Protect Yourself with GAP Coverage
If your vehicle is totaled or stolen, your primary insurance carrier will usually only pay the actual cash value (current market value) of your vehicle. This amount could be substantially lower than your loan balance.
The final result is a financial “gap” where you must pay the difference between your loan balance and your insurance settlement. This could mean thousands of dollars out of your pocket.
GAP (Guaranteed Asset Protection) coverage, sold through InterContinental Warranty Services (IWS) helps eliminate the out-of-pocket expense by covering the difference between your loan payoff and your primary insurance company settlement.* Your loan balance is paid in full, including the portion caused by your deductible**, and you can move on to purchasing another vehicle.
You can purchase GAP Insurance through Carolinas Telco Federal Credit Union (CTFCU) or have it included with a new vehicle loan to help you afford it.
To find out more, visit your local branch or call 1-800-622-5305.
Protect Your Investment with a Warranty
CTFCU offers Vehicle Service Agreements/Mechanical Breakdown Insurance (VSA/MBI) through IWS. No matter which plan you choose, from our basic to our most comprehensive, whether for a new or eligible pre-owned vehicle, you'll get the added security of knowing you have chosen one of the finest protection plans available.
- Optional deductible
- Towing $100 (max per claim)
- Car rental
- Platinum and Gold – (up to 10 days) $500
- Bronze and Powertrain – (up to 5 days) $250
- Nationwide protection
- Travel Expenses – $100 per day up to $300 trip interruption (only available in Platinum, Gold, and Bronze)
- Increased vehicle resale value (can be transferred with the sale of your vehicle for $40 fee)
- Roadside assistance – $80 per incident within a 72-hour period
Add-on features include: (surcharge applies)
- Accidental Loss Refund – optional coverage to protect against collision or acts of God only
- KeyGuard – optional coverage for key fob/remote entry
- Light Commercial Use – coverage for eligible business uses
- Snow Plow – coverage for vehicles that have a snow plow attached
- Lift Kit/Tire Modification – coverage for vehicles that have body/suspension lifts or oversized tires
Not All Vehicle Warranties are the Same
Normally, an extended warranty program offered through a dealer is limited to “Named Component”, which means that they tell you what they cover, which amounts to around 300 to 500 parts. While it appears to be comprehensive, they don’t explain what’s not covered. We offer “named exclusion”, where we tell you both what is and isn’t covered, which amounts to protection on 12,000 to 14,000 parts. Aside from a few exceptions*, everything is covered outside of maintenance, physical damage, and after-market parts.
Our extended Powersports warranty programs protect the essential components of your motorcycle, ATV, snowmobile or personal watercraft from the high cost of repair or replacement. Additional benefits for on-road motorcycles only include substitute transportation, roadside assistance, trip interruption protection and towing.
Plus, with IWS warranties you are protected with a 60-day money back guarantee.*
Visit your local branch or call 1-800-622-5305 to find out more about the flexible warranty programs we offer and how we can protect your investment.
*Subject to certain exclusions and benefit limitations. See official details. Some restrictions apply. **Deductible coverage is not available in all states.