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?

We can assist

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.

A straightforward explanation

For example:

  • Outstanding loan balance: $23,000
  • Insurer payout: $16,000
  • In-store loyalty credit: $7,000

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.

*Vehicle Loss Privilege Program is not available in Quebec.