Posts Tagged 'car'

MBP adds ‘copper’ warranty plan for older vehicles

Good news: American 1’s Mechanical Breakdown Protection (MBP) warranty is adding coverage for vehicles up to 15 years, thanks to the new Copper plan.

This means that vehicles between 10 and 15 years old (which, today, covers vehicles from 1997) can get all the benefits of a quality, top-notch warranty.

The only restrictions on our new Copper MBP plan is the age of the vehicle. That means if your manufacturer’s warranty has run out, or even if you don’t have the vehicle financed with American 1, you can still get warranty protection on your vehicle.

We have two options: a two-year plan and a three-year plan, but even if those run out and your car is younger than 15 years, you can re-up the MBP Copper plan. Check out our MBP brochure to see what the Copper plan covers (it’s quite a bit!).

The same company that covers our other levels of vehicle warranty, Mercury, is launching this Copper coverage, so you know your protection is backed up by a reputable company.

More and more Americans are keeping their vehicles longer, and the older a vehicle the more llikely it will need repairs. That’s what makes this new level of coverage so exciting.

Stop in to any American 1 branch to talk about our new Copper plan for MBP.

Advertisements

Poll: Your favorite car decade

Maybe it’s the decade you got your first car, or maybe you’re a collector of a certain vintage – either way, you probably have your favorite decade for cars.

The classic styles of the ’50s, or the muscle cars of the ’60s. It could be you like the sleek, modern styles of today’s cars, or the giant boats of the ’70s and ’80s.

Let us know:

Rebate 2010: birthday present

Cindy Grymko took the rebate

Last year, Cindy Grymko was thinking about her upcoming 50th birthday, and thought a new car would be a great gift.

So she got one. A beefed-up Chrysler 300C, complete with a Hemi motor and “all the horns and whistles,” she says.

“This is an upgrade model,” Cindy says. “I thought, ‘What do I need a Hemi for?’”

Cindy financed her car with Chrysler, but before she made her first payment an American 1 employee at our former Argyle Branch told her about the 50% loan rebate in April. She hadn’t had the car a month yet, but figured, “why not?”

“I told them, ‘Sure, sounds good. What do I have to do?’” Cindy says.

Initially, she had no idea how much she would get back for her interest rebate. She figured maybe $400 or $500, tops, for the interest she was paying on her souped-up Chrysler.

But when the rebate deposit hit her account, she saw the rebate gave her more than double what she thought.

“I was like, ‘Wow, that’s cool,’” Cindy says. “It’s helped me stay afloat, with the economy and helping the kids.”

Cindy was off work due to knee surgery, and was afraid she might be late on a payment – which would mean she would forfeit the rebate. But she found a way, and ended up being one of the top five rebate recipients last year.

“I would tell anyone to do it,” she says. “It’s like a tax refund, but it helps build your credit.”

Learn more about our 2010 rebate.

Save money by changing your own oil

Change your own oil

Looking to save money on auto maintenance, and happen to be in a do-it-yourself (DIY) mood?

Try changing your own oil. That’s the advice from the Art of Manliness blog.

Changing your own oil will do three things, Brett & Kate McKay say: save money, prevent theft, and feed the inner hobbyist in you.

The materials, like the oil filter and wrench set, are important, as is safety. But if you have the space, time, and inclination, changing your own oil is a good way to beat those instant lube $30 jobs.

Auto Loan Experts: July gas card winner

jamessjuly09

Last month, we offered to give away 90 days worth of gas to one lucky member who financed a vehicle with American 1.

Our lucky winner is James S. of Jackson, who financed a 2003 Acura MDX. James wins $300 worth of gas.

Congratulations, James!

Auto loans: fulfilling one guy’s dream

Frances, one of the Member Service Specialists at our Home Office in Jackson, had this story to share about a recent loan closing:

I did a loan for a teenaged guy yesterday who brought his grandpa in as co-signer.

This guy was just so stoked about the 2000 Ford Mustang he was buying; he was overflowing with that unmistakable first-car enthusiasm that seemed to be contagious enough to sufficiently ward off the grandpa’s supposed orneriness. Not even the fact that Secretary of State wasn’t open yesterday [July 6] and he’d only be able to pick up the car today could dampen his fervor. Nor did his grandpa’s explicit threat to twist his arm off and beat him with the bloody stump if he didn’t make his payments put a dent in his mood (“I know where you live, boy! Remember that!”).

He left a happy guy with his check and I thought that was the end of it.

Well, little did I know that one of the first stops he’d be making after picking up his car today was Home Office, with the sole purpose of showing me his shiny new ride. It was fantastic to be able to share in his enthusiasm as we exchanged excited remarks about what a deal it was and how shiny and red she was, glistening there in the parking lot.

He thanked me again for all I’d done and took off, but left me with a warm fuzzy feeling of satisfaction for having had a part to play in this 18 year old fulfilling one of his greatest dreams.

Since we do a lot of auto loans, this kind of thing probably happens more often than we think. What about you: what was your first car or truck? And how did you get it?

Let us know in the comments!

MSN: GAP coverage is a good idea

MSN Money’s Liz Pulliam Weston, in “Why a wrecked car could cost you,” lays out why it’s good to have Guaranteed Asset Protection (GAP) coverage on your auto loan.

Because of dropping vehicle values, what you owe on your car could be more than what an insurance company will pay you for a wrecked or stolen vehicle:

Even if you made a big down payment, you still could be upside down on your loan or lease because resale values have plummeted so quickly.

Volatility in resale prices started last year, when gas prices spiked, hurting sales and values of bigger, gas-guzzling cars, said James Clark, the general manager for ALG, which publishes the Automotive Lease Guide.

Weston also notes that getting GAP from the dealership is “probably the most expensive choice.”

We have numerous stories about how GAP has helped members regain their vehicle investment. In the end, it’s affordable protection that can help cover the cost of your auto loan if the unthinkable happens.