PowerBuy® Equity Protection

Every vehicle on the road depreciates in value. Once you drive a new or pre-owned vehicle off the lot, its value begins to drop. So how do you protect this value over time, especially if you experience a total loss from an accident or the vehicle is stolen and never recovered? That’s where PowerBuy Equity Protection steps in.

How does PowerBuy Equity Protection help me?

Let’s say your vehicle is totaled or stolen. Your insurance carrier will pay you for the actual cash value of the vehicle at the time of loss. However, they don’t pay for the value of the vehicle lost over time. That’s where PowerBuy Equity Protection steps in to provide a benefit amount to cover the difference between the cash purchase price and your insurance carrier settlement. As long as you return to your credit union to finance your next vehicle, you’ll receive a designated benefit amount to help you get back on the road with a replacement vehicle.


For example, if you paid $37,000 for a vehicle and two years later you are in an accident and the vehicle is declared a total loss, your insurance may pay you $32,000–the actual cash value of your vehicle at the time of your accident. You’re left with a loss of $5,000, the amount the vehicle depreciated. Unfortunately, with no additional coverage, you would be out of that amount. However, with a PowerBuy Equity Protection plan, the benefit amount would cover the difference ($5,000) to return to your financial institution to finance your replacement vehicle.








Additional details


You can add PowerBuy Equity Protection to your loan at any time during the first 12 months of purchasing your vehicle


After purchasing PowerBuy Equity Protection, your vehicle is covered for up to 60 months


To receive your PowerBuy benefit, you’ll need to finance your replacement vehicle with our credit union

Drive with confidence knowing that your financial institution is here for you.

Speak with a loan officer to add PowerBuy Equity Protection to your loan today.

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