Did you know that vehicles depreciate as soon as they are driven off the car lot? A vehicle's actual cash value depreciates faster than you can pay the loan off. The reality of this statement comes to light when your vehicle is totaled or stolen and the insurance company only gives you the actual cash value for your vehicle and not what you owe on your loan. This is where GAP comes into play. GAP (Guaranteed Asset Protection) Advantage is a non-insurance product and is made available to members via a loan/lease deficiency waiver that covers the "gap" between the vehicle's value and the amount you still owe. You can purchase it when you finance your new or used vehicle with ASI FCU. If the vehicle you are now purchasing ever becomes "totaled" or is stolen and not recovered, GAP Advantage pays an additional $1,000 toward the purchase or lease of a replacement vehicle. So not only will you receive the difference between the value of your vehicle and its unpaid loan or lease balance, but you get a good head start on financing or leasing a new or used replacement vehicle when you re-finance or lease through ASI FCU.

For more information on the GAP Advantage, call 504-733-7274 or 1-800-749-6193.