Loan Protection

Protect Your Loans

Galaxy Payment Protection Plan (GPP)

Whether you are thinking about taking out a new loan or already have a loan with us, you should take steps to protect you and your family in case something unforeseen happens. GPP offers disability, life and involuntary unemployment coverage on all types of loans, with a low monthly amount being added to your normal loan payment.

Your purchase of a GPP plan is optional and will not affect your application for credit or the terms of any credit agreement regarded to obtain a loan. Certain eligibility, conditions and exclusions may apply. Please contact Galaxy or refer to the Member Agreement for a full explanation of the terms of the GPP.

You may cancel the protection at any time. If you cancel within 30 days, you will receive a full refund of any fees paid. Ask any employee for more information or to sign up.

Guaranteed Asset Protection (GAP) insurance

GAP insurance is offered to our members at an affordable one-time cost, which can be added to the loan or paid in full at the time you sign up. It can help fill the gap between what your vehicle insurance will pay and what you owe on your loan, to cushion you against sudden out-of-pocket expenses if your vehicle is totaled.

Mechanical Repair Coverage (MRC)

MRC is available to our members even if they do not have their vehicles financed through us. This affordable product can be paid in full when purchased, added to your loan, or paid with a loan at Galaxy. MRC provides the policy holder with protection against the increasingly high cost of mechanical breakdown repairs for a specific period of time and mileage.

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