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Vehicle Loss Privilege Program

Vehicle Loss Protection

SecureDrive Vehicle Loss Privilege Program (VLPP) assists you with the purchase of a replacement vehicle in the event of a vehicle loss.

Did you know over 39% of traded vehicles have negative equity, meaning what you owe on your vehicle is more than what the vehicle is now worth? It can take up to 6 years before a loan does not carry negative equity.  In addition, your insurer may only pay the fair market value of your vehicle. 1

In the event of a vehicle loss, VLPP provides an in-store loyalty credit that can be redeemed at your selling dealer. Whether you finance, lease, or pay cash for your vehicle, with VLPP, getting back into a replacement vehicle just got easier.

Ask your selling dealer about a plan that is tailored for you.

NEGATIVE EQUITY PRIVILEGE

CONSIDER THIS:
If you experience a total loss… (any instance where your vehicle has been declared a permanent loss by your insurer resulting from such things as collision, fire or theft)

and you have negative equity… (when you owe more on your vehicle loan than what the vehicle is worth)

your insurer may only pay the fair market value of your vehicle.

How will you get a replacement vehicle? 

LET US HELP
With Negative Equity Privilege, you are eligible for an in-store loyalty credit towards a replacement vehicle in an amount equal to the difference between your insurer payout and the remaining loan balance.

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HERE’S A SIMPLE EXPLANATION

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FOR EXAMPLE:
Outstanding Loan Balance: $23,000
Insurer Payout: $16,000
In-store Loyalty Credit: $7,000

Download Brochure

 

TOTAL LOSS EVENT PRIVILEGE

EVERY VEHICLE OWNER SHOULD CONSIDER…
If you experience a total loss…(any instance where your vehicle has been declared a permanent loss by your insurer resulting from such things as collision, fire or theft)

and your insurer only pays the fair market value of your vehicle…

are you aware of the cost to get into a replacement vehicle? 

CONSIDER:

  • The escalated cost to purchase a brand new vehicle
  • Replacement of accessories from your previous vehicle (winter tires, etc.)
  • The deposit for your next purchase
  • The outstanding debt on your original loan

WERE YOU AWARE?1

  • Over 82,000 vehicles are stolen each year in Canada
  • It can take up to 6 years before a loan does not carry negative equity (what you owe on your vehicle is more than what the vehicle is now worth)

LET US HELP
With Total Loss Event Privilege, in the event of a total loss, you are eligible for a fixed in-store loyalty credit towards a replacement vehicle.

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PRIVILEGE OPTIONS

Vehicle Value In-store Loyalty Credit
Up to $20,000 $5,000
$20,000 – $40,000 $5,000 or $7,500
$40,000+ $5,000, $7,500 or $10,000


Download Brochure

 

PARTIAL LOSS EVENT PRIVILEGE

DID YOU KNOW?

If you have a fender-bender and your vehicle is repaired, you could have a damage record on your vehicle’s history report. In many cases a damage declaration can decrease the resale value of your vehicle.

LET US HELP
In the event of a damage declaration record on your vehicle’s history report, the Partial Loss Event Privilege provides an in-store loyalty credit at the time you purchase or lease a new vehicle.

THE STATISTICS1

  • More than 1 in 5 vehicles currently driven in Canada have incurred damage exceeding $2,500.
  • The average repair bill for a collision is over $5,400, which often results in a damage record which can accelerate the depreciation of your vehicle.

PRIVILEGE OPTIONS

Vehicle Value In-store Loyalty Credit
Up to $20,000 $2,500
$20,000 – $40,000 $2,500 or $3,750
$40,000+ $2,500, $3,750 or $5,000


Download Brochure

 

THEFT EVENT PRIVILEGE

EVERY VEHICLE OWNER SHOULD CONSIDER…
If your vehicle is stolen and not recovered and your insurer only pays the fair market value of your vehicle…

are you aware of the cost to get into a replacement vehicle? 

CONSIDER:

  • The escalated cost to purchase a brand new vehicle
  • Replacement of accessories from your previous vehicle(winter tires, etc.)
  • The deposit for your next purchase
  • The outstanding debt on your original loan

WERE YOU AWARE?1

  • Over 82,000 vehicles are stolen each year in Canada
  • A vehicle theft takes place every 7 minutes
  • It can take up to 6 years before a loan does not carry negative equity (what you owe on your vehicle is more than what the vehicle is now worth)

LET US HELP
With Theft Event Privilege, in the event your vehicle is stolen and not recovered, you are eligible for a fixed in-store loyalty credit towards a replacement vehicle.

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PRIVILEGE OPTIONS

Vehicle Value In-store Loyalty Credit
Up to $20,000 $5,000
$20,000 – $40,000 $5,000 or $7,500
$40,000+ $5,000, $7,500 or $10,000


Download Brochure

 

 

1  Sources available at vlpp.ca/sources
The graphs on this page are for illustrative purposes only and may not accurately represent values for your circumstance. Variable in-store loyalty credit is capped to 150% of the suggested retail selling price. Fixed in-store loyalty credit cannot exceed the limit selected at time of purchase.

*Vehicle Loss Privilege Program is not available in Quebec.

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