Being absolutely badgered to death about taking out this GAP insurance on my new car that's coming this week sometime.

I seem to have managed quite successfully without for the last 40 odd years, so why all this..... "BUT YOU REALLY REALLY need to take it out, and you must seriously consider it or it could spell the end of the world"..... type stuff/guff.

 

OK, I mad that last bit up, but you get my drift.

Extreme high pressure on this one, and when I said "no thanks", he went and got the sales manager out to apply more bloody pressure on me.

 

1 more sale to earn him an all expenses paid weekend away in Prauge p'raps, or am I just being a very cynical old goat?  :think:

Edited 27 April, 201412 yr by Mr Ree

For a hundred quid for 3 years from one of many online providers I think its not much for the peace of mind. However, dealer rates are comical.

 

My car has horrific depreciation, so I got it because if its written off in a couple of years time, I would get back pennies from the insurer.

Apologies if this has been done to death in the past.

 

I am open to reasoned arguments FOR on this one btw.

Just don't like this pressurisation guff nonsense, telling me that I could learn to regret it if I don't etc.

 

Same could be said for ANY insurance I guess.

It's just sell sell sell ey?

 

Anyone in here ever had reason to claim on one of these GAP policies, in which case, how did it go?

Edited 27 April, 201412 yr by Mr Ree

As a matter of principle I've resolutely refused the offer of either GAP +/- diamond brite on any new car I've bought (without finance).

 

If however finance is involved, GAP may well make sense, given the potential for the amount owing to exceed the value of the car. Most car insurance policies do however include a clause to put you back in a new car, should you suffer a total loss in the first year.

 

Might be best to get a quote for GAP from a provider other than the dealership and use this as a bargaining chip - i.e. see if they can match it.

 

A family member in the motor trade told me some years ago the margin on GAP was of the order of 80% profit for the dealer!!

Many factors to look at, including,

Are you buying it, Cash Money, own it from the start go,

financing it,  borrowing from someplace else etc.

 

george

Apologies if this has been done to death in the past.

 

I am open to reasoned arguments FOR on this one btw.

Just don't like this pressurisation guff nonsense, telling me that I could learn to regret it if I don't etc.

 

Same could be said for ANY insurance I guess.

It's just sell sell sell ey?

 

Anyone in here ever had reason to claim on one of these GAP policies, in which case, how did it go?

agree with them yes "I may regret it" so shop around and buy from a more competitive provider. After all it is just a simple insurance product.

When I was looking for an MX5. I test drove one at the Peebles Mazda dealer a 2.0 option pack current demo. the test drive experience was second to none. Salesman gave us the keys sent us off with the car for a whole afternoon.

I was at the point of buying from him and bringing the price down to a comparable level with what else I had viewed elsewhere. He seemed hell bent on trying to sell me Lifeshine which I did not want. I kept telling him this but it fell on deaf ears. When I made a final bid for the car he got up and stormed off. My logic was that if lifeshine is so god then a small dealership would already have their demo fleet done with it so that the car is presented in tip top condition. But like many say along with GAP lifeshine is a good way for salesman to earn commission.

If you want GAP go elsewhere just like you would shop around for any insurance policy.

Edited 27 April, 201412 yr by loskie

I'd go with it, but buy it online for much less than the dealer will want. 

Yes seems a no brainer to me

or am I just being a very cynical old goat?  :think:

 

No, you're not.....

As above..if the car is on finance I would 100% get it. Regardless of depreciation etc you will always owe more than the vehicle value due to interest etc. Don't buy it from the dealer but either get it online or go direct to the finance company. On my last financed car the dealer wanted £350 odd for it yet the finance company wanted a mere £85. Spread that over the months and its not a lot for piece of mind.

All insurance depends on your attitude to rick. If you can afford to an are prepared to accept the potential loss then tell the dealer to stuff it.

Alternnativly find a cheaper option on line and tell teh dealer you already have cover. Pee him off big time!

I did take GAP on the Octy as it is on PCP. I did this because I was concerned that in the event of a total loss accident I did not want to be in a position where the car is worth x but finance is owed y, where x - y = negative number. However, do not pay what the dealer wants as it will be over priced. Check the Which web site for ideas and also contact Chris Knott Insurance, one of the site sponsors who will do a very good deal.

