Tricare TCX Paint Protection

Our advanced Carbon Polymeric Paint Coating offers the best exterior paint protection available in the industry. Tricare TCX is an eco-friendly exterior paint treatment free from volatile organic compounds (VOCs) and specifically formulated to bond directly to your vehicle’s clear-coat finish.

Professionally applied by trained technicians, this protection provides a lasting protective barrier and creates a smooth, easy-to-clean surface that resists adhesion and protects against the damaging effects of ultraviolet (UV) rays.

Tricare CeramX Paint Protection

Tricare CeramX is the next evolution in maintaining any vehicle’s paint finish. Our specialized Silicon Carbide Ceramic Coating was engineered by the same scientist that brought clear-coat technology to automotive paint. As such, our formulation has been specifically designed to activate with the clearcoat of any vehicle, forming a more hydrophobic durable extension of its paint instead of residing on top as many other silicon dioxide ceramic and polymer products do.

Both Tricare TCX and Tricare CeramX protect against permanent paint damage from:

• Tree sap
• Bird droppings
• Insects
• Road tar
• Acid rain
• Industrial fallout
• Oxidation and loss of gloss

A one-time, permanent treatment for interior surfaces of the vehicle, including seats, armrests, headrests, carpets, dashboards and door panels.

The special formula works equally well on both leather and fabric and does not change the natural feel or look of your interior. It provides a powerful and invisible barrier that remains effective even after numerous spills.

The treatment protects your vehicle’s interior against permanent stains from food, beverages, oil, grease, urine or similar liquids. As an added bonus, it includes coverage for accidental rips, tears and burns on seats, headrests, interior cloth, carpets and the dashboard.

The Tricare Cosmetic Rust Warranty is automatically applied with the purchase and application of both the Electromagnetic Corrosion Protection Module (TC-4000 or BHP-5000) and TCX Paint Protection.

What our warranty includes:

2-part warranty: The first part of the warranty is defined as a paint bubble on the painted outer-body sheet metal panel where no rust and/or bare metal is showing and the paint is not broken, cracked, split, chipped, peeled, delaminated, flaked, worn off or missing around or leading up to the paint bubble.

The second part of this warranty coverage is defined as surface rust damage where the paint is missing, and the surface rust area is at least two centimeters in diameter or larger. The covered areas of your vehicle are the outer-body sheet metal panels — ones that are finish-painted and that someone can see when walking around the vehicle. These areas are the roof, rear quarter panels and front fenders. The doors, engine hood, trunk lid and tailgate are also covered for paint bubbling and cosmetic rust damage that is visible from the exterior of the vehicle, when these panels are in their closed position.

Thieves Avoid Vehicles That Are Traceable

Replacing the etched components of the vehicle is too time-consuming and too expensive to be profitable.

BUT if your vehicle is stolen

• A Benefit of $3,500 This benefit is paid should your vehicle be stolen and not recovered in 30 days, or if the vehicle is recovered but is damaged to the extent it is determined to be a total loss.
• 5% Discount In the event your vehicle is stolen and recovered in a damaged condition but is not a total loss, you will be entitled to a 5% discount (maximum value of $500) on vandalism repairs at your issuing Tricor dealership.
• Reimbursed for Actual Expenses If you are travelling more than 150 kilometres from your home and your vehicle is stolen, you will be reimbursed for actual receipted expenses as follows, provided a replacement vehicle is acquired:- $30 per day for substitute transportation for a maximum of 20 days- $80 per day for room and board for a maximum of 5 days
• Airfare If your vehicle is stolen more than 750 kilometres from your home, you will be entitled to reimbursement for a one-way airfare ticket (maximum value of $600).

The majority of vehicles purchased in Canada are financed with loans. The total cost of the vehicle is financed over the term of the loan, at which time the buyer owns the vehicle after the last payment is made.

Personal Versus Vehicle Loan

The most common method of purchasing a vehicle is by borrowing the money and repaying it in set monthly installments. This can be done either by taking out a Personal loan or a Vehicle loan. Most Personal loans are unsecured, meaning there is no collateral for the money being borrowing and the funds can be used for any purpose.

A Vehicle loan differs from a Personal loan because the money can only be used to purchase a vehicle. A secured loan means the vehicle serves as collateral against the loan. With security backing the loan application, there is usually a higher chance of approval and lower interest rates compared with an unsecured personal loan.

The Benefits of a Vehicle Loan

• Lower interest rates (compared to an unsecured personal loan) with terms up to 84 months or longer
• Reduced interest rates offered as manufacturer incentives for both New and Certified Pre-owned vehicles
• Fixed interest rates and will not vary during the term of the loan
• Open loans and can be paid off at any time without penalty

In Canada, leasing accounts for nearly a third of new vehicle sales. Pre-owned vehicles may be eligible for leasing as well. In a lease, the amount financed is based upon the initial cost of the vehicle and the Residual Value (RV). The RV is the amount the vehicle will be worth at the end of the term of the lease, based on an estimate of the lessor (the owner).

Types of Leases

When considering leasing a vehicle, it is important to determine what type of lease is most appropriate. There are two main types of leases: closed-end and open-end.

Closed-end Lease In a closed-end lease, the lessor of the vehicle is responsible for the RV of the vehicle, and the lessee has the option of either returning the vehicle at the end of the lease or buying it back from the lessor at the RV specified in the lease contract. New vehicle manufacturer leases are closed-end. At the end of the lease, if the option to buy the vehicle at the specified RV is not exercised, the lessee is responsible for paying for any damages that go beyond normal wear and tear and/or excess mileage charges that cause the vehicle to be worth less than the specified RV. Most closed-end leases also have a maximum mileage limit for the term, usually based upon annual mileage of between 16,000–24,000 kilometres. If this limit is exceeded, a specified per kilometre overage fee is charged at the end of the lease term.

Open-end Lease An open-end lease allows the lessee to guarantee the value of the vehicle at the end of the lease. This is called the Guaranteed Residual Value (GRV) and is specified in the lease contract. The lessee has the option of purchasing, selling or trading in the leased vehicle at the end of the contract for the GRV, provided the vehicle is worth at least that amount. If the market value of the vehicle is less than the GRV at the end of the lease, the lessee is responsible for the difference if they wish to return it to the lessor. For example, if the GRV is $16,000 and the market value for the vehicle is only $14,000 at the end of the contract, the lessee will be responsible for paying the difference of $2,000. Open-end leases are more common in business and commercial leasing. The person or company leasing the vehicle takes on the RV risk, and leasing terms may be more flexible.

The Benefits of Leasing

• New vehicle ownership every 2 to 4 years
• Shorter-team leases mean vehicle often still covered by OEM warranty
• Drive a more expensive model than anticipated
• Closed-end leases can protect you from risk of negative equity at lease end

The Benefits of Financing Through a Dealership

• Convenient, "on the spot" finance solution and expert advice
• Dealership finance specialists can negotiate the best terms and conditions on your behalf
• Access to Incentivized Finance Rates from the manufacturer
• Access to most or all of the major banks and other lenders
• Access to lenders that specialize in assisting credit-challenged buyers
• Fast approval and funding

Cash from Lines of Credit

Industry statistics show the majority of vehicles sold are financed by a loan or a lease. Bank studies indicate only a very small percentage of vehicle purchasers are true cash buyers. This is not surprising as Statistics Canada reports that the cash savings for the average Canadian family in 2018 was only $852.

However, there are 5 good reasons not to use a LOC to finance a vehicle:

1. Although there are many types of LOCs, most are are secured by home equity LOC (HELOC).
2. The LOC is a demand note, i.e., the financial institution can demand repayment of the full amount owing at any time.
3. The interest rates are variable and can be raised at any time by the financial institution.
4. The financial institution can raise or lower the credit limit on an HELOC.
5. LOCs are designed as an interest-only loan.

The last point is very important. Financial institutions are in the business of lending money and collecting interest on those loans. An LOC is a revolving form of credit usually allowing interest-only payments to be made on the outstanding balance. Unfortunately, if a set monthly payment towards the outstanding balance is not made, it is possible that the loan will never be paid off, resulting in higher overall interest charges than a conventional loan, despite the lower interest rate of the LOC.

An IPSOS study of Canadian consumers conducted in 2018 revealed that 25 percent of respondents said they only made the interest payments month to month and that most consumers do not repay their HELOC in full until they sell their home. Financing with an LOC may result in a balance still owing when it comes time to sell or trade the vehicle.

In short, using an LOC to purchase a vehicle is not a wise financial decision.

Cash from Savings Instruments

Guaranteed Investment Certificates (GIC), Tax Free Saving Account (TFSA), Registered Retirement Savings Plans (RRSP).

Withdrawing money from a GIC, a TFSA, or an RRSP also allows the cash purchase of a new vehicle. Unfortunately, withdrawing those savings could result in negative tax consequences, i.e., paying income tax on the amount withdrawn. In most cases, leaving money invested is a wiser financial move as it continues to earn interest and appreciate as originally intended.

• Of all loans that become delinquent in Canada, 3% are due to the unexpected death of the main household income earner, and 50% are due to loss of income relating to a disabling accident or illness.
• Canadians between the ages of 20 and 65 have a 50% chance of having a disability that lasts longer than 3 months.
• Canadians aged 35 to 54 are hardest hit by unforeseen healthcare costs.
• 76% of working Canadians state serious financial effect for their family if disability keeps them out of work for 3 months.

Tricare Debt Protect provides you with peace of mind knowing that the coverage you select will protect you from financial hardship and the negative effects on your credit if you are unable to make your loan payments due to an unexpected life event.

Please ask your Tricor dealer for full program and contract details regarding qualifications, conditions, requirements and coverage.

Tricare Debt Protect is fully insured by licensed Canadian insurance companies.