Auto Coverage
Your vehicle is an important part of your life. We can help you find an affordable auto protection solution for you and your family.
Lighten the Financial Impact when the unexpected happens.
Reckless drivers and bumpy roads. Car thieves and worn-out transmissions. There are a lot of things that can go wrong with your car, SUV or pickup. That’s why Piedmont Advantage offers ancillary auto coverage. Need extra protection? We have you covered. No matter how careful you are behind the wheel, it’s good to know you’re protected.
Guaranteed Auto Protection (GAP)
- Offered through National General, Guaranteed Auto Protection, or GAP as it’s referred to, is a non-insurance product that covers the difference between the actual cash value (ACV) of your damaged or stolen vehicle and the amount you owe on the vehicle under a loan or lease.
- If the vehicle is totaled, your protection will pay the difference between your insurance payout and your loan balance.
- If your vehicle is stolen, you are still protected.
- With GAP offered through Piedmont Advantage, if you ever need to use your GAP coverage, you’ll receive $1,000 toward the purchase of a replacement vehicle if you finance it through Piedmont Advantage.
GAP Scenario
- You financed a new car. A year later, the car is totaled in an accident, and you owe $25,000 on your auto loan.
- Your auto insurance will only pay the actual cash value of your car, which is $20,000. New cars depreciate quickly after purchase!
- Without GAP coverage, you would owe $5,000 on the loan. With GAP coverage, this $5,000 difference would be covered.
- When you go to purchase a replacement car and finance it through Piedmont Advantage, you get $1,000 toward the purchase price.
Depreciation Protection
Offered through Securian Financial, Depreciation Protection is ideal for you if you:
- Put money on or have equity in the vehicle.
- Make accelerated loan payments.
- Desire protection from vehicle depreciation.
- Desire peace of mind knowing the money invested in a vehicle could be protected
Mechanical Repair Coverage
Because Even Reliable Cars Break Down. You’ve got a great car and big plans. Repairs can wreck more than your weekend when something unexpected happens under the hood. That’s where Mechanical Repair Coverage, offered through APCO MemberCare, steps in.
- Similar to an extended warranty for your vehicle, but without the long-term contract.
- Affordable monthly payments.
- Use the licensed repair facility of your choice.
- Extended benefits that may not be covered by the manufacturer’s warranty.
- Choose your deductible level: $0, $100, $250, $500.
Mechanical Repair Coverage Scenario
- You’re headed to work. Coffee in hand, playlist queued. You’re feeling pretty good. Then, clunk.
- The dashboard lights up. Your transmission just threw in the towel.
- Without Mechanical Repair Coverage, you’re looking at a repair that could drain your emergency fund.
- With Mechanical Repair Coverage, you’re covered, back on the road with your budget intact.
Headquartered in Winston-Salem, North Carolina, and founded in 1949 within the aviation industry, Piedmont Advantage Credit Union (PACU) serves member-owners, who reside, work, worship, attend school or operate a business in one of the six counties it serves in North Carolina or who are employed by one of its many employer companies. These six counties are Davie, Forsyth, Guilford, Iredell, Mecklenburg and Rockingham.