GAP/MRC

What is Member’s ChoiceTM Guaranteed Asset Protection Plus (GAP PLUS)?

It’s a way to help protect your vehicle loan. Many times primary auto insurance settlements don’t pay off your loan balance. When you buy a new or used vehicle, there’s no way to know if it will be stolen or totaled in an accident. With MEMBER’S CHOICE Guaranteed Asset Protection Plus*, you’re protecting your vehicle investment against a possible financial loss.

What is Mechanical Repair Coverage (MRC)?

SouthPoint offers Mechanical Repair Coverage (MRC) which helps pay for covered repairs on your car when that unexpected breakdown occurs. For a few dollars per month, you can protect your vehicle and your finances from expenses that could total hundreds or even thousands for dollars.

Purchasing Mechanical Repair Coverage for a vehicle that is still covered by the manufacturer’s warranty provides you with the most convenient, cost-effective way to endure uninterrupted protection and peace of mind if you own the vehicle after the manufacturer’s warranty expires.

To find out more about either of these two products, contact your loan officer at 877-794-6712 or fill out the form below and a loan officer will contact you.

Disclosures

*Your purchase of MEMBER’S CHOICETM Guaranteed Asset Protection (GAP) is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of GAP. If you choose GAP, adding the product fee to your loan amount will increase the cost of GAP. You may cancel the protection at any time. If you cancel protection within 90 days you will receive a full refund of any fee paid. You will receive additional information before you are required to pay the fee for this product.

** MEMBER’S CHOICE® Mechanical Repair Coverage is administered by Consumer Program Administrators, Inc. in all states except AK and CA, where coverage is administered by Virginia Surety Company, Inc., in WA, where coverage is administered by Automotive Warranty Services, Inc., in FL, LA , OK and WI, where coverage is administered by Automotive Warranty Services of Florida, Inc. (Florida License #60023) and in AZ, where the Obligor and Administrator is Consumer Program Administrators, Inc., all located at 175 West Jackson Blvd., Chicago, Illinois 60604, 1-800-752-6265. This coverage is made available to you by CUNA Mutual Insurance Agency, Inc. In those states where MEMBER’S CHOICE® Mechanical Repair Coverage is offered as insurance (form MCCU-001-MBI) it is underwritten by Virginia Surety Company, Inc.

What is Member’s ChoiceTM Guaranteed Asset Protection Plus (GAP PLUS)?

What is Mechanical Repair Coverage (MRC)?

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