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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 11155
Experience:  30 years as a practising solicitor.
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I bought a car on finance about 3 months ago, and paid 3 year

Resolved Question:

I bought a car on finance about 3 months ago, and paid 3 year GAP insurance of £400. This was added to my account as an additional charge. If I pay off my finance in full now, which I want and can do, can I recoup part of the GAP insurance. The finance company were unhelpful and said that the only possible means was to contact the GAP insurer direct. I don't know who they are. Would I have to go through the dealership to get an answer and the process to be followed?
Submitted: 1 year ago.
Category: Law
Expert:  JGM replied 1 year ago.
Thank you for your question.
Gap insurance is normally brokered by the finance company so it is not credible that th finance company can't tell you who the company is that provides the insurance and in any event it is a condition of the financial services regulations that you are told.
The dealer may be able to help but the finance company must tell you as a matter of law. The unexpired portion of premium should be refundable.
Please leave a positive response so that I am credited for my time.
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Customer: replied 1 year ago.

Thank you for help in suggesting a course of action which I will follow.

Expert:  JGM replied 1 year ago.
You're welcome.