Finances & Money

More Cash Back from Our Chevy Malibu Sale

Two checks came in within the last week in relation to our Chevrolet Malibu that we sold in August:

  1. A check for $818 from the GM Protection Plan extended warranty. We purchased this extended warranty for about $1,400 new, before we knew that we could just get it when we needed it near the end of the regular warranty. As a side note, I also have an extended warranty on my Honda Ridgeline, but I get a full refund if I cancel as long as I never use it.
  2. A check for $297.50 from the GAP insurance. When we bought the Malibu, we rolled in a wad of negative equity, so we paid $500 for GAP insurance. GAP insurance covers the balance between what the insurer pays and what you owe on the loan in the case of a total loss claim on the vehicle.

While I knew I could claim a refund when I canceled the extended warranty (the new owner couldn’t afford to buy it), I didn’t know I could get a refund on the GAP insurance. Luckily, when I went into the dealer to cancel the warranty, I happened to ask about a refund for the GAP, and sure enough I could get one. The second surprise came when I opened the mail today and saw a check for a good bit more than I was expecting.

This $1,115.50 plus the $10,500 from the sale of the Malibu will go towards Stacie’s next vehicle. More to come on this Tuesday.

Feeling Clever? Join our newsletter!

Subscribe to get the latest from "Clever Dude."

Powered by ConvertKit

About the author

Clever Dude


Leave a Comment