Depreciation Protection Waiver (DPW)

Get more money back if your vehicle’s totaled or stolen.

A vehicle’s value depreciates fast. And that reduces how much your insurance company pays if there’s an accident and your car is a total loss, or if it's stolen. So you could end up losing a lot of what you’ve already paid towards your loan. But your positive equity is safe with Depreciation Protection Waiver (DPW) coverage.


DPW locks in your vehicle’s MSRP or retail value at the time that you purchase coverage. And it stays locked for the life of your loan. So if there’s a total loss, you can get paid the difference between that locked-in value and your loan balance.

For Example

$33,500 Vehicle MSRP

$10,000 Maximum Waiver Benefit (which can vary)

Age of CarOutstanding Loan BalanceDPW Benefit at Total Loss
At Purchase$29,800$3,700
6 months$27,517 $5,983
1 year$25,194$8,306
3 year$15,565$10,0001
5 year$5,344$5,344

How to Get It

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New Auto Loans

When you apply for an auto loan, select DPW and any other loan protection you’d like, right there in the application.

Existing Auto Loans

Because your vehicle’s value doesn’t lock in until you purchase DPW, it’s best to get it before driving off the lot. But we can add it to your existing Affinity Plus auto loan if you contact us.

Vehicles Not Eligible for DPW

Worth over $100,000



Recreational (ATVs, boats, campers, jet skis, motorcycles, snowmobiles, and trailers)

Cancellation Policy

If you cancel your DPW within 60 days, you’ll receive a full refund if no claims have been submitted. If you cancel after 60 days, refunds will be prorated.

Accidental Death Protection Included

This could cancel up to $1,000 of your outstanding loan balance.

Claims Process

Contact Your Auto Insurance Company2

First, file a claim with your auto insurance company or agent.

Confirm That It's a Total Loss

Next, verify that your vehicle’s been officially declared a total loss from damage or theft (and not recovered).

Report It to Affinity Plus

Report the claim to us and we’ll help you with the rest!


If your auto loan has a high loan-to-value (LTV) ratio, you’d probably benefit more from Guaranteed Asset Protection (GAP).

Josh, Minnesota Resident
Good to Know
  1. The Depreciation Protection Waiver (DPW) benefit won’t exceed the lesser of these 2 amounts: your Maximum Waiver Benefit and your loan balance at the time of total loss. Your Maximum Waiver Benefit can vary, depending on your level of coverage. You can find that amount in your waiver addendum, which you’ll receive when you purchase DPW.
  2. The primary applicant on the loan must be the one to file any claims, even if a joint applicant gets into an accident.