Vehicle Warranty

Your vehicle is your transportation lifeline. By choosing mechanical breakdown coverage you can extend the life of your car or light truck and ensure peace of mind knowing that you are protected against costly repairs for the full term of your loan.

Even if you're covered by a new car warranty, you'll want to consider this protection. The vast majority of expensive mechanical and electrical failures occur after the factory coverage has expired.

Purchase of mechanical breakdown protection is optional and will not affect your application for credit. Your base loan interest rate is determined by credit worthiness and will be reduced by .20% with the purchase of this product. Eligibility requirements, conditions and exclusions may apply. Please contact your loan officer for additional information.

Guaranteed Asset Protection (GAP)

You could lose more than your vehicle if it is stolen or involved in a major accident. Because most insurance policies only cover the replacement value of your vehicle - something that declines rapidly during the first few years of ownership - your loan balance can be higher than the value of your vehicle. This situation is commonly called being "upside down" on a loan.

GAP helps protect the difference between your primary insurance carrier's Actual Cash Value determination and the payoff amount of your loan. Here's an example of how GAP works:

Original Purchase Price..............$30,000
Loan Balance After One Year......$26,000
Insurance Settlement..................$23,000
Remaining Balance.....................$ 3,000 (GAP pays)

Your purchase of GAP protection is optional and will not affect your application for credit. Your base loan rate is determined by credit worthiness and will be reduced by .05% with the purchase of this product. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms.

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