Quick question about GAP cover!!!!

[WILLZIE]

Has anyone paid off their finance while still having VW GAP cover valid, I have 6 months left & didn't know if it has any impact, etc!!?.... 

[andrewparker]

It shouldn't do, it's only an insurance policy.

[Richn83]

They are seperate entities, one is to repay the amount you bought the car for, and the other is to make up the difference between the insurance replacement value of your old car (as paid by the insurance company based on write off or stolen) and buying an equivalent car.  For example you can have a GAP insurance policy if you bought the car outright with cash, its not just to make sure the insurance money can pay off the outstanding loan. 

[edd666999]

if you were now to crash and and the car was written off, your insurance would give you 10k and gap would then give you the difference between 10k and the invoice amount of the car.

[bacillus]

if you were now to crash and and the car was written off, your insurance would give you 10k and gap would then give you the difference between 10k and the invoice amount of the car.

That's assuming he originally bought a GAP to invoice policy...