Optional Protection Products

Our Optional Protection Products can be used on your 360FCU Consumer Auto, Motorcycle Loans and Miscellaneous Secured Loans 

 

 

Guaranteed Asset Protection (GAP)

Guaranteed Asset Protection Advantage, or GAP Advantage, is a voluntary, non-insurance program offered as protection on a new or used vehicle that is financed. It is a supplemental benefit that enhances, rather than replaces, your standard comprehensive, collision, or liability coverage.

Did you know in the event of a total loss, you could be liable for paying off the remaining loan balance on a vehicle that is no longer drivable? Bridge the gap between the difference in what you owe on your vehicle and how much the insurance company decides it is worth.

GAP Advantage is available almost any new or used vehicle such as:

  • Automobiles
  • Vans
  • Light trucks
  • Motorcycles
  • Boats
  • Travel trailers
  • Motor homes
  • Jet ski
  • Snowmobiles

GAP Advantage protection goes into effect when you need it most – your vehicle is stolen and isn’t recovered or totaled in an accident and can’t be repaired. GAP Advantage waives the difference between the payoff of your loan, less delinquent payments, late charges, refundable service warranty, and other insurance related charges1.   GAP Advantage also provides you with a $1,000 credit towards the financing of a replacement vehicle if financed with 360 Federal Credit Union.

  • Eligibility- Please consult your financing representative to determine: if all the collateral types listed in the brochure are eligible for GAP protection.
  • 1.  Subject to limitations and exclusions including a maximum loan-to-value limitation which may cap the benefit you receive.

 

Route 66 Warranty or Mechanical Breakdown Protection (MBP)

No matter where your vehicle is financed, you can now come to us for an extended warranty through our business partner, Route 66. They have a complete line of coverage designed to keep your vehicle on the road. The average cost for a major vehicle repair is about $2,000.  Are you prepared for the inconvenience and cost of an unexpected mechanical or electrical failure of your vehicle?

With 3 comprehensive plans, you can be covered against major mechanical expenses with no deductible on covered parts and labor. All the plans come with Rental Car Allowance and 24/7 Emergency Roadside Service.

  • Towing
  • Flat Tire Assistance
  • Battery Jump Starting
  • Lock-out Service
  • Minor Adjustment

If you’re a holder of a Route 66 protection plan, when repairs are necessary or questions arise, simply call them prior to repairs and they will take care of it from there.

  • No Deductible
  • Nationwide Coverage
  • 24/7/365 Emergency Roadside Assistance
  • 30 Day Money-Back Guarantee
  • Transferable
  • Direct Payment Visa®/MasterCard®

The information contained here is not intended to provide in depth information about all plans available. It only provides a basic overview of the Route 66 plans. Complete terms and provisions are contained within each Service Agreement. Please read for complete details.

 

 

Debt Protection

Life is unpredictable. There are a wide range of unexpected events that could leave you and your family scrambling to pay monthly bills. In the event of death or disability you wouldn’t want your family to worry about making your loan payments.

With Debt Protection, your loan balance may be canceled, or your monthly payments will be canceled without penalty or added interest.

Debt Protection is available for closed-end consumer loans and credit cards.

You may cancel Debt Protection at any time. If you do so within the first 30 days, we will refund any fees already paid.

We have designed our Debt Protection program to fit the times we live in today. More than ever, we all worry about things that might happen tomorrow. Debt Protection provides an important sense of financial security – knowing your loan will not become a burden to you in times of hardship.

 

To learn more about our optional protection products, contact your loan officer or call our Virtual Branch at 860-627-4200.