GAP CANCELLATION & REFUNDS

GAP Insurance Refund Calculator

Check the amount. Then follow the credit.

Use a confirmed method to estimate a refund, compare the administrator’s calculation, and check the payment. If the method is unknown, start with a record of what is missing.

USD · No sign-up · Your entered figures stay in this browser tab.

Use a fictional example:

JavaScript is required to run this calculator. Use the formula and refund record guide to check your documents manually.

1. Identify the method

Do you have the cancellation calculation method?

This version supports a confirmed time-based fraction only. A payoff or refinance alone does not establish eligibility, the method, or who receives payment.

Product named in your document

Where is the method confirmed?

My document confirms straight-line time pro rata for this cancellation. I have resolved any full-refund, free-look, claim or other exception.

2. Enter the confirmed inputs

Refundable GAP charge / base ($)

Time unit specified by your method

First day of coverage

First day after coverage ends

Effective cancellation date

Use the coverage boundaries and cancellation date confirmed for this refund. The end date here is exclusive: it is the first day no longer covered, not the last covered day.

Confirmed cancellation deduction ($)

Deduction basis

Enter $0 only if no deduction applies. An entered fee is not proof it is permitted. No claim deduction, interest, tax or extra credit is calculated. If your calculation needs these, request an itemized statement.

3. Compare the calculation and payment Optional

Leave unknown amounts blank. Enter $0 only when confirmed. Use amounts from the same cancellation and payment; combine partial credits only if you can trace them to that payment.

Administrator’s calculated refund ($)

Amount shown as issued ($)

Actual credit / cleared payment ($)

Recipient on the payment advice

Where the credit actually appeared

I checked privately that the contract, payment advice and actual credit refer to the same intended account or payees.

Do not enter names, account numbers, VINs or documents. This tool neither contacts the provider nor verifies its records.

Calculations run in your browser. Inputs are not stored or sent to Loanyzer’s calculation servers or analytics. Interaction events distinguish your entries from fictional examples.

How is this GAP refund estimated?

Refundable base × unused covered time ÷ total covered time − confirmed deduction = conditional estimate

The gross amount is rounded once to the nearest cent, with half a cent rounded up, before the entered deduction is subtracted. Day counts use the exact calendar dates and confirmed cancellation boundary. Whole-month counts come from your document; the calculator does not invent a 30-day month or round a partial month. A different contract rounding rule can produce a difference.

What does a difference mean?

“Estimate minus administrator” checks the calculation. “Issued minus posted” checks the payment. A positive difference is a question to resolve; a negative difference means the second amount is higher. Neither is a finding of misconduct or an amount you are guaranteed to recover. Even a $0 difference does not prove the correct account received the money.

What if I do not know the method?

Select “No — I need the method.” You can still record the administrator’s amount, payment advice and actual credit. Ask for the cancellation clause, effective date, counting rule, base and deduction breakdown before estimating. This version does not calculate Rule of 78s, short-rate or mileage methods, full-refund exceptions, interest or claim adjustments.

Two fictional checks

A — calculation: an invented whole-month clause gives $1,200 × 36/60 − $25 = $695. An administrator amount of $620 leaves a $75 calculation difference to explain. The $25 fee is an example, not a standard fee.

C — payment: an invented whole-month clause gives $900 × 24/36 = $600. If the notice says $600 was issued but only $450 appears on the loan, the $150 payment difference remains unresolved even though the administrator’s calculation matches.

Sources and scope

CFPB: GAP insurance and possible refunds explains the context; it does not supply a universal refund formula.
Isuzu Finance’s public medium-duty GAP addendum provides a real example of remaining-day pro rata with conditions and state variations. Its eligibility, fee and deadlines are not applied automatically to your case.
Capital One: GAP refund explanation illustrates a monthly calculation; it is not your contract.

Method 1.0.0 · Sources checked September 28, 2026 · Prepared by Loanyzer using AI-assisted research and automated calculation checks. No individual legal or contract review is represented.

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Use the GAP refund guide to request the calculation and trace the credit →

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