The questions to ask to help members protect themselves and their credit.
Do you have $3,000 sitting around and available if you get into a serious accident or your vehicle has a serious mechanical issue? Do you have another car to drive to work if your primary vehicle is no longer available?
If you answered NO to both of these questions then you are like the majority of Americans and like the majority of those coming to you for loans. Most people are much better served adding a few more dollars to their monthly loan payment to make sure they don¹t end up unable to afford a major repair when their vehicle breaks down.
Ask your members these questions and then let them know that you can provide them a loan that includes protection against these events and provide them peace of mind that they can avoid these financial strains. Even the best of vehicles are fragile machines. They do get totaled and do breakdown. Keep your members on the road by providing them GAP and mechanical breakdown protection.