Vehicle and Loan Protection | SWBC

Vehicle and Loan Protection

With the increase in auto lending in recent years, many financial institutions look for ways to protect their loan portfolios and help borrowers protect their vehicle assets. By offering vehicle and loan protection programs, borrowers can sleep better at night knowing their vehicle and loans are covered from a variety of events including an accident or theft resulting in a total loss, costly repairs, loss of income due to a job layoff, disability, or even death. The vehicle and loan protection programs have many benefits for your borrowers, but can also play a role in generating new revenue streams for your institution, positively impacting your bottom line.

Our protection programs easily integrate with the industry’s top Loan Origination systems, allowing your staff to quickly provide quotes during the loan process.

Guaranteed Asset Protection

Guaranteed Asset Protection (GAP) provides coverage when a borrower’s vehicle is a total loss as a result of an accident or theft and is worth less than what’s owed on the loan. We have many variations of GAP—including an industry first, GAP with PowerBuy®—to fit your borrowers’ needs.

Major Mechanical Protection

Major Mechanical Protection (MMP) provides borrowers coverage when their vehicle breaks down. MMP helps to extend the life of their vehicle and often times, pays for itself within one repair.

Payment Protection

Loan term lengths continue to rise each year, increasing the risk that a borrower could lose their job, get hurt or disabled, and in worst-case scenarios, even pass away. Offering a payment protection program protects your institution from loan default asset and helps the borrower make payments when they are no longer able to.

MPOWER+ Vehicle Return Protection

The first and only program of its kind, MPOWER+ Vehicle Return Protection gives your borrowers peace of mind that if they run into major life difficulties— like losing their jobs or not being able to work due to illness— they can return their vehicle, walk away from up to $7,500 in negative equity, and get out from under their loan while keeping their savings accounts and credit rating intact.

All vehicle and loan protection program clients will have access to the SWBC Training and Performance Program. This group of training and performance consultants will work with your team to help build a successful sales culture and foster outside-the-box thinking, encourage best practice discussions, and utilize customized sales aids. Our training approach has garnered a 99% training satisfaction rate.


Absolutely! With the average lifetime cost of vehicle maintenance at more than $8,000, the cost benefit to the borrower quickly outweighs the cost of the plan.


SWBC offers in-depth training for clients and provides customizable marketing materials to help your financial institution promote vehicle and loan protection programs.


Informed buyers know dealerships significantly markup ancillary products like GAP and MMP. Offering them these products through your institution is important your borrowers can save significantly on the out-of-pocket cost of these products.


In our experience, clients are most successful when they incorporate vehicle and loan protection quotes as part of the loan origination process and are committed to building a sales and service culture across their entire organization.


There are certain GAP programs that provide additional funds to the borrower over the gap that could be used toward the purchase of a new vehicle. Programs like GAP Advantage and GAP with PowerBuy® provide additional funds that can be applied to a down payment in some cases.

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