VT - GAP insurance please help!

[samjfe1]

Hello

I have just started the process of returning my ALFA through a VT with FGA finance.
I have paid over 50% back (the car is nearly 3 years old, I had a 48 month PCP deal). They have tried scaremonger us during the whole process about what a terrible idea this is, we have pressed on and I have committed to buying a new car elsewhere.

The only bit that is confusing me is regarding GAP insurance - they are saying I owe £240+. I don't understand why. The GAP only cost £300 in the first place and was due to expire this September, having checked the GAP contract it says I am within my rights to cancel this any time so I'm not sure why I have a settlement figure? Please can someone advise?

Thanks

[R0b]

Re: VT - GAP insurance please help!

Hello, would need to see the agreement to work out whether it is payable and how much. Unless there is interest added to the GAP insurance you would only need to pay £150 at the most?

Usually they are incorporated into the total amount payable so you could actually argue as it forms part of that your liability is limited and not entitled to pay it