Finance Warranty

Finance
Warranty Program

When you are financing or leasing a vehicle, you have protection plan options to explore. What if something happens to your vehicle during your lease or financing contract? Our protection programs are here for you in the case you are involved in an accident or total loss. Since insurance may not cover the full amount that you still owe on your vehicle, you can turn to us at our Toyota dealership in Hollywood, FL. Contact us for details about our protection programs today.

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GAP & GAP Plus Total Loss Protection Programs

PLAN OVERVIEW

JM&A Group provides two programs for dealers to offer to consumers: GAP and GAP Plus.

The Amount Owed does not include missed payments, payment extensions, deferred payments, accrued interest, late fees, disposition fees, penalty fees, early termination fees or finance charges incurred after the date of loss. Also, if the insurance company valuation used to calculate the Actual Cash Value is less than 90% of the NADA value of your vehicle, the NADA value will be used in determining the “gap” amount waived (which means a smaller amount may be waived).

If your car is determined to be a Total Loss, this “gap” could translate into thousands of dollars that you would still owe after the settlement from the auto insurance company. The Plan excludes total loss claims denied by your automobile insurance company. This is an optional waiver product and not a product of insurance. It is not required for you to obtain financing for the purchase or lease of a vehicle.

It’s called the “gap.” It’s the difference between the Amount Owed on your Retail Installment Sales Contract/Lease Agreement and the Actual Cash Value of your vehicle at the time of a Total Loss.

Your vehicle is an investment, and it’s important to keep that investment protected. If you are leasing or financing your car, truck, SUV or van, it is essential to understand your options when it comes to warranties and coverage in the event of an accident or loss. That’s where GAP coverage comes in. GAP is the difference between the amount owed on your sales contract or lease agreement, and the actual cash value of your vehicle at the time of a total loss.* This difference could translate into thousands of dollars. The GAP and GAP Plus total loss protection program covers the difference after the settlement from the auto insurance company during a total loss.

Road Hazard Tire & Wheel Protection Plan

PLAN OVERVIEW

Road Hazard Tire & Wheel Protection Plan repairs or replaces tires damaged by Road Hazards, which include debris on the road surface or road surface conditions such as potholes, cracks and breaks.

Provides for the replacement of wheels only when or if the wheel cannot be balanced, will not hold air, or the damage has affected the structural integrity of the wheel.

Cosmetic and structural damage to tires and wheels caused by collisions with curbs or abnormal wear and tear are not covered. Any tire and/or wheel failure caused by accidents, theft, vandalism, misuse, negligence is also not covered.

Repairs or replaces tires damaged by Road Hazards, which include debris on the road surface or road surface conditions such as potholes, cracks and breaks.

This plan covers repairs or offers replacement tires for wheels damaged by road hazards. This includes hazards such as debris on the road, and surface conditions such as potholes, cracks and breaks. It also includes if the wheel can’t be balanced, will not hold air, or the structural integrity has been compromised or affected.**

Car Care

PLAN OVERVIEW

Most factory warranties are valid only if you maintain your vehicle regularly. The Car Care Service Plan includes valuable maintenance services that help you keep your vehicle qualified for factory warranty protection.
 
The Car Care Service Plan is simple:

  • Maintenance visits can be pre-scheduled.
  • Bring your car and coupon booklet to your service department.

Major repairs on today’s automobiles can be costly. Help protect your investment and your peace of mind with a Car Care Service Plan.

A pre-paid maintenance plan designed to improve customer retention and service drive performance. Customers can choose from many different term and interval options.

This pre-paid maintenance plan includes valuable services that can help to keep your vehicle qualified for factory warranty protection, as many factory warranties are only valid if you keep to a routine maintenance schedule. All you have to do is simply bring your car and coupon booklet to your service department. Plus, your maintenance visits may be pre-scheduled to make this more convenient and easier for you. Protect both your investment and your peace of mind with the Car Care Service Plan.

Lease Excess Wear and Tear

PLAN OVERVIEW

Leasing a new car should be a carefree and enjoyable alternative to the responsibilities of auto ownership.

But many of the risks of driving a car – the small dents and dings that happen in parking lots, chipped paint, even worn tires – are your responsibility at lease-end. You either repair them, or you pay the leasing company to perform the repairs. You may lose part of your security deposit, all of it, or maybe even more… Why worry about things that happen to almost any car?

The optional Leased Vehicle Excess Wear & Tear Plan may waive up to $7,500 of the cost of repairing covered parts including dents, dings, scratches and wear and tear on your vehicle at lease-end. You must turn in your vehicle at any time prior to or within 1 year after the original scheduled maturity date stated on your contract and you must not exercise the purchase option.

Waives up to $7,500 of excess wear and tear damage at the end of a lease.

Leasing a car should be enjoyable, and this plan helps to take the stress and worry out of leasing a vehicle by waiving up to $7,500 of excess wear and tear damage at the end of your lease agreement. Small dents and scratches or chipped paint and worn tires are your responsibility at the end of the lease. Rather than repairing them yourself or paying the leasing company to perform the repairs, this coverage plan waives up to $7,500 of the cost of repairing covered parts including dents, dings, scratches and wear and tear.

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*The Amount Owed does not include missed payments, payment extensions, deferred payments, accrued interest, late fees, disposition fees, penalty fees, early termination fees or finance charges incurred after the date of loss. Also, if the insurance company valuation used to calculate the Actual Cash Value is less than 90% of the NADA value of your vehicle, the NADA value will be used in determining the “gap” amount waived (which means a smaller amount may be waived).