You have found the perfect vehicle, doesent it make sense to protect it? Mechanical Breakdown, Guaranteed Asset Protection and Debt Protection can save you loads of money in the event something goes wrong with your vehicle.
Mechanical Breakdown Protection (MBP)
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Guaranteed Asset Protection (GAP)
In the event of theft or total loss of your vehicle, most insurance companies only pay the Cash Value of the vehicle at the time of the loss. Your remaining loan balance could be much greater than the Cash Value of your vehicle creating a DEFICIENCY OF SEVERAL THOUSAND DOLLARS THAT YOU’RE LIABLE FOR! What is the “GAP” on your vehicle? You may be surprised at the answer!
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When you have debt protection on your loan, the financial institution agrees to cancel or suspend all, or part, of your obligation to repay an extension of credit (from that financial institution) upon the occurrence of a specified event. Events include: death, disability, involuntary unemployment, family leave and hospitalization.
Please review your financial institution’s Debt Protection Program Agreement or Product Reference Card for specific information about the debt cancellation or suspension benefits available at your financial institution.