Finance, Banks and Credit Unions - WALKAWAY Program | EFG Companies
 
 
 

WALKAWAY® for Financial Institutions

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Added Value = Added Volume

In a crowded lending market, customers are bound to shop around for the best deal. Yet competitive interest rates aren't their only consideration. By offering a complimentary waiver with every new and used auto loan or lease, you'll give customers a compelling reason to stop shopping around and start building a lasting and profitable relationship with your institution.

A proven program

Created and administered by EFG Companies, WALKAWAY is the innovative program that inspired our award-winning Hyundai Assurance program. With WALKAWAY protection, customers have the freedom to turn in their cars and walk away from up to $7,500 of negative equity with Complimentary or Standard coverage — or as much as $15,000 with Elite coverage — when qualifying life events like disability or involuntary job loss interrupt their ability to pay. This valuable safeguard helps financial institutions:

  • Drive new auto loans by equipping prospective customers with a backup plan that boosts consumer confidence
  • Differentiate loan products in a crowded market
  • Open up a new stream of revenue by offering upgrade options
  • Increase customer satisfaction and drive repeat business

Managing risk, retaining customers

WALKAWAY can help you increase vehicle loan volumes by mitigating the risks associated with defaults, collections, and repossessions. And because WALKAWAY benefits have no impact on the customer’s credit score, you’re able to leave the door open for future loan opportunities with these customers as you continue to earn their trust and loyalty.

WALKAWAY for Auto Customers

Covered Circumstances

Complimentary $7,500

Standard $7,500

Standard With Payment Relief $7,500

Elite $15,000

Elite With Payment Relief $15,000

Freedom to Return Your Vehicle

Involuntary Unemployment

Physical Disability

Loss of Driver's License

International Employment Transfer

Self-Employed Personal Bankruptcy

Accidental Death

Temporary Job Loss

       

Mental Disability

       

Critical Illness

       

Death Due to Critical Illness

       

Freedom to Keep Your Vehicle

Payment Relief — Involuntary Unemployment

    3 Months*   6 Months**

Payment Relief — Physical Disability

    3 Months*   6 Months**

Additional Program Features

Rollover Deficiency Protection on Loan/Lease

No Age Limit

No Health Questions

No Employment Questions

* Includes coverage for one 90-day period
** Includes coverage for two 90-day periods
This represents a summary of coverage and is not a contract or part of the WALKAWAY agreement. Coverage may vary by state. Please consult the waiver or policy for complete details.

WALKAWAY for Motorcycle Customers

Covered Circumstances

Complimentary $7,500

Standard $7,500

Standard With Payment Relief $7,500

Elite $10,000

Elite With Payment Relief $10,000

Freedom to Return Your Vehicle

Involuntary Unemployment

Physical Disability

Loss of Driver's License

International Employment Transfer

Self-Employed Personal Bankruptcy

Accidental Death

Temporary Job Loss

       

Mental Disability

       

Critical Illness

       

Death Due to Critical Illness

       

Freedom to Keep Your Vehicle

Payment Relief — Involuntary Unemployment

    3 Months*   6 Months**

Payment Relief — Physical Disability

    3 Months*   6 Months**

Additional Program Features

Rollover Deficiency Protection on Loan/Lease

No Age Limit

No Health Questions

No Employment Questions

* Includes coverage for one 90-day period
** Includes coverage for two 90-day periods
This represents a summary of coverage and is not a contract or part of the WALKAWAY agreement. Coverage may vary by state. Please consult the waiver or policy for complete details.

WALKAWAY for RV Customers

Covered Circumstances

Complimentary $5,000 (Under $25,000 Financed) $7,500 (Over $25,000 Financed)

Standard $5,000 (Under $25,000 Financed) $7,500 (Over $25,000 Financed)

Standard With Payment Relief $5,000 (Under $25,000 Financed) $7,500 (Over $25,000 Financed)

Freedom to Return Your Vehicle

Involuntary Unemployment

Physical Disability

Loss of Driver's License

International Employment Transfer

Self-Employed Personal Bankruptcy

Accidental Death

Freedom to Keep Your RV

Payment Relief — Involuntary Unemployment

    3 Months*

Payment Relief — Physical Disability

    3 Months*

Additional Program Features

Rollover Deficiency Protection on Loan/Lease

No Age Limit

No Health Questions

No Employment Questions

* Includes coverage for one 90-day period
This represents a summary of coverage and is not a contract or part of the WALKAWAY agreement. Coverage may vary by state. Please consult the waiver or policy for complete details.

Learn more about WALKAWAY for financial institutions »

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