On New or Used Vehicles

Getting an auto loan is about more than just the right rate — it's also about having the right protection.

Premier Credit Union offers Mechanical Repair Coverage (MRC) which helps pay for covered repairs on your car when that unexpected breakdown occurs. For a few dollars per month, you can protect your vehicle and your finances from expenses that could total hundreds or even thousands for dollars.

Purchasing Mechanical Repair Coverage for a vehicle that is still covered by the manufacturer’s warranty provides you with the most convenient, cost-effective way to endure uninterrupted protection and peace of mind if you own the vehicle after the manufacturer’s warranty expires.

On the date of purchase, the MRC plan starts protecting you immediately from the cost and inconvenience of covered breakdowns with the plan’s 24-hour roadside assistance, towing, emergency travel expense and rental reimbursement. The coverage complements your manufacturer’s warranty because the roadside assistance travel expense reimbursement can be used immediately, even if your vehicle breaks down during the manufacturer’s warranty period. Later on down the road your protection continues on after your manufacturer’s warranty expires.

If you’re purchasing coverage for an eligible used vehicle that is no longer covered by a manufacturer’s warranty, you’ll have peace of mind in knowing that you’re protected from much of the costs and inconvenience of covered breakdowns.

The MRC plan pays for parts and labor for covered repairs.

You pay only the deductible amount you select: $0, $50, $100, or $250.

On covered repairs, the plan also includes:

• Rental reimbursement up to $30 per day for up to 5 days if your car is kept out of service overnight for a covered breakdown.
• 24-hour, toll-free roadside assistance, which covers towing, jumpstarts, flat tire changing, fuel, oil or other fluid delivery and entry when keys are locked in your car.
• Emergency travel expense up to $500 for lodging, meals and transportation if a covered breakdown occurs more than 100 miles from home.

The MRC plan is:

• Good at authorized automobile dealers or repair facilities in the U.S. and Canada.
• Transferable if you sell your vehicle to a private party.
• Cancelable at any time on a pro-rata basis.
• Convenient, with toll-free customer service and communications.
• Hassle-free, because the repair facility is paid directly by the plan.
• Flexible, since you can choose the coverage and terms (months and miles) that match your vehicle and your driving habits.

GAP – Guaranteed Asset Protection

Why would I consider GAP on my new auto purchase?
Because there could be a big difference between what your insurance will pay and what you owe on your loan in the event of a total loss.

Most cars depreciate by thousands of dollars as soon as they are purchased. Unfortunately, if your vehicle is stolen, accidentally damaged beyond repair or otherwise declared as a total loss, you are still liable to pay the difference, or the “gap”, between your insurer’s settlement and your loan balance. That gap will come out of your pocket for a vehicle that, for all practical purposes, no longer exists.

MEMBER’S CHOICE™ Guaranteed Asset Protection (GAP) could save you thousands of dollars.

GAP is low-cost coverage that pays the potentially high-cost difference between your insurance settlement and your loan balance on items directly related to the purchase of your vehicle.

It’s easy to be covered.
You can sign up for GAP when you apply for your vehicle loan. There’s no underwriting, no red tape, no hassles. You may also roll the cost of GAP right into your Premier Credit Union auto loan.

Refundable feature.
GAP is fully refundable if you cancel the coverage within the first 90 days.

For More Info -   847-493-1634