Construction Loans


Mechanical Breakdown Insurance & GAP

As a member of Plus 4 Credit Union, you can take advantage of affordable insurance and vehicle warranty programs that will keep you and your family covered. Peace of mind and added security - That's what you get with our special Auto Warranty Services, Credit Disability and Credit Life Insurance plans.

Whether you own a new or used vehicle, as a member with PLUS4 financing you can take advantage of this valuable Mechanical Breakdown Warranty Protection. Plus, auto repairs are covered by your choice of mechanic.

Items covered include these component parts: engine, transmission, drive axle assembly, front and rear suspension, steering, air conditioning, brakes, electrical, and interior/exterior appointment group component parts - essentially all the parts that are the most expensive to repair.

Just look at all the other benefits included:

  • Towing - up to $75 per covered MBI
  • Rental Car benefits - $35 a day per covered MBI.
  • Trip interruption benefits - up to $225 (3 days at $75 per day for food and lodging)
  • Tire protection - up to $125 per breakdown or $500 aggregate
  • The deductible is low - $0 to $200. Warranty protection can be built into your loan document or may be purchased for cash at loan closing.

GAP -Guaranteed Asset Protection provides protection for the difference (GAP) between the primary insurance settlement and the loan balance of new or used autos in the event of loss. Designed to eliminate unpaid loan balance in the event your auto is stolen or damaged beyond repair, portions not covered by proceeds from primary insurance may be protected.

The fee can be included in your loan payment, on new or refinanced loans, this extra protection is available for new, used, private passenger autos and light duty trucks.

Your purchase of MEMBER'S CHOICE™ Guaranteed Asset Protection (GAP) is optional and will not affect your application for credit of the terms of any credit agreement you have with Us. Certain eligibility requirements, conditions, and exclusions may apply. You will receive the contract before you are required to pay for GAP. You should carefully read the contract for a full explanation of the terms. If you choose GAP, adding the GAP fee to your loan amount will increase the cost of GAP. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid.