Depreciation Protection is meant to recover up to $10,000 of your vehicle equity in the event of the total loss and is paid in addition to the insurance settlement payout. The benefit payout is equal to the difference between your vehicle’s MSRP or retail value at the time of your purchase or refinance, less the amount of the loan balance at the time of total loss.
Depreciation Protection is Ideal for those who:
Depreciation Protection Benefits:
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• Added protection from collision or comprehensive total loss, including theft |
Price of Vehicle (MSPR/Retail)
Outstanding Loan Balance
Price of Vehicle (MSPR/Retail)
Outstanding Loan Balance
Depreciation Protection
Waiver Benefit at Total Loss:
Depreciation Protection
Waiver Benefit at Total Loss:
DEALERSHIP
PURCHASED AT DEALERSHIP
Outstanding Loan Balance: $30,000
Waiver Benefit at Total Loss: $27,000
$30,000
$27,000
$3,000
6-MONTHS
Outstanding Loan Balance: $30,000
Waiver Benefit at Total Loss: $27,000
$30,000
$27,000
$5,070
1-YEAR
Outstanding Loan Balance: $30,000
Waiver Benefit at Total Loss: $27,000
$30,000
$27,000
$7,171
3-YEARS
Outstanding Loan Balance: $30,000
Waiver Benefit at Total Loss: $27,000
$30,000
$27,000
$10,000*
5-YEARS
Outstanding Loan Balance: $30,000
Waiver Benefit at Total Loss: $27,000
$30,000
$27,000
$4,834
