Car ownership isn’t just about making your monthly payment and keeping your gas tank full. As vehicles age, unexpected expenses, like mechanical issues, can quickly drain your wallet and peace of mind. If you’re considering an auto refinance, it’s also the perfect time to think about auto loan add-ons that protect both your finances and your vehicle.
Two of the best add-ons for mechanical issue protection are vehicle service contracts and vehicle protection plans. These provide long-term value, especially when bundled with your refinanced loan through Gravity Lending.
What Are Vehicle Service Contracts?
A vehicle service contract helps cover the cost of mechanical failures after your manufacturer’s warranty expires. Think engine problems, transmission issues, HVAC malfunctions, or electrical system failures. Without coverage, these repairs can easily exceed $1,000. Especially for drivers who own used vehicles or plan to keep their cars for the long haul, a vehicle service contract adds critical protection and financial predictability.
What Are Vehicle Protection Plans?
While service contracts focus on mechanical failures, a vehicle protection plan covers everyday situations like tire and wheel damage, key fob replacement, windshield repair, and roadside assistance. Whether you’re commuting on a major highway or road-tripping across the country, a vehicle protection plan ensures you’re covered for life’s little curveballs.
How These Add-Ons Save You Money on Car Repairs
Repair prices are on the rise. Even something as simple as an air conditioning failure can run hundreds of dollars. Compare that to the predictable cost of a vehicle service contract or vehicle protection plan, which can be included in your monthly loan payment.
| Common Repair | Average Cost | Add-On Coverage |
|---|---|---|
| Transmission Replacement | $3,000–$5,000 | Covered by Service Contract |
| Tire Damage | $200–$400 | Covered by Protection Plan |
| Key Fob Replacement | $150–$600 | Covered by Protection Plan |
These auto loan add-ons turn unexpected costs into manageable payments—no more dipping into savings for every repair.
Why Add Them During an Auto Refinance?
Refinancing isn’t just about securing a better rate. It’s a strategic opportunity to enhance your loan with coverage you might’ve skipped the first time. Adding a vehicle service contract or vehicle protection plan during your auto refinance often comes with better rates and broader qualifications than waiting until something breaks. Plus, you can roll the cost into your refinanced loan.
Peace of Mind and Financial Protection
In addition to saving money, these add-ons reduce stress. There’s no scrambling for cash during an emergency, and no delay in getting back on the road. Combined with loan protection insurance, they offer a comprehensive safety net for today’s drivers.
Reach Out to Gravity Lending!
When it comes to refinancing your vehicle, a vehicle service contract and vehicle protection plan are two of the smartest auto loan add-ons you can choose. They help avoid costly car repairs, reduce downtime, and simplify budgeting. Ask Gravity Lending about adding these plans or about other financial products.