Do I get a refund for gap insurance if I pay off my loan quickly?
I have a new car that I will be paying off early. Can I request a refund for the gap insurance I paid for?
May 03, 2021
Answer provided by
Answered at May 03, 2021
Gap InsuranceCar Insurance
“It never hurts to ask! If you are paying off your car loan early, you should be able to request a refund for your gap insurance.
You’ll want to reach out to your lender or dealership to confirm the terms and conditions of your loan. They’ll also be able to tell you whether or not you’re eligible for a refund.
Your refund typically depends on how you paid for your gap insurance. If the cost of your insurance is rolled into your monthly payments, you may not be eligible for a refund. However, if you paid for the total cost upfront, you most likely will receive something back. “
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