My in laws think that gap insurance will pay their car off?
Since my father in-law died my in-laws think that the gap insurance will pay their car off in full and they still have more car payments to pay.
Answer
That makes no sense. let me guess what you mean.
if he died, fax a copy of the death certificate to the lender and they will take the car and released the lien. if your in-laws co-signed for him on the loan, they now own that car and are responsible for the payments. co-signing should be called "co-owning" because you are just as much responsible for the car as the person you are signing for.
