Guaranteed Asset Protection (GAP) Advantage

Closing the gap in protecting your current and future vehicle investment

Protect Your Wallet


  1. In most circumstances, a vehicle is worth a lot less the second it is driven off the lot.
  2. In more cases than not, the value of a vehicle rapidly declines during the first few years of ownership.

Unfortunately, both of these statements are True, which could lead to bad news for you and your wallet.

Since most insurance companies base their claim payments on the present value of your vehicle, your loan or lease balance could be higher than the value of your vehicle at the time your vehicle is stolen or totaled, which means you could be left owing a lot of money out of pocket to pay off the balance of your loan.

What is GAP Advantage?

Keeps You in the Driver’s Seat

Guaranteed Asset Protection, or GAP Advantage, is a voluntary, non-insurance program offered as protection on your financed vehicle. It enhances, rather than replaces, your standard insurance coverage. GAP waives the difference between your primary insurance company’s settlement and the payoff of your loan balance* in the event your vehicle is totaled or stolen and not recovered.

  • Includes your insurance deductible, up to $1,000.¹
  • Provides $1,000 credit towards the financing of a replacement vehicle financed or leased with Sierra Pacific FCU!²

Who Does GAP Advantage Protect?

GAP Advantage is designed for all drivers, whether you are financing or leasing a new or used vehicle. All of these vehicles may be eligible³:

  • Automobiles
  • Vans
  • Light trucks
  • Motorcycles
  • Boats
  • Travel trailers
  • Motor homes
  • Golf carts
  • Jet skis
  • Snowmobiles

How It Works

Here’s an example of GAP Advantage in action:

How To Get GAP Advantage?

You can add GAP to your Sierra Pacific FCU Auto or Recreational loan at the time of opening, or after the loan has been opened.

Contact your Loan Officer to discuss price and options for adding GAP Advantage to your loan.

*Up to a certain loan to value maximum, less exclusions or limitations that may apply. Loan-to-value maximum is determined by comparing the total amount originally financed to the vehicle’s value at the start of the loan.

¹Deductible waiver is available in most, but not all states. Please consult your financing representative for the availability of this benefit.

²GAP Advantage is available in most, but not all states. Replacement vehicle must be financed within a limited time from the date of loss. Please consult your financing representative for the availability and details of this benefit. 

³GAP Advantage is subject to limitations and exclusions, please consult your financing representative to determine if your vehicle is eligible for GAP Advantage.

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Sierra Pacific Federal Credit Union