Turn a Total Loss into a Fresh Start for Your Credit Union Members

One of the biggest financial risks that both members and credit unions face is the fact that vehicles experience significant depreciation the minute they are driven off the lot. We know that GAP Waivers offer members protection against some of the risk of depreciation by helping to waive any remaining loan balance after the primary insurance settlement in the event of a total loss. However, GAP Waivers do not always help the borrower get back into a vehicle comparable to the one they originally purchased.  A few reasons for this are diminished market value, inflation and that primary insurance carrier settlements are often under book value.  Our partners at Frost have recently introduced a GAP enhancement that can increase the value of your GAP offering called the TotalRestart – Loyalty Membership Program.


How it Works

In the event of a total loss, TotalRestart pays up to $4,000 beyond the amount that GAP recovers. When members finance their auto loan through your credit union and purchase GAP coverage, they get the peace of mind of knowing they could get credit toward the replacement cost for a similar vehicle if theirs is damaged or stolen and deemed a total loss. Often times when a credit union finances less than 100% of the vehicle value, it isn’t easy to explain and demonstrate the potential GAP risk that might exist due to unexpected depreciation or poor primary carrier settlement values. Those loans, in particular, will benefit from TotalRestart protection, as the likelihood of receiving a benefit during the term of TotalRestart is even greater when the vehicle is not over-financed.  Credit unions offering TotalRestart have also seen an increase in GAP sales.  With the inclusion of the current $1,000 GAP Plus benefit, TotalRestart would allow your credit union to offer members up to $5,000 towards their next vehicle financed with you.

TotalRestart helps credit unions to:

  • Provide a member benefit that goes beyond just paying off the loan.
  • Differentiate your loan and GAP offering by promoting its added value.
  • Increase member loyalty after a total loss as the reimbursement benefit is only available toward the financing of a replacement vehicle with YOU.

To learn more about TotalRestart, please complete the contact form below:

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