So the 2012 G37xS got written off 33,700$ in damages. MPI cut me a cheque for 47,800$

Question is, I have a loan for 66k (negative equity included from trade-in's) What do I do next? I have GAP insurance, I left some messages with them (fill in on website; they are supposed to contact me) But I want to know asap... I am going to contact Birchwood Infiniti as well, the cheque from MPI is made out to TD Auto Finance as well as me... so do I deposit the cheque and then transfer the funds? Will the dealer cut me a cheque for the difference and then GAP will pay them? I have no idea.

Either way, if I do not get an answer, I will come back to this post and tell about my experience.

 

Ewwww...you're definitely in a hairy situation. There are multiple flavors of GAP insurance and it really depends on which one you have. Mine, for example, will pay up to 50K if the insurance does not completely pay off my remaining balance and give me 1k toward the next car. Other's pay out at the most the "actual cash value" (sometimes plus an additional 25%). I assume your GAP insurance is with your insurance company, so hopefully that check didn't include the gap money as well.

I hope this works out in your favor.