Consumer Loan Payment Protection

Protect your vehicle investment with Guaranteed Asset Protection (GAP). If your new or used vehicle is stolen or involved in an accident, GAP can shelter you from a potential loan deficiency by covering the "gap" between the value of your vehicle and the amount you owe on the loan. GAP is designed for all drivers, whether you finance a new or used vehicle and covers automobiles, vans and light trucks.

GAP covers the difference between your primary insurance company's Actual Cash Value determination and the payoff of your loan.¹ Delinquent payments, late charges, refundable service warranty contract, other insurance-related products and interest charged after the date of loss will be deducted from the GAP settlement.
 
Should you suffer a total loss or unrecoverable theft, GAP provides an additional benefit of $1,000 toward the down payment for your replacement vehicle. To qualify for this benefit, the replacement vehicle must be financed with San Diego County Credit Union within 90 days of the date of loss.
 
Ask for GAP when you apply for an auto loan.

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Mechanical Breakdown Insurance (MBI), commonly referred to as an extended warranty, is designed to protect you from the high cost of repairing mechanical components due to mechanical failure.² All of our plans feature no deductibles. Your out-of-pocket expenses are limited to replacement fluids and sales tax on parts.

There are three plans available and eligibility is based on the year and mileage of the automobile. All plans reimburse the repair facility for the cost to repair a covered mechanical breakdown, less the replacement fluids and sales tax.

Additional protection on all plans includes:

• 24-Hour Roadside Assistance
• Car Rental
• Safe and Secure Package

MBI may be included in your auto loan payment or purchased separately for any vehicle financed with SDCCU. Call us at (877) 732-2848 or visit one of our convenient branch locations for program specific details and more information.

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Payment Protection³ for SDCCU Visa^® credit cards, auto/motorcycle loans and signature loans is a non-insurance product that may cancel your outstanding loan balance or your monthly payment in the case of a tragic event such as death, disability or involuntary unemployment⁴.

When faced with an unexpected event, Payment Protection can provide peace of mind by supplementing any insurance or savings you may already have to help get you through a difficult time. Consider all of your monthly expenses, such as housing, groceries, medical, childcare, vehicle and credit card payments. If something were to happen to you, would you and your loved ones have enough to get them through? This Payment Protection program has successfully helped cover the payments of over $470,000⁵ in outstanding loans for SDCCU members who have faced hardships relating to death, disability and involuntary unemployment.

Why Payment Protections Might Be Right For You 

• Helps protect your credit rating by saving you from defaulting on a loan
• Can provide a financial safety net when you or your loved ones may need it most 
• Cancel at any time; any fees already paid will be refunded if canceled in the first 30 days⁶ 

Protection Plan Options

To sign up for Payment Protection, call us at (877) 732-2848 ext. 3100 or visit any of our convenient branch locations. 
Apply Online