Major Mechanical Protection, commonly referred to as MMP, is an income-generating product that financial institutions can add to their vehicle purchasing options to protect their borrowers from out-of-pocket repair expenses.
MMP provides coverage for major mechanical repairs for vehicles, including:
- Engine
- Transmission
- Front- and rear-wheel drive
- Front suspension
- Steering
- Brakes
- Electrical
- Air conditioning
An SWBC representative will assist you in the step-by-step process to get the program launched at your institution.
Prior to the program launch, SWBC will equip your loan officers with all of the training and materials necessary to sell the MMP program to your borrowers. Your employees will be trained to use UNITY®, SWBC’s proprietary quoting tool offered free of charge to our clients.
UNITY® seamlessly interfaces with most loan origination systems, eliminating toggling between applications, to help your loan officer save time and reduce errors when quoting combined loan payment rates. UNITY® allows users to give borrowers an accurate forecast of the predicted payment with supplemental MMP coverage by instantly pre-populating payments.
Upon implementation, SWBC will provide marketing support necessary to promote the program within your institution. We offer various forms of print and electronic marketing collateral, including but not limited to lobby brochures, plasma messages, and weblet® applications to use on your financial institution’s homepage. SWBC’s internal marketing department can work with your financial institution’s marketing efforts to maximize program exposure to your borrowers to generate increased interest.
MMP coverage can save borrowers from out-of-pocket repair expenses, and our program is often a better value than other warranties. And since there are varying types of MMP coverage available, borrowers have the freedom to choose a policy that works for them. The policy is fully transferrable and can be added to existing loans and on new/used vehicles. Some programs offer a convenient 24-hour Roadside Assistance benefit, offering emergency tire repair, lost key and vehicle lockout services, and trip interruption expense reimbursement—just to name a few.