I purchased a car about 12 months ago and was recently involved in an accident which the insurance company have now decided to write off the car.
Got my settlement through but am trying to sort out the GAP insurance which is return to invoice policy.
As far as I was aware this policy refunds the difference between the settlement figure or current market (depending on which is higher) and the original invoice price.
However I just got a letter from the Gap Co stating that because the vehicle I purchased was at the time £500 less than what is stated as the current market value there is nothing for them to pay and have reimbursed my policy instead WTF.
How can a car bought from a main BMW dealer be worth more now than it was 12 months ago and have an extra 20k miles on it that is just ludicrous!
Got my settlement through but am trying to sort out the GAP insurance which is return to invoice policy.
As far as I was aware this policy refunds the difference between the settlement figure or current market (depending on which is higher) and the original invoice price.
However I just got a letter from the Gap Co stating that because the vehicle I purchased was at the time £500 less than what is stated as the current market value there is nothing for them to pay and have reimbursed my policy instead WTF.
How can a car bought from a main BMW dealer be worth more now than it was 12 months ago and have an extra 20k miles on it that is just ludicrous!
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