GAP & Warranty
Protection for ease of mind.
Protect Your Purchase
Red River Credit Union’s comprehensive suite of protection products keeps you covered for both the expected and unexpected costs of vehicle maintenance and repair. Knowing your vehicle is covered can go a long way toward a carefree ownership experience. Our products offer all the coverage you need to relax and enjoy the ride.
- GAP Protection - Close the gap between the cash value and your loan balance.
- Extended Warranty - Covers your vehicle’s mechanical and electrical components.
Click the title bars below for details and CONTACT US at any time during or after purchasing your new vehicle.
Protection Options
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GAP PROTECTION
What's GAP Protection?
GAP Protection is valuable coverage offered to car buyers as part of the auto loan process. GAP is a coverage that pays the difference between the actual cash value (ACV) insurance company settlement and the eligible balance of the member's loan in the event the vehicle is stolen or damaged beyond repair.
Here’s how GAP works
The buyer secures a loan for a vehicle; in the first two or three years, the vehicle depreciates in value faster than the loan balance declines. The vehicle is totaled in an accident or is stolen and unrecovered, the car buyer's insurance company may pay only the actual cash value of the vehicle. The actual cash value may NOT pay off the balance of your loan. The buyer is left with a GAP, an unpaid balance they still owe to the lender. A large financial burden in the event of a totaled or stolen and unrecovered vehicle. It's that simple! GAP could cover the unpaid balance!
What kind of vehicles can GAP cover?
Non-commercial autos and trucks one ton or less.
What does GAP cover?
- 60 day "free look"
- Autos, Non-Commercial Trucks (one ton or less) and SUVs the original loan amount is unlimited
- GAP coverage to $30,000
- Up to 150% of MSRP financing covered
- Up to 150% of NADA retail including add-ons
- Loan terms up to 84 months
- Pays the GAP difference between your loan balance and actual cash value (ACV) Auto Insurance settlement when an unrecovered theft or total loss occurs
CLICK HERE for the GAP Protection Brochure. CLICK HERE for Spanish version.
What does GAP Protection Cost?
A one-time fee of $595 for qualified autos
CONTACT US at any time during or after purchasing your new vehicle.
Insurance and financial services are available to credit union members but are not guaranteed or provided by Red River Employees Credit Union. Not NCUA insured.
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EXTENDED WARRANTY
Red River Credit Union is very excited to offer our members four different personalized Mechanical Breakdown Protection with ASG extended warranties. Some of the great benefits you’ll experience with these extended warranties include: a live operator answers all calls, emergency roadside service, lock-out assistance, and Rental Vehicle Assistance!
Choose from Four plans:
- Platinum Protection
- Gold Protection
- Silver Protection
- Copper Protection
CLICK HERE to see the brochure for all four plans. CLICK HERE for the Spanish version.
CONTACT US at any time during or after purchasing your new vehicle.