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Loan Protection

Vehicle Warranties 

As your vehicle gets older, the risk and cost of repairs will increase, and that’s when you need protection the most. Our Route 66 Extended Warranty will pay the cost of parts and labor for any uncovered repair. 

Depending on the age and mileage of your vehicle, we have three different coverage options to choose from. All of them provide benefits such as: 

  • No Deductible 
  • Nationwide Coverage 
  • 24/7/365 Emergency Roadside Service 
  • 30 Day Money-Back Guarantee 
  • Transferable Direct Claim Payments Via Visa/MasterCard 

Vehicle GAP Insurance

Guaranteed Asset Protection (GAP) protection can help cover the gap between what you owe on your vehicle loan and the actual cash value of your vehicle in case of an accident or theft. Plus, GAP Insurance will also pay your auto insurance deductible up to the GAP policy maximum. 

SCU also offers Auto Deductible Reimbursement (ADR), a supplementary insurance policy that helps you cover the cost of your auto insurance deductible in the event of an accident. 

Vehicle Depreciation Protection Waiver

When it comes to purchasing a vehicle, it’s important to consider not only the initial cost but also its long-term value. One factor that can greatly affect the resale value of a vehicle is depreciation. A vehicle depreciation protection waiver is an optional program that can provide added value and peace of mind to vehicle owners. 

At Shipbuilders, we offer a vehicle depreciation protection waiver that can help protect you from the financial impact of depreciation. With this program, if you ever need to sell your vehicle for less than what you owe on your loan, or you experience a total loss, the program will cover the difference between the vehicle’s fair market value and your loan balance. 

DPW is ideal for those who:  

  • Finance 90% or less and desire protection and peace of mind 
  • Established equity in their vehicles with a down payment, rebate and/or trade in value. 

Debt Cancellation Protection

Debt Cancellation Protection is a program that can cancel the principal and interest portion of your monthly loan payment, up to the agreement maximum, if you become involuntarily unemployed, sick or injured. It’s the perfect safety net if the unexpected occurs and you find yourself unable to make loan payments. It can also reduce or cancel your outstanding loan balance, up to the agreement maximum, in the event of loss of life. 

Contact a member service representative to learn more about which loan protection program is right for you!  

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