What is GAP?

If the value of your car is lees than the balance of your auto loan, you're "upside down," and there is a gap that is not covered by standard insurance. This difference requires a special type of protection called GAP.

Do you need GAP protection?

A car starts depreciating as soon as you buy it, but never more than when you drive it off the lot  - turning it from a "new" car to a "used" car. To estimate the anticipated depreciation and potential GAP risk, please contact your IFCU loan representative and ask to receive a GAP Risk Illustration through the VisualGAP system.

GAP Benefits:

  • IFCU offers one the lowest GAP costs in the area.
  • Protects against financial loss in the event of unrecovered theft of the vehicle or if the vehicle is declared a total loss.
  • There are no model or year limitations.
  • Protection up to $100,000 – limited exclusions apply.
  • Debt may be protected up to $50,000.
  • Deductibles may be covered up to $1,000.
  • Coverage is available for the term specified in the agreement, up to 84 months.
GAP is available to any IFCU member who is purchasing a vehicle or in the process of refinancing from another financial institution. This coverage terminates at the maturity date of the loan, or can be cancelled within a certain time period.

Please consult with an IFCU representative to learn more about the specific terms and conditions involved with GAP.

You are about to visit web.baconpay.com

You are leaving the Industrial Federal Credit Union website. The website you are linking to is not operated by Industrial Federal Credit Union. We are not responsible for any content or information posted to this external website. Industrial Federal Credit Union is not responsible for, nor do we represent you or the external website if you enter into any agreements.

Privacy and security policies may differ between our website and this external site.