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Loan Protection

Loan Protection Options - Extended Warranty

Auto repairs can be very costly, but you can protect yourself against expensive repairs with an extended warranty.  You can purchase a warranty when you purchase your car, or when you refinance your vehicle from another financial institution.

Benefits of an extended warranty include:

  • Protection against unexpected and costly repairs
  • Ability to select your plan and deductible. All warranty plans have $0 (zero) deductible.
  • 24 hour toll-free roadside assistance
  • Rental reimbursement

For more information or to get a quote on coverage, visit your local branch or email our Centralized Lending department.

Loan Protection Options - Guaranteed Asset Protection (GAP)

Accidents happen every day. If your vehicle is totaled in an accident or stolen and not recovered, your insurance company will not pay more than the car's current value. This could create a loan "gap" - money you will be responsible for paying after the insurance company pays its portion.  This is where GAP can help.

GAP is a loan protection product that covers the difference between the outstanding loan amount and the vehicle's current value when an auto is declared a total loss.  When you add GAP to your loan, that difference is covered, including up to $1,000 of your deductible.

Be sure to ask for GAP when purchasing or refinancing your next vehicle.

Loan Protection Options - Payment Protection

When you take out a loan, many important decisions are made from how much to borrow to the term of the loan.  Another big decision to make is whether to financially protect your new loan with Credit Life Insurance.

AllSouth knows how important it is to reduce the burden on your family if you pass away. Credit Life Insurance pays off an eligible loan balance in the event of your death.

Protect your family's financial security with Credit Life Insurance. Please call our Contact Center at (803) 736-3110 for more information.