One good thing about the current economy is that there are a lot of bargains out there. So if you’re in the market for a new vehicle, now is an excellent time to take advantage of low loan rates and stocked dealership inventories.
And to help you protect that investment for years to come, talk with your Bronco Loan Specialist about Guaranteed Auto Protection (GAP) insurance. GAP insurance protects you against financial loss if your new vehicle is ever damaged beyond repair or if it gets stolen and is never recovered.
This specialty insurance covers the difference between the actual cash value (ACV) of the vehicle and the remaining loan balance at the time of the loss. This means you don’t have to continue to make loan payments on something you can no longer use. In a nutshell, GAP protects your credit rating by removing your responsibility on the unpaid loan balance, to help you get back into a new vehicle as quickly as possible.
GAP will cover a maximum loan term of 84 months, up to $50,000, and is available for any private passenger car, van, light truck (one ton or less), motorcycle, all-terrain vehicle, snowmobile and personal watercraft. Plus, GAP insurance is very affordable and can be financed through your vehicle or power sport loan for only a few dollars a month.
If you decide that now is not the time to buy a new vehicle and you’re looking for a way to protect yourself from expensive repairs on the car or truck you’re currently driving, Bronco has you covered there, too.
Member’s Choice Autocare Mechanical Coverage is an extended warranty plan that covers the cost of parts and labor on the repair or replacement of any covered procedure, no matter how many times you need repairs. The plan also includes:
• Rental reimbursement up to $30 per day for up to five days if your car is kept out of service overnight.
• 24-hour, toll-free roadside assistance that includes towing, jump-starts, flat tire changing, fuel, oil or other fluid delivery, and entry service when your keys are locked in the vehicle.
• Emergency travel expenses up to $500 for lodging, meals and transportation if your car breaks down more than 100 miles from home.
The plan is good at any licensed repair facility in the United States and Canada, and the repair shop is paid directly by the plan so you don’t have to worry about out-of-pocket expenses or loads of paperwork. You can cancel the plan at any time (on a pro rata basis) and you can pass it along to the next owner if you sell your vehicle to someone else.
Best of all, there are three different levels of coverage (Silver, Gold and Platinum) and you can choose the option (months and miles) that best matches your driving habits.
To discover all the advantages of GAP insurance or our Member’s Choice Extended Warranty Coverage, stop by any Bronco office or call 757.569.6000 and speak with one of our Member Service Representatives. You can also visit www.broncofcu.com to check out our current auto loan rates and to find out how you can save 0.25% when paying your Bronco loan by automatic transfer.
