Auto Warranties and Insurance
Mechanical Breakdown Protection
Mechanical breakdown protection covers major failures that can occur in your car, which are often excluded in basic auto insurance. Whether it’s bad brakes, transmission issues, the electrical system, or any other major vehicle system malfunction, mechanical breakdown protection can cover those repairs.
True Sky Credit Union offers 3 different levels of protection through our Mechanical breakdown insurance.
They are Easy Street, First Street, & Main Street.
Guaranteed Asset Protection Advantage
GAP ADVANTAGE KEEPS YOU IN THE DRIVER’S SEAT.
Guaranteed Asset Protection Advantage, or GAP Advantage, is a voluntary, non-insurance program offered as protection on your financed vehicle to enhance, rather than replace, your standard insurance coverage. It waives the difference between your primary insurance company’s settlement and the payoff of your loan balance up to a certain loan to value maximum, less exclusions or limitations that may apply. The loan to value maximum is determined by comparing the total amount, originally financed to the vehicle’s value at the start of the loan. Included in this waiver is your insurance deductible, up to $1,000.1
GAP Advantage also provides you with a $1,000 credit towards the financing of a replacement vehicle financed or leased with our financial institution!2
GAP Advantage is designed for all drives, whether you are financing or leasing a new or used vehicle. Automobiles, vans, light trucks, motorcycles, boats, travel trailers, motor homes, golf carts, jet skis, and snowmobiles may be eligible.3
How It Works
The following is an example of GAP Advantage in action:
Your financed vehicle is totaled beyond repair…
Your Loan balance is | $15,000 |
Your insurance company settlement is | $10,000 |
based on your vehicle’s market value | $11,000 |
less your insurance deductible | $1,000 |
Loan balance remaining without protection | $5,000 |
Loan balance remaining with protection | $0 |
Plus $1000 credit towards the financing of your replacement vehicle when financed through our institution!