WALKAWAY™ has cancelled over $80 Million in Canadian automotive debt, protecting Canadians from financial shortfalls and unexpected circumstances.
How it works
1. You buy a car from a WALKAWAY dealer.
You get one year of complimentary WALKAWAY coverage. Within 10 days of purchasing your car you can choose to extend your coverage for the full term with 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.
Help through the unexpected.
Why do 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.
- 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