Coverage

Loan

Protect Your Loan and Your Peace of Mind

Life happens, and we’re here to help you stay prepared. Our protection plans are designed to fit your budget and give you confidence that your loan, and your financial well-being, are protected when the unexpected comes along. You can add any of these options directly to your loan.

Debt Protection

Life doesn’t always go according to plan. Debt Protection helps ease the financial stress that can come with major life events. Depending on your coverage, all or part of your loan balance or monthly payment may be canceled if you experience:

Death
Total disability
Involuntary job loss
Employer-approved family leave

It’s one simple way to protect yourself and the people you care about.

Guaranteed Asset Protection (GAP)*

If your vehicle is totaled or stolen and not recovered, your auto insurance covers its actual cash value, which can be less than what you owe. That difference, the “gap”, can leave you paying for a car you no longer have.

GAP helps cover the remaining balance on your loan, so you’re not stuck with an unexpected bill. And with our program, if a GAP claim is paid, you also receive a PLUS benefit, which gives you $1,000 toward your next vehicle when financed with Texas Plains Federal.

Mechanical Breakdown Protection (Extended Warranty)*

Your vehicle is a big investment, and repairs can be very costly, especially after the factory warranty expires. Mechanical Breakdown Protection helps safeguard you from those surprise expenses with affordable coverage options.

Benefits include: