Imagine you bought your car on finance and it's unfortunately declared a write-off due to an accident, fire or theft. Imagine your car insurance company pay-out doesn't match your settlement figure for the remainder of your agreement.
For peace of mind and the protection of your vehicle needs, you should consider the cover Finance GAP can offer.
Picture this scenario:
You purchase a car at £18,000 on finance and a year later, it gets written off following an accident or theft. In this event, your car insurance then send you a cheque for the current market value (at the time of the accident) which amounts to £12,000.
However, you still owe the Finance Company £15,000. The GAP insurance may payout the £3,000 difference - it’s as simple as that!
With cover for up to three years, it doesn't matter how much your insurance company pays out: we'll make sure we cover the difference.