According to CARFAX, new vehicles lose about 45% of their value within three years, and about 60% of their total value within five due to depreciation.
In the event your vehicle is declared a total loss after an accident or theft, it’s likely the standard insurance policy will fall short in covering your entire loan balance. In fact, if the average new car owner has their vehicle stolen or damaged beyond repair, they could still owe thousands of dollars after their insurance settlement.
To protect yourself from a financial loss, move beyond the industry standard with coverage that’ll benefit you through your entire loan term.
GAP Advantage with PowerBuy™ is a unique product that addresses both outstanding loan balance and depreciation loss. This coverage can pay up to the remaining balance of your auto loan after an insurance payout AND give you additional funds to finance your next vehicle with us.
In most cases, GAP Advantage with PowerBuy* will make up the difference between what your insurance policy covers and the amount you still owe. So, instead of paying off a substantial loan balance for a vehicle you can no longer drive, you could be relieved from your remaining loan balance and have funds to put toward a down payment on a new car.
Give yourself peace of mind knowing your auto loan won’t be a be a burden if an unexpected accident or theft occurs.
To learn more, call your loan officer or service representative today!
*GAP Advantage with PowerBuy may be considered insurance coverage in some states; however, PARDA still requires full coverage insurance on all vehicle loans.
Your purchase of GAP Advantage with PowerBuy is optional. Whether or not you purchase GAP Advantage with PowerBuy will not affect your application for credit or the terms of any existing credit agreement you have with the financial institution. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under GAP Advantage with PowerBuy. You should carefully read the contract for a full explanation of the terms.
Whether you plan on selling your vehicle after a few years or plan on driving it for many years to come, you may find yourself eventually dealing with a repair or breakdown. And with the rising cost of labor and parts, you could find yourself dealing
with high out-of-pocket expenses.
With Major Mechanical Protection (MMP), you can protect yourself from costly repairs and enjoy your vehicle longer. The total cost of MMP is often far less than the cost of a single repair! Pay for this protection once, and in most cases, you will not
have to pay anything more than a small deductible should a breakdown occur.
Your coverage may include all or some of the following benefits*:
Comprehensive repair coverage
24-hour roadside assistance
Lost key and lockout assistance
Emergency tire repair
Rental car reimbursement
Trip interruption expense reimbursement
Flexibility when getting repairs done — can be used at most licensed repair facilities
MMP transfers to a new owner, which adds to the resale value of your vehicle
Protect yourself for the road ahead— to learn more about MMP, call your loan officer or service representative today!
An unexpected illness, injury, or worse can eliminate the ability to earn a paycheck. Even the most responsible person can be hit with the unexpected and cause damage to their financial health.
When you add Payment Protection to your loan1, you minimize the impact of the unexpected. In most cases, Payment Protection can:
Eliminate all or part of your remaining loan balance
Protect your credit rating as loan payment obligations are made on your behalf
Prevent late fees
Create financial security for your family
Free-up extra cash when it’s needed most
Payment Protection is affordable, it may cover both you and your co-borrower, and it is a part of your regular payment—giving you one less thing to worry about.
To learn more about Payment Protection, contact your loan officer or service representative today!
1Payment Protection may be available for personal credit cards, auto loans, and personal consumer loans.
Your purchase of Payment Protection is optional. Whether or not you purchase Payment Protection will not
affect your application for credit or the terms of any existing credit agreement you have with the financial institution. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under Payment Protection.
You should carefully read the contract for a full explanation of the terms.