Posts Tagged 'dodge ram'

GAP helps pay off stolen truck

traviscrallgap

Travis Crall of Litchfield took his girlfriend to Detroit to see a historical moment. The Detroit Lions, looking at the first 0-16 record in NFL history, were facing the New Orleans Saints at Ford Field one of the final games of the season.

“We watched them lose, as we figured,” Travis says.

But the Lions weren’t the only ones faced with bad luck that cold December night. After the game, Travis and his girlfriend walked the three blocks back to where they parked, in 10-below weather, only to find Travis’s 2003 Dodge Ram truck had been stolen.

After he filed a claim, Travi’s insurance company only agreed to cover $11,000 of his loan balance, leaving an $8,000 balance.

Luckily, Travis opted for Guaranteed Asset Protection (GAP) when he financed the truck with American 1. GAP covered the entire remaining amount.

Travis’s up-front cost for GAP? $235.

“For the one-time fee, it’s worth it,” he says. “It’s better than paying a lot if something happens.”

Unfortunately for Travis, that “something” was a stolen vehicle. His Dodge Ram was eventually recovered, missing several of its parts. In the meantime, Travis used the $1,000 GAP Advantage toward a Jeep. And, just in case, he opted for GAP again on his loan.

“Hopefully I don’t need it again, at least in that kind of situation,” Travis says.

GAP is much more affordable than paying the remaining loan balance should that “something” strike again.

“It pays for a little security,” Travis says.


American 1 Federal Credit Union