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Insurance Services

Helping Bridge the GAP

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You rely on your car for many things – getting you to and from work, taking your kids to school and soccer practice, and enjoying those memorable family road trips.

When you’re buying a new or used vehicle, you may not realize that even the best insurance may not cover the entire amount you owe on your auto loan. In fact, if the average new car buyer has their vehicle stolen or damaged beyond repair, they could still owe thousands of dollars even after the insurance settlement.

Here’s the hard truth: Since a vehicle’s value declines as a result of depreciation, the loan balance can be higher than its actual cash value (. Without GAP Advantage, you are responsible for paying the difference, or the “gap,” between the insurance settlement and the outstanding loan balance in the event your vehicle is stolen and not recovered, damaged beyond repair, or otherwise declared a total loss.

In most cases, GAP makes up the difference between what insurance covers and the amount you still owe. As an added benefit, GAP Advantage will help you get back on the road more quickly by providing a $1,000 allowance to finance a replacement vehicle with Kinecta Federal Credit Union.

Download our complete GAP Advantage brochure

How GAP works - A typical example
Lets say that you owe $14,000 on your vehicle and you total it, beyond repair, in an accident. After subtracting your deductible, the insurance company awards you $11,000 for damages.

Your loan balance $14,000
Your insurance company pays $11,000

WITHOUT GAP, you could suffer a $3,000 out-of-pocket expense. WITH GAP ADVANTAGE, not only would your $3,000 remaining loan balance be paid, but an additional $1,000 would be provided towards the financing of a replacement vehicle with us.

Your total benefit with GAP:

Remaining unpaid loan balance $3,000
Gap Advantage Benefit $1,000
Total Benefit to help settle existing loan and to finance a new vehicle $4,000

When can you get the GAP Advantage?
GAP Advantage can be added at the time of financing an automobile, van, light truck or SUV, and it can also be added to eligible vehicles financed within the past 12 months.


Contact us
Call us at 800.854.9846, Option 5, to discuss how Kinecta’s GAP Advantage can help protect you.


Your purchase of GAP is optional. Whether or not you purchase GAP will not affect your application for credit or the terms of any existing credit agreement you have with Kinecta. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under GAP. You should carefully read the contract for a full explanation of the terms.




Guaranteed Asset Protection is not a product of Kinecta Federal Credit Union.
Product is administered by Southwest Business Corporation (SWBC)..