Beyond Insurance: How to protect your vehicle

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We all know the warnings: Be careful of reckless drivers; hide your valuables when you leave your car; be aware of your surroundings on and off the road. But it isn’t until something happens to your vehicle that you realize getting your car stolen or damaged is only half the battle. Next comes insurance claims, paperwork, and, worst case scenario, shelling out your money to fix or replace everything.

Dealing with vehicle repairs and replacement is no joke, nor is it any fun. We get it. That’s why we offer GAP Coverage and Route 66 Extended Warranty. These options not only provide financial protection but also peace of mind, allowing you to personalize your vehicle’s repairs or replacement.

What is GAP Coverage?

GAP Coverage, or Guaranteed Asset Protection Coverage, is designed to close the gap between what you owe on your loan or lease and what your insurance settlement will cover in the event your vehicle is stolen and never recovered or damaged beyond repair. GAP Coverage helps enhance your standard comprehensive, collision, or liability coverage but shouldn’t be used as a replacement.

While GAP Coverage may sound great, it isn’t for everyone. We typically recommend GAP if your car loan or lease is worth more than the vehicle. Should anything happen to your vehicle, having an extra layer of protection will help you get back on the road without the financial burden of additional loan payments.

Example: You bought a car for $23,000 from the dealership and put $3,000 down. A year later, you total your car, and the insurance company says the market value of your car is only $17,000— well below what you owe. Without GAP Coverage, you are stuck paying the rest of your car loan out of pocket. With GAP Coverage, the gap between what’s left on your car loan and what your insurance will pay is closed, and you’re ready to get back on the road!

What is Route 66 Extended Warranty?

One major vehicle repair has the power to be financially devastating. That’s why EdiFi has partnered with Route 66 Extended Warranty to offer you the most comprehensive mechanical breakdown coverage, regardless of your vehicle’s make or model.

Similar to GAP Coverage, Route 66 Extended Warranty bridges the gap between any warranty your vehicle may have had in the past and the entire life of your vehicle. With Extended Warranty, you can choose any repair shop to service your vehicle without worrying about paying a deductible for repairs or the cost of parts and labor.

Route 66 Extended Warranty includes:

Nationwide coverage,
24/7 Emergency Roadside Service,
30-day money-back guarantee,
Direct claim payments through Visa or Mastercard, and
Rental car allowance

Plus, 24/7 Emergency Roadside Service includes:

Towing, flat tires,
Battery jump starts,
Lock-out services, and
Minor adjustments

Can I get this coverage through a dealer? Some dealers offer versions of this coverage, but they often cost 60% more. Plus, your repairs must be done at the dealership or a repair shop of their choosing. Not only are you losing money, but you’re limited in location. With Route 66, you have the freedom to get repair services wherever you are nationwide, all at a cost-effective price.

Ready to ride with confidence? Ask your lending representative to add GAP or Extended Warranty to your loan, or contact the lending center at 1-800-225-1859 to learn more. Don't wait until it's too late. Protect your investment today!