Ok this is the scoup, I bought my bike and then refi,through my credit union. Better interest rate for sure. The loan officer mentiond to me to ask for the gap insurance from the original loan through Harley..Well it has been going on six months now and still no monies...I'm getting the run around so i feel. It's about $400 back in my pocket are monies to spend on my bike. So tell me what if any advice ya'll my have thanks...

 

I wasn't aware that you could receive monies back for gap insurance if you pay off the loan early. Might want to take a long hard look at the fine print of the gap insurance policy. If you are entitled to a refund of some sort, keep at them.

 

Indeed, you do get the remaining portion refunded. Give the copy of the GAP paperwork to your previous lender. I assume its Eaglemark? Contact them or the dealership. By law, they have to refund the difference.

This is just like cancelling an insurance policy. You are refunded a prorate portion. You can also contact the attorney general office in your state and they can contact the provider.

 

Yes if you pay your loan off early, The gap insurance is prorated for the length of the loan. I paid the loan off in 6 weeks, went to Harley and filld out some paper work, and every other time I have went by their and mentiond it. I havn't gotten any reasonable answer.

 

Attorney general, thanks I may have to give them a call.

 

2009D,
Ran into this with a car I refinanced. I had to go to the dealership where I bought the car(Acura) whom which I financed through(Honda) and they ended up cutting me a check for the difference. Pain in the a$$ tracking down the right people to talk to but in the end they cut me a check. Hope this helps.

 

Gap insurance should be cancellable and refundable,however there are other products out there that do the same thing but are not insurance. If you were sold a debt waiver policy it may not be refundable.

Good Luck

Tom