Mechanical Breakdown Protection (MBP)
Your protection plan for the road ahead.
Beyond the factory warranty
Drive with confidence through Mechanical Breakdown Protection.
The joy of a new or used car can be overshadowed by the worry of unexpected and costly repairs down the road. While manufacturer warranties offer initial protection, that coverage eventually expires, leaving you vulnerable to potentially significant expenses. Mechanical Breakdown Protection (MBP) is a program designed to help you mitigate these risks and drive with greater peace of mind.
Think of MBP as an extension of protection for your vehicle's mechanical components after the original warranty ends. Instead of facing hefty repair bills for covered breakdowns, MBP can help manage those costs, providing financial security and preventing unforeseen strain on your budget.
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What it covers: MBP typically covers a range of mechanical and electrical components, which can include the engine, transmission, steering, suspension, electrical systems, and more. The specific components covered will depend on the level of protection you choose.
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Levels of coverage: As mentioned, MBP often comes in different tiers (like Elite, Enhanced, and Essential), offering varying levels of component coverage and additional benefits to suit different needs and budgets. Higher tiers typically offer more comprehensive protection.
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Cost considerations: MBP involves a premium, which can often be financed along with your vehicle loan. It's important to weigh the cost of the MBP against the potential expense of uncovered repairs over the life of your vehicle ownership.
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Where to obtain MBP: While often offered by dealerships as "extended warranties," MBP can also be obtained through University Credit Union. Comparing options from different providers can help you find the coverage that best fits your needs and budget.
Benefits beyond repair coverage
MBP plans offer additional valuable benefits, such as:
- Road hazard tire and wheel protection: Assistance with the cost of repairing or replacing tires and wheels damaged by road hazards like potholes or debris.
- Key replacement: Coverage for the often-expensive cost of replacing lost or damaged keys and key fobs.
- Paintless dent repair: Minor dents and dings can often be repaired without the need for costly bodywork and repainting.
- Windshield repair: Assistance with repairing chips or cracks in your windshield.
- Trip interruption reimbursement: If a covered breakdown occurs while you're traveling, some plans may reimburse you for expenses like lodging and meals.
Key considerations when evaluating MBP
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Review the coverage details: Carefully examine the specific components covered under each plan level. Understand what is included and, importantly, what is excluded.
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Compare providers and costs: Don't feel pressured to purchase the first MBP plan you're offered. Compare coverage levels, benefits, and costs. You can skip the dealership and get your auto loan with UCU and add MBP.
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Check the deductible: Most MBP plans have a deductible, which is the amount you'll pay out-of-pocket for a covered repair. Understand the deductible amount for each coverage level.
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Assess your vehicle's reliability and your risk tolerance: Consider the age and mileage of your vehicle (if used), its repair history, and your comfort level with potential unexpected repair costs.
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Consider the term and mileage limits: MBP plans typically have a specific term (e.g., number of years or miles) for which coverage is active. Ensure the term aligns with how long you plan to own the vehicle.
Frequently asked questions
- What exactly is Mechanical Breakdown Protection (MBP)?
MBP is an optional program that helps cover the cost of unexpected mechanical and electrical repairs to your vehicle after your manufacturer's warranty expires. It can save you from potentially expensive out-of-pocket repair bills.
- How is MBP different from my regular auto insurance?
Your auto insurance primarily covers damages resulting from accidents, theft, or other incidents. MBP, on the other hand, covers the cost to repair or replace covered mechanical components due to normal wear and tear or unexpected breakdowns.
- Why should I consider getting MBP through University Credit Union?
UCU offers competitive MBP plans that can provide substantial savings compared to extended warranties offered by dealerships. Plus, the premium can often be conveniently financed with your auto loan. Apply for an auto loan from UCU today.
- What types of vehicles are eligible for MBP?
MBP is typically available for most new and used cars. However, eligibility can depend on the vehicle's age, mileage, and type. Contact us to see if your vehicle qualifies.
- What does MBP typically cover?
Coverage varies by plan level, but generally includes major components like the engine, transmission, steering, suspension, and electrical systems. More comprehensive plans cover even more parts.
- Are there different levels of MBP coverage available?
Yes, UCU offers different levels of coverage to suit various needs and budgets. These levels have varying degrees of component coverage and additional benefits.
- What are some of the additional benefits that might be included with MBP?
Depending on the plan, you might receive benefits like road hazard tire and wheel protection, key replacement, paintless dent repair, windshield repair, and trip interruption reimbursement.
- Is there a deductible I have to pay if I use my MBP?
Yes, most MBP plans have a deductible, which is the amount you pay out-of-pocket for a covered repair. The specific deductible amount can vary depending on the plan you choose.
- How long does MBP coverage last?
MBP plans have a specific term, usually defined by a number of years or mileage, whichever comes first. You can typically choose a term that aligns with how long you plan to own your vehicle.
- Can the cost of MBP be included in my auto loan?
Yes, in many cases, the premium for your MBP can be conveniently financed as part of your auto loan. This can make it more manageable to budget for your payments.
- If I sell my car, is my MBP transferable?
The transferability of MBP can vary depending on the specific plan. Check the terms and conditions of your agreement to see if it can be transferred to a new owner.
- Is MBP required to get an auto loan from UCU?
No, MBP is entirely optional and is not required to obtain a loan from us. It's simply an available option to help protect your investment.
- How can I get a quote for MBP for my vehicle?
You can call us at 800.UCU.4510 to speak with one of our experienced loan specialists who can provide you with a quote and answer any further questions you may have.
- Where can I find the specific details and exclusions of the MBP plan I choose?
The complete terms and conditions, including a list of covered components and any exclusions, will be provided in your MBP agreement. It's important to review this document carefully.
- How do I file a claim if I need to use my MBP?
The process for filing a claim will be outlined in your MBP agreement. Typically, you'll take your vehicle to a licensed repair facility, and they will work with the MBP administrator to process your claim.
Ready for an auto loan?
Out team of certified experts is here to get you on the road! Save time with our easy online application and drive away today.
Important Note: Mechanical Breakdown Protection is not a requirement for obtaining a vehicle loan. It is an optional program designed to provide financial protection and peace of mind.
*Insurance products are provided by third parties, are not NCUA/NCUSIF insured, and are not Credit Union guaranteed. Discounts may vary and may not be available in all states. Purchase of Mechanical Breakdown Protection (MBP) is optional. The purchase of these supplemental coverages will not affect your application for credit or the terms of any existing credit agreement with University Credit Union. Eligibility requirements, conditions, and coverage exclusions may apply. Review your contract for a full explanation of the terms.