My wife totaled our car. No gap insurance?

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My wife totaled our car. No gap insurance?

WE still owe $13,000 for the car but the insurance company only wants to give us $11,000. Is there anyway we can get them to pay for the total amount of what we owe or do we have to settle for thier first offer?

2007-10-01 19:00:48 · 2 answers · asked by jason b 1 in Family & Relationships ➔ Friends

2 answers

You are stuck.
Pay the piper and next time get Gap Insurance when you finance.

2007-10-01 19:04:02 · answer #1 · answered by Captain Tomak 6 · 0⤊ 0⤋

Sounds like you bought insurance that would cover the current value of the car. Unfortunately, the car depreciated below the loan amount. Nothing you can do except pay the difference out of pocket. And next time buy a car with a good resale value.

2007-10-02 02:27:59 · answer #2 · answered by jellybeanchick 7 · 0⤊ 0⤋