Lock in your vehicle’s worth.
Protect your investment.
Our Depreciation Protection ensures your vehicle’s value stays the same, regardless of market depreciation. So, if the unexpected happens, you’re not just covered, you’re ahead.
Get coverage for when accidents happen
Imagine you purchased a brand-new vehicle with a sticker price of $35,000. After negotiating and making a down payment, you finance the remaining $25,000 with an auto loan. Then, the unexpected happens — an accident. Fortunately, everyone is safe, but your car is totaled. When your insurance company assesses the loss, they base the payout on the car’s depreciated market value, which has already dropped significantly. Without Depreciation Protection, this could leave you with a financial gap.
With the right amount1 of Depreciation Protection coverage, your vehicle’s original value of $35,000 is locked in for the duration of your loan — meaning in this example, you would receive up to $10,000, the difference between the sticker price and outstanding loan balance. Locking in the value of your vehicle helps safeguard you from financial setbacks due to depreciation, giving you peace of mind and protecting your investment.
Get Depreciation Protection on your auto loan.
Disclosures
1The amount of Depreciation Protection you need will depend upon your individual circumstances. Our Consumer Loan Officers will work with you to determine the appropriate amount of coverage.