WALKAWAY® for Financial Institutions
Added value = added volume
In a crowded lending market, customers are bound to shop around
for the best deal. Yet competitive interest rates aren't their only
consideration. By offering a complimentary 12-month waiver with
every new and used auto loan or lease, you'll give customers a
compelling reason to stop shopping around and start building a
lasting and profitable relationship with your institution.
A proven program
Created and administered by EFG Companies, WALKAWAY is the
innovative program that inspired our award-winning Hyundai
Assurance program. With WALKAWAY protection, customers have the
freedom to turn in their cars and walk away from up to $7,500 of
negative equity with Complimentary or Standard coverage — or as
much as $15,000 with Elite coverage — when qualifying life events
like disability or involuntary job loss interrupt their ability to
pay. This valuable safeguard helps financial institutions:
- Drive new auto loans by equipping prospective customers with a
backup plan that boosts consumer confidence
- Differentiate loan products in a crowded market
- Open up a new stream of revenue by offering upgrade
options
- Increase customer satisfaction and drive repeat business
Managing risk, retaining customers
WALKAWAY can help you increase vehicle loan volumes by
mitigating the risks associated with defaults, collections, and
repossessions. And because WALKAWAY benefits have no impact on the
customer’s credit score, you’re able to leave the door open for
future loan opportunities with these customers as you continue to
earn their trust and loyalty.
Walkaway for Auto Customers
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Covered Circumstances
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Complimentary $7,500
12 Months
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Standard With Payment Relief $7,500 18
Months
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Standard $7,500
up to 84 Months
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Standard With Payment Relief
$7,500
up to 84 Months
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Elite $15,000
up to 84 Months
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Elite With Payment Relief $15,000
up to 84 Months
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Freedom to Return Your Vehicle
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Involuntary Unemployment
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Physical Disability
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Loss of Driver's License
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International Employment Transfer
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Self-Employed Personal Bankruptcy
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Accidental Death
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Temporary Job Loss
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Mental Disability
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Critical Illness
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Death Due to Critical Illness
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Freedom to Keep Your Vehicle
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Payment Relief — Involuntary Unemployment
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2 Months* |
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3 Months* |
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6 Months** |
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Payment Relief — Physical Disability
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2 Months* |
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3 Months* |
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6 Months** |
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Payment Relief — Mental Disability
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6 Months** |
Additional Program Features
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Rollover Deficiency Protection on
Loan/Lease
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No Age Limit
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No Health Questions
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No Employment Questions
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* Includes coverage for one 90-day period
** Includes coverage for two 90-day periods
This represents a summary of coverage and is not a contract or
part of the WALKAWAY agreement. Coverage may vary by state. Please
consult the waiver or policy for complete details.
Walkaway for Motorcycle Customers
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Covered Circumstances
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Complimentary $7,500
12 Months
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Standard $7,500
up to 84 Months
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Standard With Payment Relief
$7,500
up to 84 Months
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Elite $10,000
up to 84 Months
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Elite With Payment Relief $10,000
up to 84 Months
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Freedom to Return Your Vehicle
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Involuntary Unemployment
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Physical Disability
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Loss of Driver's License
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International Employment Transfer
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Self-Employed Personal Bankruptcy
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Accidental Death
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Temporary Job Loss
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Mental Disability
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Critical Illness
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Death Due to Critical Illness
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Freedom to Keep Your Vehicle
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Payment Relief — Involuntary Unemployment
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3 Months* |
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6 Months** |
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Payment Relief — Physical Disability
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3 Months* |
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6 Months** |
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Payment Relief — Mental Disability
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6 Months** |
Additional Program Features
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Rollover Deficiency Protection on
Loan/Lease
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No Age Limit
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No Health Questions
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No Employment Questions
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* Includes coverage for one 90-day period
** Includes coverage for two 90-day periods
This represents a summary of coverage and is not a contract or
part of the WALKAWAY agreement. Coverage may vary by state. Please
consult the waiver or policy for complete details.
Walkaway for RV Customers
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Covered Circumstances
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Complimentary $5,000 (Under $25,000
Financed) $7,500 (Over $25,000 Financed) 12 Months
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Standard $5,000 (Under $25,000 Financed)
$7,500 (Over $25,000 Financed) Up to 84 Months
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Standard With Payment Relief $5,000
(Under $25,000 Financed) $7,500 (Over $25,000 Financed) Up to 84
Months
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Freedom to Return Your Vehicle
|
|
Involuntary Unemployment
|
|
|
|
|
Physical Disability
|
|
|
|
|
Loss of Driver's License
|
|
|
|
|
International Employment Transfer
|
|
|
|
|
Self-Employed Personal Bankruptcy
|
|
|
|
|
Accidental Death
|
|
|
|
Freedom to Keep Your RV
|
|
Payment Relief — Involuntary Unemployment
|
|
|
3 Months* |
|
Payment Relief — Physical Disability
|
|
|
3 Months* |
|
Payment Relief — Mental Disability
|
|
|
|
Additional Program Features
|
|
Rollover Deficiency Protection on
Loan/Lease
|
|
|
|
|
No Age Limit
|
|
|
|
|
No Health Questions
|
|
|
|
|
No Employment Questions
|
|
|
|
* Includes coverage for one 90-day period
This represents a summary of coverage and is not a contract or
part of the WALKAWAY agreement. Coverage may vary by state. Please
consult the waiver or policy for complete details.
