Mechanical Breakdown

Mechanical Breakdown – when buying a vehicle, the cost of repairs from mechanical breakdown can become a burden and impact loan repayment ability. A vehicle service contract is an agreement to repair some or all of the defects associated with the vehicle on record. It can complement the manufacturer’s warranty that comes with most vehicles, as well. Plans range from full bumper to bumper (exclusionary only) coverages to basic Powertrain only protection depending on what components your borrower wants covered. These plans are transferable and cancelable with a refund depending on time lapse and mileage place on the vehicle while under contract. If done at the time of the loan, the contract price can be financed in with the credit agreement. 

Please click here to see a breakdown of coverage plans.