Piedmont Credit Union offers
several loan add-on's to provide you with peace of mind.
There is affordable credit disability insurance and affordable
credit life insurance. There is also Guaranteed Auto
Protection (GAP) to ensure that your car loan will be paid off
in an accident. Below is an explanation of these various
optional loan services.
This insurance protects your loved
ones in the event of your death. If you die before your loan
is paid Credit Life Insurance will payoff your remaining balance so
that your family will not have the burden of paying your loan or
possibly losing the collateral that might be attached to the loan.
Credit Life Insurance is available on
all types of loans except credit cards.
Credit Disability Insurance
This insurance will pay your payments
in the event that you become disabled to the point that you can no
longer work.
Credit Disability Insurance is
available on all types of loans except credit cards.
Mechanical Breakdown
Coverage
Did you know that, statistically, one in
three vehicles has a mechanical failure in a given year? J.D. Power
& Associates reports that the average 2007 model car has 125
problems per 100 vehicles! For several years extended automobile
warranties have been available, many are quite expensive. Piedmont
Credit Union is pleased to offer an affordable Mechanical Breakdown
Protection Program through Route 66.
Our Route 66 Mechanical Breakdown Protection
Program has a $0 deductible, 24/7/365 Roadside Service, rental car
benefits, 30-day money back guarantees, nationwide coverage, and is
fully transferable. Plans start around $900 and can cover almost any
car with any mileage. There are, of course, different plans and
different levels of coverage.
You can purchase a Mechanical Breakdown Protection Program at any
time, even if you don’t have a loan on your vehicle, and your
vehicle does not currently have to be under a factory warranty. For
a quote or for more details, just write down your car’s mileage and
contact one of our loan
officers.
GAP (Guaranteed
Auto Protection)
If your vehicle is in an accident and
is declared a total loss, the majority of insurance companies will
only pay up to the book value of the vehicle. Since new cars
drop in value the moment they leave the car lot, the book value is
often less than the amount that is owed. If a car is wrecked
the borrower is responsible for the difference of what the insurance
company pays and what is owed on the car. GAP pays this amount
for you if your vehicle is wrecked.
EXTRA BONUS: If you have to use
GAP, it even gives you a $1,000.00 down payment on your next auto
loan with Piedmont Credit Union. First the loan is made and
then it is submitted to our GAP provider who in turn sends a check
for $1,000.00 to pay down on your loan.
GAP is available for automobile,
truck, SUV, and Van loans. Motorcycles, RV's, and Boats are
not eligible for GAP coverage. For more details and current
pricing on GAP contact a
loan officer.
mechanical failure in a given year? J.D. Power
& Associates reports that the average 2007 model car has 125
problems per 100 vehicles! For several years extended automobile
warranties have been available, many are quite expensive. Piedmont
Credit Union is pleased to offer an affordable Mechanical Breakdown
Protection Program through Route 66.
