i just had my car total because of a storm, the insurance to

by fvandaltreck » Mon Nov 12, 2012 11:31 pm

i just had my car total because of a storm, the insurance totaled it and offored me $14000 which was $3000 less than what the pay off amount is. i decided to keep the car and the insurance subtracted the salvage value of $4000. i do have gap insurance, my question is that will Gap still pay the difference since i have decided to keep my car?

Total Comments: 2

Posted: Tue Nov 13, 2012 01:39 am Post Subject:

They should not. Up to them, though. Every time I've dealt with them they want to see the payout information from the insurance company. This will most likely show them the deduction for you keeping the vehicle.

I also have no idea why your lender would allow you to keep the vehicle. This means that instead of them being out $3000, they are now out $7000. That makes no sense.

Posted: Tue Nov 13, 2012 10:59 am Post Subject: thanks for the reply

The reason am keeping the car is that I had a mechanic check the car and he said its fixable and haven payed so much on the car already I thought I rather keep it instead of just letting go and have to start all over again.now I did talk to the bank that holds the lien and they told me that its up to the insurance company who can make that call of me keeping the car.the bank said they will not give me the title but the title will rather go to the insurance company. Now the dealer also did charge me about$2500 for service contract. I don't even know what that means but I was told the dealer will give some of that money back if not all of it..I'd this true.?

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