Table of Contents: Why Younger Borrowers Need Proactive Protection How our Maintenance Benefit Agreement Benefits Borrowers and Builds Loyalty A Smart Fit for Students, Families, and Future Borrowers ...
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3 min read
Table of Contents:
- Why Younger Borrowers Need Proactive Protection
- How our Maintenance Benefit Agreement Benefits Borrowers and Builds Loyalty
- A Smart Fit for Students, Families, and Future Borrowers
- The Bonus Advantage: GAP with ADR Protection
- Position Your Institution as a Partner, Not Just a Lender
When it comes to building lasting relationships with your borrowers, you must think beyond the loan. As younger borrowers enter the market and families juggle multiple vehicles, financial institutions have a unique opportunity to position themselves as trusted partners.
Regular vehicle maintenance is essential for financial stability, safety, and protecting your financial institution's auto loan portfolio. But convincing busy students, first-time car buyers, and families with packed schedules to prioritize maintenance isn’t always easy. That’s where a smarter, more borrower-friendly Maintenance Benefit Agreement solution comes in.
Why Younger Borrowers Need Proactive Protection
Today’s younger borrowers often have different financial habits and expectations than previous generations. Many are managing tight budgets, rising costs of living, and higher student loan debt. For them, unexpected vehicle repairs can derail financial plans and lead to loan delinquencies or defaults.
Parents of college-bound students and multi-vehicle households face similar challenges. Regular maintenance can help prevent major issues, but without a convenient, affordable way to manage it, those services are often skipped.
By offering a simple maintenance plan like SWBC’s Maintenance Benefit Agreement (MBA), you can help these borrowers stay protected, stay on the road, and stay financially healthy.
How MBA Benefits Borrowers and Builds Loyalty
SWBC’s Maintenance Benefit Agreement is designed with modern borrowers in mind. By offering practical services they’ll actually use and appreciate. Coverage includes essential, everyday services like:
- Oil changes
- Brake pads/shoes
- Battery replacement
- Safety inspections
- Cooling system maintenance
- Wiper blade replacements
- Cabin air filters
- Roadside assistance
- A mechanic on call
- And more! All fully insured by an “A” rated carrier.
It’s an easy, affordable way for borrowers to protect their vehicles and their wallets while giving your financial institution an opportunity to enhance your value proposition.
The result?
Fewer surprise repair bills, safer vehicles on the road, and more positive experiences that drive long-term loyalty.
A Smart Fit for Students, Families, and Future Borrowers
Whether it’s a college student driving hours back and forth between campus and home or a multi-vehicle household, MBA provides the peace of mind they need and the reliable protection you can stand behind.
Plus, when your borrowers know their vehicles are cared for, your financial institution benefits too. Well-maintained vehicles help preserve collateral value and reduce the likelihood of skipped payments due to expensive, unexpected repairs.
The Bonus Advantage: GAP with ADR Protection
For even more comprehensive coverage, SWBC’s GAP with Auto Deductible Reimbursement (ADR) is the perfect complement to MBA. While MBA helps manage routine maintenance, ADR steps in when you experience accidents like fender benders, reimbursing insurance deductibles for all registered vehicles a borrower owns. It’s an added layer of protection that resonates with today’s borrowers, offering convenience, flexibility, and financial security.
Position Your Institution as a Partner, Not Just a Lender
By offering practical, borrower-focused benefits like MBA and GAP with ADR, your financial institution can strengthen relationships with younger borrowers, improve loan performance, and stand out in a competitive lending market.
Ready to learn more? Contact us today and see how our auto protection solutions can help you grow, protect, and future-proof your loan portfolio.
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