Business ProfileforPremier Dealer Services

Do not use this company period. Their terms and conditions cover only up to their estimated actual cash value of the vehicle. They will not cover the gap between the vehicle and the loan which is the entire point of the *** insurance coverage. They sold me something I could never use and refused to pay out leaving me with thousands in debt after a total loss from a hit and run.

Hello. Please be advised that your GAP Waiver was purchased from the Dealer and not us. The Waiver is an agreement between you and the Dealer, with your *************** being a successor in interest, and is an addendum that attaches to and forms a part of your Finance Agreement. Our involvement is solely to provide limited administrative services to the Administrator, ***********, which includes gathering documentation when you request a benefit. The Waiver provides that in the event of a Total Loss, the Dealer/*************** will waive the difference between the Unpaid Net Balance and the Actual Cash Value, as those terms are defined in the Waiver. In this case, a benefit of $0.00 was authorized. This does not mean that a waiver benefit was denied; rather, it indicates that the Unpaid Net Balance, as defined by the Waiver, was less than the Actual Cash Value, as defined by the Waiver, which results in no waiver being due and owing to you. On review of our file, it appears that the waiver benefit calculation was affected by the Loan-to-Value ratio on the date you purchased your Vehicle. Per the terms of the Waiver, no benefit is provided for any portion of the Unpaid Net Balance resulting from financing exceeding 150% of the ******** Official Used Car Guide Retail value for used vehicles. Note that ******** merged with and into **** Power. Our records show that your Vehicle was purchased used, and financed at greater than 150% of the **** Power retail value for your Vehicle. This is not our estimated actual cash value, but rather the valuation of a trusted used car valuation service on the date of purchase. Unfortunately, this impacted the Unpaid Net Balance in the waiver benefit calculation. Thank you.