Reply
Page 1 of 2 1 2 LastLast
Results 1 to 30 of 36
  1. #1
    Registered User Brandan1997's Avatar
    Join Date: Dec 2014
    Age: 22
    Posts: 1,148
    Rep Power: 567
    Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500)
    Brandan1997 is offline

    Quick question on deductibles

    Quick Question:

    2018 Honda Civic that was leased got totaled.

    Insurance deemed the ACV at about 14K.

    I had a $1000 deductible so insurance paid Honda about 13K.

    Now Honda is saying I still owe a $1000 deductible because my GAP coverage doesnt cover that ? I know it doesnt cover excise tax, fees, tolls etc.

    This is basically me paying my deductible twice since my insurance already took $1000. Does this sound right to you ?
    Reply With Quote

  2. #2
    Registered User ClivesTriceps's Avatar
    Join Date: Nov 2019
    Posts: 497
    Rep Power: 4410
    ClivesTriceps is a glorious beacon of knowledge. (+2500) ClivesTriceps is a glorious beacon of knowledge. (+2500) ClivesTriceps is a glorious beacon of knowledge. (+2500) ClivesTriceps is a glorious beacon of knowledge. (+2500) ClivesTriceps is a glorious beacon of knowledge. (+2500) ClivesTriceps is a glorious beacon of knowledge. (+2500) ClivesTriceps is a glorious beacon of knowledge. (+2500) ClivesTriceps is a glorious beacon of knowledge. (+2500) ClivesTriceps is a glorious beacon of knowledge. (+2500) ClivesTriceps is a glorious beacon of knowledge. (+2500) ClivesTriceps is a glorious beacon of knowledge. (+2500)
    ClivesTriceps is offline
    GAP is supposed to cover the rest of the money your insurance won't cover. You shouldn't be out of pocket anything
    Yellow Fever Crew
    Rawdog Crew
    Trump 2020
    Reply With Quote

  3. #3
    RN and vette crew 1QWIK7's Avatar
    Join Date: Apr 2006
    Posts: 4,758
    Rep Power: 7876
    1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000)
    1QWIK7 is offline
    Originally Posted by ClivesTriceps View Post
    GAP is supposed to cover the rest of the money your insurance won't cover. You shouldn't be out of pocket anything
    This.

    That's the whole purpose of GAP, it pays for the "GAP" of both values.
    Schooling everyone that has to do with automotive one brah at a time. It's tiring but someone gotta do it lol


    I have a manual car but auto IS WAY BETTER THESE DAYS. ACCEPT THE FACTS BRAHS! LOL
    Reply With Quote

  4. #4
    Registered User Brandan1997's Avatar
    Join Date: Dec 2014
    Age: 22
    Posts: 1,148
    Rep Power: 567
    Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500)
    Brandan1997 is offline
    Originally Posted by 1QWIK7 View Post
    This.

    That's the whole purpose of GAP, it pays for the "GAP" of both values.
    Thats what I thought. I told the rep over the phone but he kept saying to me GAP doesnt cover a deductible ?
    Reply With Quote

  5. #5
    RN and vette crew 1QWIK7's Avatar
    Join Date: Apr 2006
    Posts: 4,758
    Rep Power: 7876
    1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000)
    1QWIK7 is offline
    Originally Posted by Brandan1997 View Post
    Thats what I thought. I told the rep over the phone but he kept saying to me GAP doesnt cover a deductible ?
    GAP covers the difference in what the insurance will pay for the car vs what it's worth.

    Car is worth 14k, insurance will pay 13k, GAP pays for the difference.

    I think you need to switch insurance companies.
    Schooling everyone that has to do with automotive one brah at a time. It's tiring but someone gotta do it lol


    I have a manual car but auto IS WAY BETTER THESE DAYS. ACCEPT THE FACTS BRAHS! LOL
    Reply With Quote

  6. #6
    Podunks Alt Account LtGoose's Avatar
    Join Date: Jan 2014
    Location: Dallas, Texas, United States
    Age: 28
    Posts: 12,625
    Rep Power: 41405
    LtGoose has much to be proud of. One of the best! (+20000) LtGoose has much to be proud of. One of the best! (+20000) LtGoose has much to be proud of. One of the best! (+20000) LtGoose has much to be proud of. One of the best! (+20000) LtGoose has much to be proud of. One of the best! (+20000) LtGoose has much to be proud of. One of the best! (+20000) LtGoose has much to be proud of. One of the best! (+20000) LtGoose has much to be proud of. One of the best! (+20000) LtGoose has much to be proud of. One of the best! (+20000) LtGoose has much to be proud of. One of the best! (+20000) LtGoose has much to be proud of. One of the best! (+20000)
    LtGoose is offline
    You're getting cucked
    I misc with no Avis so I can't tell if you're m/f/dolphin/F250 Super Duty V8 with 10-Speed automatic transmission and 19k lb towing capacity
    Reply With Quote

  7. #7
    Registered User Brandan1997's Avatar
    Join Date: Dec 2014
    Age: 22
    Posts: 1,148
    Rep Power: 567
    Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500)
    Brandan1997 is offline
    Originally Posted by 1QWIK7 View Post
    GAP covers the difference in what the insurance will pay for the car vs what it's worth.

    Car is worth 14k, insurance will pay 13k, GAP pays for the difference.

    I think you need to switch insurance companies.
    Well I have GAP through my Honda lease. Im gonna give them a call on Monday to see why I gotta pay my deductible twice
    Reply With Quote

  8. #8
    Registered User elterrible987's Avatar
    Join Date: Jan 2010
    Posts: 13,297
    Rep Power: 29868
    elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000)
    elterrible987 is offline
    a lot of retards in this thread.

    https://www.nationwide.com/personal/...ages/types/gap

    "Does gap insurance cover deductible costs?

    No. Even in the event of an accident covered by your gap insurance policy, you would still have to pay your deductible. In other words, if the “gap” reimbursement amount is $4,000 and your deductible is $500, your total reimbursement amount would be $3,500."
    Reply With Quote

  9. #9
    Registered User elterrible987's Avatar
    Join Date: Jan 2010
    Posts: 13,297
    Rep Power: 29868
    elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000)
    elterrible987 is offline
    Originally Posted by Brandan1997 View Post
    Well I have GAP through my Honda lease. Im gonna give them a call on Monday to see why I gotta pay my deductible twice



    If you already paid 1k out of pocket directly to your insurance then they should pay it to the title holder.


    IDK what you mean by your insurance already "took" 1k though.
    Reply With Quote

  10. #10
    Registered User elterrible987's Avatar
    Join Date: Jan 2010
    Posts: 13,297
    Rep Power: 29868
    elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000)
    elterrible987 is offline
    Originally Posted by 1QWIK7 View Post
    GAP covers the difference in what the insurance will pay for the car vs what it's worth.

    Car is worth 14k, insurance will pay 13k, GAP pays for the difference.

    I think you need to switch insurance companies.

    that doesnt have anything to do with a deductible though. Your small brain is confused by both the gap and the deductible being the same number. A lot of retards in this thread.
    Reply With Quote

  11. #11
    Registered User Brandan1997's Avatar
    Join Date: Dec 2014
    Age: 22
    Posts: 1,148
    Rep Power: 567
    Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500)
    Brandan1997 is offline
    Originally Posted by elterrible987 View Post
    a lot of retards in this thread.

    https://www.nationwide.com/personal/...ages/types/gap

    "Does gap insurance cover deductible costs?

    No. Even in the event of an accident covered by your gap insurance policy, you would still have to pay your deductible. In other words, if the “gap” reimbursement amount is $4,000 and your deductible is $500, your total reimbursement amount would be $3,500."
    Well my insurance paid Honda 13K after they took the $1000 deductible. Why should I have to pay a deductible twice ? Also on the Honda website it says it can cover up to $1000 deductible ? So im confused
    Reply With Quote

  12. #12
    Registered User elterrible987's Avatar
    Join Date: Jan 2010
    Posts: 13,297
    Rep Power: 29868
    elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000)
    elterrible987 is offline
    Originally Posted by Brandan1997 View Post
    Well my insurance paid Honda 13K after they took the $1000 deductible. Why should I have to pay a deductible twice ? Also on the Honda website it says it can cover up to $1000 deductible ? So im confused

    Did they tell you the car’s actual cash value (ACV) they used? also what was owed on the car?


    edit wait, nevermind yes that makes sense, they took out the deductible.

    What did you owe on the car?
    Reply With Quote

  13. #13
    Registered User Brandan1997's Avatar
    Join Date: Dec 2014
    Age: 22
    Posts: 1,148
    Rep Power: 567
    Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500)
    Brandan1997 is offline
    Originally Posted by elterrible987 View Post
    If you already paid 1k out of pocket directly to your insurance then they should pay it to the title holder.


    IDK what you mean by your insurance already "took" 1k though.
    I have a 1K deductible through my insurance.

    They deemed the ACV of my car at 14K.

    They only paid Honda 13K because they took my $1000 deductible from what the car was worth.

    Now Honda is saying I owe them $1000
    Reply With Quote

  14. #14
    Registered User elterrible987's Avatar
    Join Date: Jan 2010
    Posts: 13,297
    Rep Power: 29868
    elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000)
    elterrible987 is offline
    Originally Posted by Brandan1997 View Post
    I have a 1K deductible through my insurance.

    They deemed the ACV of my car at 14K.

    They only paid Honda 13K because they took my $1000 deductible from what the car was worth.

    Now Honda is saying I owe them $1000
    what was the loan amount that was remaining?


    GAP is only going to pay difference between the loan amount and the ACV.

    It makes sense that you owe your bank (honda) 1k.

    If you owned the car outright, and you totaled it, the insurance company is goign to cut you a check for the ACV - your deductible. SO they would only give you 13k just like they are giving the bank.


    But we cant answer the question really without knowing what you owe on the car to the bank.
    Reply With Quote

  15. #15
    Registered User Brandan1997's Avatar
    Join Date: Dec 2014
    Age: 22
    Posts: 1,148
    Rep Power: 567
    Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500)
    Brandan1997 is offline
    Originally Posted by elterrible987 View Post
    what was the loan amount that was remaining?


    GAP is only going to pay difference between the loan amount and the ACV.

    It makes sense that you owe your bank (honda) 1k.

    If you owned the car outright, and you totaled it, the insurance company is goign to cut you a check for the ACV - your deductible. SO they would only give you 13k just like they are giving the bank.
    I owed like 15K and change (including $700 excise tax and late fees). I would still owe $1100 after excise tax and late fees according to Honda.
    Reply With Quote

  16. #16
    Registered User Brandan1997's Avatar
    Join Date: Dec 2014
    Age: 22
    Posts: 1,148
    Rep Power: 567
    Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500)
    Brandan1997 is offline
    Originally Posted by Brandan1997 View Post
    I owed like 15K and change (including $700 excise tax and late fees). I would still owe $1100 after excise tax and late fees according to Honda.
    The ACV was 14K and change
    Reply With Quote

  17. #17
    Registered User elterrible987's Avatar
    Join Date: Jan 2010
    Posts: 13,297
    Rep Power: 29868
    elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000)
    elterrible987 is offline
    Originally Posted by Brandan1997 View Post
    I owed like 15K and change (including $700 excise tax and late fees). I would still owe $1100 after excise tax and late fees according to Honda.

    You owed 15k ACV was 14k. Regular insurance gave the bank 13k. (ACV -1k deductible) Gap insurance gave the bank 1k. (15-14k)

    Bank has only received 14k, they are wanting their 1k brah, thats you, thats the deductible.


    Thats what a deductible is. Lets say you crashed a car but it wasnt totalled, lets say it cost 5k to fix. You have to pay the first 1k, the insurance will pay 4k and you will be 1k out of pocket.
    Reply With Quote

  18. #18
    Registered User Brandan1997's Avatar
    Join Date: Dec 2014
    Age: 22
    Posts: 1,148
    Rep Power: 567
    Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500)
    Brandan1997 is offline
    Originally Posted by elterrible987 View Post
    You owed 15k ACV was 14k. Regular insurance gave the bank 13k. (ACV -1k deductible) Gap insurance gave the bank 1k. (15-14k)

    Bank has only received 14k, they are wanting their 1k brah, thats you, thats the deductible.


    Thats what a deductible is. Lets say you crashed a car but it wasnt totalled, lets say it cost 5k to fix. You have to pay the first 1k, the insurance will pay 4k and you will be 1k out of pocket.
    I thought GAP paid the difference of whatever I still owed the bank? It says they cover up to like $6500 of a difference of ACV and loan. Why would they only pay $1000?

    If my insurance took a $1000 deductible and Honda wants a $1000 deductible, thats me paying my deductible twice ?
    Reply With Quote

  19. #19
    Registered User elterrible987's Avatar
    Join Date: Jan 2010
    Posts: 13,297
    Rep Power: 29868
    elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000)
    elterrible987 is offline
    Originally Posted by Brandan1997 View Post
    I thought GAP paid the difference of whatever I still owed the bank? It says they cover up to like $6500?

    If my insurance took a $1000 deductible and Honda wants a $1000 deductible, thats me paying my deductible twice ?

    Gap doesnt pay for your deductible. At this point you havent paid anything out of pocket.Bank is only asking for the 1k.

    If you paid your deductible twice, you would be paying 2k.
    Reply With Quote

  20. #20
    Registered User Brandan1997's Avatar
    Join Date: Dec 2014
    Age: 22
    Posts: 1,148
    Rep Power: 567
    Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500)
    Brandan1997 is offline
    Originally Posted by elterrible987 View Post
    Gap doesnt pay for your deductible. At this point you havent paid anything out of pocket.Bank is only asking for the 1k.

    If you paid your deductible twice, you would be paying 2k.
    My car ACV was 14K. Insurance took 1K deductible. Technically I paid 1K since my insurance took their deductible. Does GAP insurance have its own deductible ? If so that makes sense. If GAP by itself doesnt have a deductible why should I owe Honda 1K for a deductible ? Wouldnt I just owe my insurance 1K if anything ?

    Is it that GAP covers your deductible OR the difference in ACV and the loan ? Not both ?
    Reply With Quote

  21. #21
    Registered User elterrible987's Avatar
    Join Date: Jan 2010
    Posts: 13,297
    Rep Power: 29868
    elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000)
    elterrible987 is offline
    Originally Posted by Brandan1997 View Post
    My car ACV was 14K. Insurance took 1K deductible. Technically I paid 1K since my insurance took their deductible. Does GAP insurance have its own deductible ? If so that makes sense. If GAP by itself doesnt have a deductible why should I owe Honda 1K for a deductible ? Wouldnt I just owe my insurance 1K if anything ?

    The insurance took out the deductible when they paid the bank. That is why the bank is asking for 1k and not your insurance.


    You havent "technically" paid anybody. The car is totalled and worthless.
    Reply With Quote

  22. #22
    Registered User Brandan1997's Avatar
    Join Date: Dec 2014
    Age: 22
    Posts: 1,148
    Rep Power: 567
    Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500)
    Brandan1997 is offline
    Originally Posted by elterrible987 View Post
    The insurance took out the deductible when they paid the bank. That is why the bank is asking for 1k and not your insurance.

    So my insurance theoretically paid Honda 14K, Honda paid my insurance 1K for the deductible and now Honda is looking for the 1K from me that they paid out ?
    Reply With Quote

  23. #23
    Registered User elterrible987's Avatar
    Join Date: Jan 2010
    Posts: 13,297
    Rep Power: 29868
    elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000)
    elterrible987 is offline
    Originally Posted by Brandan1997 View Post
    So my insurance theoretically paid Honda 14K, Honda paid my insurance 1K for the deductible and now Honda is looking for the 1K from me that they paid out ?

    I already did the math above. No honda wouldnt pay your insurance.
    Reply With Quote

  24. #24
    RN and vette crew 1QWIK7's Avatar
    Join Date: Apr 2006
    Posts: 4,758
    Rep Power: 7876
    1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000) 1QWIK7 is a name known to all. (+5000)
    1QWIK7 is offline
    Originally Posted by elterrible987 View Post
    that doesnt have anything to do with a deductible though. Your small brain is confused by both the gap and the deductible being the same number. A lot of retards in this thread.
    Where in my post did i mention a deductible?

