Gap insurance help

reggi2022

Can someone please tell me if this means I am in negative equity because the value of the car was lower than my settlement amount but I paid the difference ???

Dave_5150

reggi2022 said:

Can someone please tell me if this means I am in negative equity because the value of the car was lower than my settlement amount but I paid the difference ???

The RTI GAP payment + the insurance payout will equal the £11,762.31 invoice amount. The part exchange value and settlement figure are irrelevant.

BTW It isn't a good idea to include the £30 RFL in a finance agreement . You would have ended up paying around £42.50 for it over the 60 months (41.66% extra).