Q

My wife and I share a car. Can we request a benefit if one of us loses our job, even if the other one remains employed?

A

There can only be one protected person under each WALKAWAY agreement or contract. For both spouses to be eligible for benefits, each must hold their own WALKAWAY agreement or contract and both be named on the loan or lease.
 

Q

Will returning a car, thanks to a payable WALKAWAY benefit , damage my credit rating?

A

NO. The return of vehicles under WALKAWAY is not a credit default. It merely represents your exercise of your privileges under the program. As a result, WALKAWAY protects both your credit rating AND your savings.
 

Q

If my son is listed as co-buyer on my contract, can he receive the complimentary coverage or agreement/contract?

A

YES. If you choose not to upgrade to your son, but elect enhanced coverage to cover yourself, he may be listed on the complimentary coverage. No more than 1 complimentary agreement or contract may be written per loan or lease contract.
 

Q

Is returning a vehicle due to a qualifying WALKAWAY benefit considered a voluntary repossession?

A

NO. The return of a vehicle resulting from a paid benefit is considered an early pay-out of your loan or lease. It’s not considered a voluntary repossession and doesn’t adversely impact a consumer’s credit rating in any way. HOWEVER, RETURNING YOUR VEHICLE PRIOR TO BENEFIT APPROVAL WILL BE CONSIDERED A VOLUNTARY REPOSSESSION BY YOUR LENDER AND CAN IMPACT YOUR CREDIT SCORE NEGATIVELY.