voluntary termination for cars GAP outstanding

[frankieo]

Please help,

I have invoked the Voluntary Termination as I have exceeded the 50% mark.
I have recieved my pack and it says I have an outstanding debt of £226.26, when I called today they advised it was my GAP payment.
I enquired why this was due as it was rolled into my full finance package and surely the end figure is what I was working with and I was only paying one payment per month for finance.

I was advised to contact the dealership direct as no details of who is responsible for GAP policy and as this was sold at the purchase of the car I have checked paperwork and no direct names.

also could you clarify how best to hand the car back, as it gives me some options

take it to an auction suggested by them - their closest one to me is a 50mile round trip, and return leg will be on public transport
or pay £75 for someone from the finance company to pick it up.
It is my understanding that once I settle my bill then I am no longer responsible for the car and it would be up to the finance company to make reasonable arrangements to collect their property.
many thanks for any guidance advise.

[R0b]

Re: voluntary termination for cars GAP outstanding

Hello

Please read this as your starting point

http://legalbeagles.info/forums/show...on-Your-rights

[des8]

Re: voluntary termination for cars GAP outstanding

It is upto you to cancel the GAP insurance.
The finance house have paid the 100% premium up front to the insurers.
They will be recovering that premium from you, and it is for you to negotiate a return of premium from the insurers when you cancel the policy.
It will depend on the wording of your policy, and the insurance company as to the amount of any return you receive.