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  • Membership Benefits
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      Serving Army, Marine Corps, Navy, Air Force, Coast Guard, DoD and their families.
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    • Calculators
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  • Auto Loan Rates

    Guaranteed Asset Protection (GAP)

    If your vehicle is totaled in an accident or stolen and not recovered, the insurance settlement is based on the actual cash value, not the outstanding loan balance. This could create a loan “gap” money you owe on the loan after the insurance company pays its portion. Optional GAP may cover the difference between the outstanding loan amount and the actual cash value and covers up to $1,000 of your deductible.

    Note: GAP cannot be transferred from one vehicle to another.

    For new loans: GAP can be added during the initial online loan application process,
    in person at a branch. or by phone .

    GAP Frequently Asked Questions

    What is a qualifying vehicle?

    • GAP only covers up to 150% of the MSRP for new vehicles or 150% of the Actual Cash Value for used vehicles
    • Refinanced vehicle loans if the vehicle qualifies

    Note: GAP is not available on consolidation loans.

    How much does it cost?
    There is a flat enrollment fee, which can be financed as part of your loan.

    $199 for new and used vehicles.

    Many car dealers charge $400 to $700 for the same protection.

    How much will my loan payment be?

    • On a $24,500 new vehicle loan for 60 months at 4.5% APR, your monthly payment would be $457 without GAP; $460 with GAP.*
    • For a used vehicle loan of $24,500 for 60 months at 6.0% APR, your monthly payment would be $474 without GAP; $480 with GAP.*

    *Calculations are estimates. Actual payment amount may vary based on booking date of loan and applicant’s first due date.

    How do I submit a claim?

    Claims can be submitted at your local branch. by mail. or by calling 1-888-842-6328 .

    • Processing time is usually within five days of receiving all documentation
    • Maximum claim amount is $50,000
    • Full refund if canceled within 60 days of enrollment

    Since 1933, Navy Federal Credit Union has grown from seven members to over 6 million members. And since that time, our vision statement has remained focused on serving our unique field of membership:

    Be the most preferred and trusted financial institution serving the military and their families.

    About Navy Federal

    More Ways to Find Us

    Equal Housing Lender | Important Information About Opening a New Account | APY = Annual Percentage Yield | APR = Annual Percentage Rate
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    + Rates are based on an evaluation of credit history, so your rate may differ.

    ++ Rates are variable and based on an evaluation of credit history, so your rate may differ.

    *Message and data rates may apply. Terms and Conditions are available.

    USA PATRIOT Act Information

    To help fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account, including joint owners.

    What This Means For You
    When you open an account, we will ask you for your name, address, date of birth and other information that will allow us to identify you.


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