    Looks like you wanted to be too quick to show off your google skills. Relax brah.
    Schooling everyone that has to do with automotive one brah at a time. It's tiring but someone gotta do it lol


    I have a manual car but auto IS WAY BETTER THESE DAYS. ACCEPT THE FACTS BRAHS! LOL
    Reply With Quote

  25. #25
    Registered User IronProdigy's Avatar
    Join Date: Jan 2016
    Location: United States
    Posts: 1,091
    Rep Power: 6771
    IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000)
    IronProdigy is online now
    I'm confused. Did you actually give your insurance company $1000 or not? You're insurance company deemed the ACV of the car to be 14K, so that is what they gave to the bank. The Gap insurance will cover whatever is left over that you owe. However, you still owe your insurance company the $1000 deductible, not the bank.
    Reply With Quote

  26. #26
    Registered User Brandan1997's Avatar
    Join Date: Dec 2014
    Age: 22
    Posts: 1,148
    Rep Power: 567
    Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500)
    Brandan1997 is offline
    Originally Posted by IronProdigy View Post
    I'm confused. Did you actually give your insurance company $1000 or not? You're insurance company deemed the ACV of the car to be 14K, so that is what they gave to the bank. The Gap insurance will cover whatever is left over that you owe. However, you still owe your insurance company the $1000 deductible, not the bank.
    My insurance company deducted my $1000 deductible from what the car was worth. ACV was 14K. They deducted 1K. 14K-1K=13K. My insurance paid Honda bank 13K
    Reply With Quote

  27. #27
    Registered User IronProdigy's Avatar
    Join Date: Jan 2016
    Location: United States
    Posts: 1,091
    Rep Power: 6771
    IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000) IronProdigy is a name known to all. (+5000)
    IronProdigy is online now
    Originally Posted by Brandan1997 View Post
    My insurance company deducted my $1000 deductible from what the car was worth. ACV was 14K. They deducted 1K. 14K-1K=13K. My insurance paid Honda bank 13K
    That should not have happened. How do you know they only paid 13K? They're supposed to have paid Honda the full 14K and then seek out the 1k deductible from you. I would call them on Monday and find out how they're handling the process. Honda should not be harassing you at all. The only party that should be seeking retribution is your insurance company and that is for the deductible. You should only be out $1000 for this entire fiasco.
    Reply With Quote

  28. #28
    Registered User Brandan1997's Avatar
    Join Date: Dec 2014
    Age: 22
    Posts: 1,148
    Rep Power: 567
    Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500)
    Brandan1997 is offline
    Originally Posted by IronProdigy View Post
    That should not have happened. How do you know they only paid 13K? They're supposed to have paid Honda the full 14K and then seek out the 1k deductible from you. I would call them on Monday and find out how they're handling the process. Honda should not be harassing you at all. The only party that should be seeking retribution is your insurance company and that is for the deductible. You should only be out $1000 for this entire fiasco.
    On my Honda account it states my insurance company paid 13K. My insurance company sent me a letter outlining the ACV of 14K and subtracting 1K for my deductible and paid Honda the 13K. Thats why im so confused why Honda is also asking me for 1K.
    Reply With Quote

  29. #29
    Registered User Brandan1997's Avatar
    Join Date: Dec 2014
    Age: 22
    Posts: 1,148
    Rep Power: 567
    Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500) Brandan1997 is a jewel in the rough. (+500)
    Brandan1997 is offline
    Somebody confirm this:

    So is it that GAP only covers from the ACV of the car and what I owe ?

    So the ACV is 14K. I owed 15K left. Insurance paid Honda 13K after deductible.

    GAP would only cover 1K because thats the difference of the ACV and my lease.

    13K + (GAP) 1K = 14K


    Is that why Honda is looking for the 1K ?

    I just figured GAP covered whatever I owed left not just the difference between the ACV and my lease ?
    Reply With Quote

  30. #30
    Registered User elterrible987's Avatar
    Join Date: Jan 2010
    Posts: 13,297
    Rep Power: 29868
    elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000) elterrible987 has much to be proud of. One of the best! (+20000)
    elterrible987 is offline
    Originally Posted by 1QWIK7 View Post
    Where in my post did i mention a deductible?

    Looks like you wanted to be too quick to show off your google skills. Relax brah.

    Youre telling him he shouldnt be out of pocket anything and that gap should pay for his deductible. For a self proclaimed "car person" youre an idiot and he shouldnt listen to you.
    Reply With Quote

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
www.000webhost.com