Optional Guaranteed Asset Protection (GAP):
In the first few years of ownership, your loan balance may be higher than the value of your vehicle, especially if you put down a minimal or no down payment.
If your vehicle is totaled in an accident or stolen and not recovered, the insurance settlement is based on the actual cash value, not the outstanding loan balance. This could create a loan “gap”—money you owe on the loan after the insurance company pays its portion. GAP* may cover the difference between the outstanding loan amount and the actual cash value.
Enroll Today!
Ask for GAP when you apply for any VECU Auto Loan. If you already have an Auto Loan, Contact Us to get a quote.
*Certain exclusions may apply. This product is provided to members through an independent company for the benefit of Virginia Educators Credit Union members.
Optional Vehicle Service Contract
Virginia Educators Credit Union works with other companies to provide products that benefit our members. We currently provide Vehicle Service Contracts to members through Vision Warranty Corporation when they apply for a loan with VECU.
There is always a chance of having a mechanical breakdown with any vehicle. Mechanical issues can be very expensive to repair. A Vehicle Service Contract through Vision Warranty Corporation will add protection against the unexpected high cost of vehicle repairs, and in some cases eliminate the cost altogether.
Your coverage may include all or some of the following benefits:*
- Wear and Tear Coverage
- One Deductible Maximum per Visit
- Rental Car Reimbursement
- Trip Interruption Expense Reimbursement
- Manufacturer’s Deductible Reimbursement
- Roadside Assistance Services Including
- Towing/Wrecker Service
- Gasoline Delivery
- Flat Tire Change
- Battery-Jump Service
- Lockout Services
- Concierge Services
Visit www.visionwarranty.net for more information on the different levels of coverage available.
Apply Today!
Ask about a Vehicle Service Contact when you apply for any VECU Auto Loan. If you already have an Auto Loan or if your vehicle is already paid off, Contact Us to get a quote.
*Certain exclusions may apply. This product is provided to members through an independent company for the benefit of Virginia Educators Credit Union members.
Optional Credit Life and/or Disability Insurance
For your protection, optional Credit Life and Credit Disability Insurance underwritten by CMFG Life Insurance Company is available for VECU members.* These products are voluntary and are not required to obtain credit. The cost may be less than you would pay for similar insurance elsewhere.
You can apply for one or both types of coverage for all loans and lines of credit except for credit cards and home equity lines of credit.
Credit Life Insurance:
Credit Life Insurance for loans reduces or pays off a loan balance (up to the policy limits) in the unfortunate event that you pass away before your Virginia Educators Credit Union loan is repaid. You must be under age 70 to select this coverage.
Credit Disability Insurance:
If you become totally disabled due to a covered accident or illness, Disability Insurance for loans generally makes payments (up to the policy limits) on your loan with Virginia Educators Credit Union. You must be under age 66 and working for wages for a minimum of 25 hours a week to select this coverage.
Ask about Credit Life and Disability Insurance when you apply for a loan with Virginia Educators Credit Union. Contact Us for addition information about Credit Life and/or Disability Insurance.
*Certain exclusions may apply. This product is provided to members through an independent company for the benefit of Virginia Educators Credit Union members.
