How it works.
1 You buy a car from Yorkdale Ford Lincoln.
You get one year of COMPLIMENTARY WALKAWAY coverage… PLUS… We will also upgrade your coverage to BASIC WALKAWAY for the full term and give you options to extend your coverage for even more benefits.
2 Something unexpected happens.
You get sick, have an accident, become unemployed or experience another life-changing event and can no longer make your loan or lease payments on your car.
3 You return your car without penalty.
Depending on your coverage†, you can: Return your car without penalty or damaging your credit rating. Keep your car while WALKAWAY covers your payments.
†Coverage ranges from $7,500 to $25,000.
Why you need it.
Unless you have a substantial down payment or equivalent valued trade-in, your car loan or lease is always greater than the value of your vehicle throughout most of your term. This can leave you vulnerable should you hit an unexpected rough patch and no longer be able to make your payments.
WALKAWAY covers the difference between your car’s value and what you owe the financial institution – up to $25,000. It lets you ‘walk away’ without any impact to your savings or credit rating.
Return the vehicle and WALKAWAY pays the difference.
What you get with WALKAWAY.
Help through the unexpected.
While most plans provide coverage for only one or two life events, WALKAWAY covers many, including loss of employment.
- Involuntary unemployment
- Physical disability
- Loss of driver’s licence (age & medical)
- International job transfer
- Accidental death
- Self-employed bankruptcy
- Critical illness requiring hospitalization
- Death due to critical illness
- Temporary unemployment
- Mental disability
Coverage no matter what your situation.
Everyone qualifies regardless of age, health condition or employment record.
- No pre-existing health exclusions
- No health questions or good health statements
- Less restrictions and shorter waiting periods
- No employment questions
- No age limitations on complimentary coverage and less than 80 years of age on all upgrade plans
- Quicker claims settlement
- More claims paid
Protection and peace of mind.
WALKAWAY protects your finances, credit rating and your car.
Let’s say you hit an unforeseen rough patch and can no longer make payments on your car. WALKAWAY products cover the difference between the value of your car and what you owe the financial institution, up to $25,000, and let’s you return it.
Your credit rating is unaffected by WALKAWAY because it’s considered an early buy-out by your financial institution.
Some WALKAWAY products include payment relief options. Payments can be made on your behalf for up to twelve months. When your payments are exhausted, you can still return your car if your condition persists. Your dealer may also suggest an alternate vehicle option to you.
WALKAWAY gives you options.
We know everyone’s needs are different. That’s why we have several plan options available. Compare features to find the plan that best meets your specific needs.
1Loss of Licence for Age or Medical reasons only. 2Mental and physical disability. 3Physical disability only. 4International Job Transfer is not available in the province of Alberta. 5Accidental Death is not available in the province of British Columbia. 6Self Employed Bankruptcy is not available in the province of Saskatchewan. All full-term protection products are available on terms up to 96 months. This represents a summary of coverages and does not form a part of the certificate of insurance. Employment related coverages (excluding disability) begin on the 91st day. Please consult your certificate of insurance for complete details regarding how you qualify. Copyright © 2016, under licence to Insurance Insight Inc. All rights reserved, unauthorized use, reproduction, or disclosure is prohibited.
FREQUENTLY ASKED QUESTIONS
Critical Illness requiring Hospitalization are; Heart Failure, stroke, cancer, AIDS, multiple sclerosis, cystic fibrosis, Parkinson’s and Alzheimer’s disease, or ALS.
Customers of all ages qualify for the complimentary; customer must be less than 80 years of age for any upgrade.
Yes, each customer must purchase their own policy and two policies are generated by the Business Office.
“Financial Flexibility” with “Freedom of Choice” is commonly used by Business Managers during the turn-over process. See the Resource Centre for “Strategy and Wordtrack” document.
A customer can initiate a disability claim when they have been medically determined by a licensed physician (after the policy effective date), to be physically unable to perform the duties of their full time occupation for a period of 60 consecutive days and will be receiving ongoing medical treatment during the term of disability.
The 90 day period following the policy effective date is not a waiting period. WALKAWAY will not pay any employment related claims inside the first 90 days of any WALKAWAY policy. WALKAWAY will also not pay any employment related claim for anyone notified (publicly or internally) prior to or within the first 90 days of a policy effective date.
From information gathered from many WALKAWAY retailers, the consistent answer among sales consultants who are comfortable with the WALKAWAY program is “early in the customer experience”.
Yes, sales consultants commonly use “our unique vehicle return program” or “our loans and leases are structured with your financial flexibility in mind”. See the Resource Centre for “Strategy and Wordtrack” document.
All customers who finance or lease a vehicle from your dealership minimally will get Complimentary coverage. Loans or leases in a company name don’t qualify.
WALKAWAY is available on all new and pre-owned finance or leases
For more information please visit: http://walkaway.ca/