Financial Horizons Credit Union

Loan Protection

Mechanical Repair Coverage

Getting a new car is great! A new car is fun to drive, looks great and seems like it could run forever. But realistically, it can start to have problems just when the factory warranty runs out. Most new vehicles now come standard with a 3 year/36,000 mile "bumper to bumper" manufacturer's warranty. But chances are, you are going to be putting a lot more than 36,000 miles on your new car. Surveys show that the average driver puts at least 15,000 miles on their car each year. If that's consistent with your driving habits, your factory warranty will be used up in less than 2 1/2 years.

Mechanical Breakdown Coverage, available through Financial Horizons Credit Union, can protect your new vehicle up to 100,000 miles (maximum odometer reading) or six years from the original in service date of the vehicle (whichever comes first). Here are just some of the benefits the Mechanical Repair Coverage program offers:

  • Bumper-to-Bumper Platinum Coverage Plan
  • Low cost - savings of 50% or greater possible vs. cost of dealer contracts
  • Authorized repairs allowed at a licensed repair facility of your choice.
  • Low deductibles with a zero deductible option available
  • Convenience of major credit card payment for repairs (directly to repair facility).
  • New vehicle coverage may be purchased up to 1 month or 1,000 miles from original manufacturer's warranty remaining.
  • Used car coverage is also available at time of vehicle purchase.
  • Coverage for private party sales

For more information, contact a credit union Financial Service Associate at one of our convenient locations:

  • Hawthorne Office (775)945-2421
  • Yerington Office (775)463-7842
  • Fallon Office (775)428-6768
  • Wnnemucca Office (775) 625-3700

Guaranteed Asset Protection Plus (GAP PLUS)

Help protect your vehicle loan with GAP PLUS. Many time primary auto insurance settlements don’t pay off your loan balance. When you buy a new or used vehicle, there’s no way to know if it will be stolen or totaled in an accident. With GAP PLUS you’re protecting your vehicle investment against possible financial loss. New and used vehicles often depreciate rapidly; there may be a point where you owe more than what it is worth; that’s where GAP PLUS kicks in. GAP PLUS will help cancel the diff3rence between the primary insurance settlement and what you may still owe. In addition if your vehicle is stolen or totaled in an accident, it will cancel $1,000 of your next auto loan with FHCU when you purchase a replacement within 60 days of your primary insurance settlement.

MEMBER COICE Mechanical Repair Coverage and GAP PLUS is made available by FHCU and CUNA Mutual Group and is administered by Consumer Protection Administrators, Inc.

Credit Disability and Credit Life Insurance

Protect your loan from unexpected illness, injury or death with Credit Disability and Life Insurance. The premium is included in your monthly payment. If you have a balance on your loan and are totally disabled due to a covered injury or illness Credit Disability will make your loan payments until you are fully recovered, or in the event of your unexpected death it may pay off the loan entirely.

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