Find the value of the car you wish to buy or sell.
For lending purposes, the credit union uses N.A.D.A. to figure vehicle values.
Learn how much your payments will be and how they fit into your budget.
Not sure which car is best for you? Use the links below to research what meets your needs.
Guaranteed Asset Protection
If your vehicle was stolen or totaled in an accident, could you cover the difference between what your insurance company is willing to pay and what you owe on your loan?
If all goes well the car or truck you buy will be around for years. Unfortunately, things don’t always go well. If a vehicle is stolen, accidentally damaged beyond repair, or otherwise declared an insured total loss, auto insurance will cover the replacement value. However, you remain liable for payment of the difference between the insurance settlement and your loan balance. This deficiency (or gap) can easily amount to thousands of dollars.
Allied Solutions GAP Protection is an affordable way to fill the gap. For just a few dollars per month, you can protect yourself against this kind of unexpected expense. GAP covers the difference between what your primary insurance carrier pays and the payoff amount of your loan, less delinquent payments, late charges, refundable service warranty contracts, and other insurance related charges. Included in this difference is your insurance deductible, which is limited to $1000. And, an additional benefit is that if you finance your new purchase with a Power Co-op Employees Credit Union loan, GAP Advantage will also pay $1000 toward the new purchase.
Eligible for coverage with Allied Solutions GAP are, new and used automobiles, vans and light trucks not exceeding a 1-ton load capacity. Motorcycles, ATV’s, Jet Ski’s snowmobiles and golf carts, travel trailers, boats and motor homes are also included.
GAP coverage is offered at the credit union. Ask for more details the next time you are applying for a loan and rest assured that should the unexpected happen you will be covered. All this protection for only $335 for vehicles, recreational vehicles and watercraft coverage is based on the value of the loan. GAP must be purchased at the time you open your loan.
Mechanical Breakdown Coverage
If your vehicle had a major mechanical breakdown, could you afford the cost of repairs?
Can you afford a $1500-$2000 repair bill for new transmission, engine, drive train or air conditioning system? Many of us can’t. For only a few dollars a month you can have extended protection on many of your vehicles most costly components.
Typically you would purchase this at the time you buy the vehicle and get your financing, but on a new vehicle, it can be purchased as long as there is still time and miles left on the warranty. If the manufacture’s warranty has expired you can still buy this protection but you need to do it at the time you get your loan.
Your service contract also provides the following features and benefits, 24-hour roadside assistance for the term of your contract, rental vehicle assistance, tire road hazard protection, and direct payment to the repair facility
A unique benefit of this coverage is that it can be transferred to a new owner for a small fee. So, if you normally sell your car privately rather than trading it in, your buyer can receive the benefits of this plan. Having this coverage would give your buyer added peace of mind and you may be able to get a better price for your car.
If you want to know more, give us a call. After answering a few questions about your vehicle and driving habits, we will be able to give you a quote.