Extends Auto Warranties for Your Borrowers and Generates Income for Your Institution
With Major Mechanical Protection (MMP), your financial institution can add an income-generating product to your vehicle purchasing options to protect your borrowers from costly repairs.
MMP provides coverage for major mechanical repairs on vehicles, including:
- Front and rear-wheel drive
- Front suspension
- Air conditioning
How to Implement MMP
An SWBC representative will assist you step-by-step to launch the program at your institution. First, SWBC will equip your loan officers with all of the training and materials necessary to sell MMP to your borrowers. Your employees also will be trained to use UNITY®, SWBC’s proprietary quoting tool, offered free of charge to our clients.
UNITY seamlessly interfaces with most loan origination systems, eliminating toggling between applications, to help your loan officer save time and reduce errors when quoting combined loan payment rates. The application instantly pre-populates payments, enabling your team to give borrowers an accurate forecast of the predicted payment with supplemental MMP coverage.
Ongoing Support for Your Business
After your institution launches the program, SWBC will provide you with print and digital marketing materials, such as lobby brochures, plasma messages, and a private-labeled website to use on your institution's homepage. Our internal marketing department can work with your own marketing efforts to maximize program exposure.
The Benefits for Your Borrowers
In addition to saving your borrowers from out-of-pocket repair expenses, our MMP program is often a better value than other warranties. And since we offer several coverage options, your borrowers have the freedom to choose a policy that works for them. The policy is fully transferrable and can be added to existing loans and on new/used vehicles. Some programs offer 24-hour Roadside Assistance, providing emergency tire repair, lost key and vehicle lockout services, and reimbursement for trip interruption expenses.
For more information, contact us online or call 866-316-1162.