehicle with us. Some features of our Extended Warranty Service include:

  • No deductible for covered parts and labor
  • Nationwide coverage
  • 24 hour/7 days a week Emergency Roadside Service, including:
    • Towing & Lock-Out Service
    • Flat-tire assistance
    • Battery Jump-starting
  • Fully transferable if you sell the vehicle
  • 30-day money back guarantee
  • Honored at any ASE Certified repair facility
  • Major mechanical expenses
  • All warranties are fully insured
  • All plans have a $0 deductible
  • Total loss refund (100% of premium for totaled vehicle)

Ready to Get a Quote?

Click here to get a quote for either a GAP or Extended Warranty Coverage loan.

For pricing information or to add GAP coverage to your vehicle loan purchase, contact a Member Service Representative at, or call 404-676-2586 inside Atlanta, 877-277-2586 outside Atlanta.

*Less exclusions or limitations that may apply.**Your purchase of GAP coverage is optional. Whether or not you purchase this product will not affect your application for credit or the terms of any existing credit agreement you have with us. GAP, GAP Advantage and Extended Warranty coverage are voluntary programs and members are not obligated to participate. The Credit Union assumes no liability for services rendered.




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