Film, Media & TV5 mins ago
car h/p
I hope someone can help me here!! I bought a car on h/p two years ago (i took it out over 4 years) i handed the car back after 2 years., but i took out gap insurance with it and thought that it would be cancelled when i handed the car back, but the h/p company say that this cannot be cancelled and they will take me to court for the oustanding balance ! can anyone tell me if this is correct? thanx!!!
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For more on marking an answer as the "Best Answer", please visit our FAQ.Firstly, GAP insurance is only applicable for cars when they are written off - not for Voluntary Terminations.
Secondly, The time factor (2yrs of a 4 yr agreement) is irrelevant. You can only Voluntary Terminate after you have paid half the total amount (including deposits etc) - this is called the halves rule and would have been printed on the document.
Secondly, The time factor (2yrs of a 4 yr agreement) is irrelevant. You can only Voluntary Terminate after you have paid half the total amount (including deposits etc) - this is called the halves rule and would have been printed on the document.