Gap can be a good idea whether you take the vehicle on finance or pay cash, the vehicle will lose value either way and you can protect the full purchase price or future replacement cost.

 

My view is do not buy from the dealer though. Putting the obvious price differences aside, the policies often do not have the features the online providers do. For example most of the better online providers will allow you to transfer the cover if you change the vehicle early, defer the start date if you have replacement cover with your motor insurer, or cover the costs of Paint Protection and other accessories. Very few dealer products do.

 

As has been mentioned before, a three year online policy will be £100ish, whereas the dealer ones are £300 plus. In my view I have not seen a dealer product that can touch the better online equivalents either.

The gap on mine is £300 i think

But you don't have to pay it until the last month. So no initial outlay.

Seems good for peace of mind. When your getting to the end of the term your just praying for someone to t-bone you lol

As others have said, if on finance I would definitely get it! But not from a dealer!! I got it for my Citigo from ALA it was £64 for a three year policy on return to invoice, the best skoda could offer was £399!! And the policy covered exactly the same!

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Do you have a record of writing new cars off? If you do (or someone who will drive it does) it might be worth getting GAP, but not from the dealer as he's just trying to wring more from you/make his quota up. Don't forget most insurers will replace a car that is less than 12 months old that's been written off with a new one anyway so if yours will there's no point in doing it untill the car is 12 months old anyway?

Do you have a record of writing new cars off? If you do (or someone who will drive it does) it might be worth getting GAP, but not from the dealer as he's just trying to wring more from you/make his quota up. Don't forget most insurers will replace a car that is less than 12 months old that's been written off with a new one anyway so if yours will there's no point in doing it untill the car is 12 months old anyway?

Interesting that. I'll check with my insurance to see if that applies to me.

Never written a car off I'm glad to say.

 

 

Thanks for all the advice anyway everyone.

I'm going to check online for quotes, and will see if it's worth hanging on for 12 months anyway.

 

Skoda dealer wants £10 per month btw = £360

Edited 27 April, 201412 yr by Mr Ree

Thanks for all the advice anyway everyone.

I'm going to check online for quotes, and will see if it's worth hanging on for 12 months anyway.

 

When looking around do check when the GAP insurance must start. Whilst some may delay cover for a year as your insurance company essentially covers you (though do check), it may be that the GAP policy must be in force within a certain period of time after taking delivery of the car.

It doesn't matter if you have never written a car off in a million years

There are still numptys on the road that are likely to have an accident and collect you along with it

It doesn't matter if you have never written a car off in a million years

There are still numptys on the road that are likely to have an accident and collect you along with it

Yea, I know that. I was mearly answering Littleades question.

As above..if the car is on finance I would 100% get it. Regardless of depreciation etc you will always owe more than the vehicle value due to interest etc. Don't buy it from the dealer but either get it online or go direct to the finance company. On my last financed car the dealer wanted £350 odd for it yet the finance company wanted a mere £85. Spread that over the months and its not a lot for piece of mind.

Actually if you put a reasonable deposit into the finance then there is little chance you will owe more on the finance than the vehicle is worth. The 'total amount payable' is not what you will have to settle, just an overall aggregate of all your payments over the full finance term. You cannot be expected to pay your deposit twice, or interest on a loan for the full term if you settle early.

Do you have a record of writing new cars off? If you do (or someone who will drive it does) it might be worth getting GAP, but not from the dealer as he's just trying to wring more from you/make his quota up. Don't forget most insurers will replace a car that is less than 12 months old that's been written off with a new one anyway so if yours will there's no point in doing it untill the car is 12 months old anyway?

You can certainly defer the Gap for a year with most good companies, but you still have to buy the policy within a timeframe of buying the vehicle. I do not think any provider will let you go to them and protect the full invoice price if you have had the vehicle for a full year

Edited 28 April, 201412 yr by staveros

Do you have a record of writing new cars off?

Hahaha that one made me chuckle xD

JRJG