Can you imagine having a car that you financed declared a sum personnel casualty because of an accident or larceny but still having to make payments on the loanword ? No one wants to make payments on a cable car they no longer own but unfortunately, we ’ ve seen it happen to our members. Most people think if policy states a total loss that they get a newly car and move on. not thus easy if you owe more on the lend than it is actually worth .
This is where GAP insurance becomes authoritative. GAP covers the “ gap ” between the remaining balance of your car loan and the value as determined by your insurance company. insurance is only responsible for paying the commercialize value of the cable car, which can be far less than what you owe and that can put you in a situation where you are “ upside down ” on your loanword .

Here’s when GAP can be helpful:

  1. Little or no down payment. If you don’t make a large down payment, you’ll be upside down the moment you drive your new car off the lot. And if you bundle the cost of taxes and registration into your loan, it could take even longer to break even.
  2. Loan rollover. If you trade in an upside down car, the dealership will roll the balance into the next loan and cause you to be even more upside down on the next vehicle.
  3. No resale value. If the car you are purchasing does not retain its value, you could be upside down unless you put 25% or more down.
  4. Lots of miles. If you plan to rack up the miles fast, this can drop your car’s value very quickly, which may cause the value to drop below loan value.
  5. Long loan term. A longer loan term means it takes longer for the loan balance to meet the actual value.

If you need GAP, Members Trust has you covered.

extend Warranties may besides be a chic addition to your new cable car buy. An extend guarantee protects you from the unexpected price of mechanical repairs after your manufacturer ’ sulfur guarantee expires.

Extended Warranty Benefits:

  1. Cars are complicated. We all know that cars are very complex. The technology packages are amazing but they come with added complexities and higher risk for breakdowns. With rising repair costs, it’s smart to protect yourself from costly repairs, especially with complex tech packages.
  2. Protect your budget. Buyers are keeping their cars longer than ever before so it’s very likely that the manufacturer’s warranty will expire while you still own the car. Breakdowns happen and repairs are expensive. An extended warranty helps protect your monthly budget from costly repairs.
  3. Added Peace of Mind. Car repairs are stressful and disrupt your routine. A good extended warranty will provide towing services and a rental vehicle to get you back on the road again.
  4. Greater Car Value. A vehicle with an extended warranty is more likely to be well maintained and in good working order. As a result, it may get you a higher trade-in or resale value when you are ready to move on.

Let ’ s font it – vehicles are expensive so protect your investment ! Let us provide a price for an prolong guarantee so you can compare to dealership price .
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