GAP insurance??

[serpico]

anyone had any experiences with this GAP insurance??
this is where they insure your car back to the invoice price in the event of a claim within 3 years.

 

[sledge]

Depends on the policy. There are schemes that will clear any outstanding finance, pay out the back to invoice price or pay out based on an agreed value. Neither are you fixed to a 3 year term, 5 or 6 years are available. Plenty of companies offer GAP and you dont have to take it out with the dealer. I shopped around and found an equivilent policy to the one my dealer offered for just over half the price they quoted.

 

[rallycinq]

Yup, shop around. Look at the best deal from your point of view. Anything bougt from a dealer will have an elemet of profit for the dealer in it. Wouldn't expect anything less, really.

Cheers

SPD

 

[PuntoPunter]

Hi all,

I have just purchased a Punto and was told at the dealership about Gap Insurance. It seems like a good product to purchase but it just seemed a lot of money. The vauxhall dealership quoted me £350! i have shopped online and found the same product (back to invoice) for a fraction of the price.

Has anyone bought gap insurance from an online company? if so where do you recommend? Am i right in thinking it is the same product as the dealership are selling?

One company that stood out is click4gap.co.uk, the website was simple to use and the quotes were very reasonable. The main thing I liked was that they are not a broker. Has anyone had experience of this particular company?

Thank you!

 

[fenton_jd]

I kept my Grande Punto for 14 months whereby it had depreciated by 2.5k. I then traded it in for a different car and never took out gap insurance again.

The best gap insurance is to not have an accident.

 

[Most Easterly Pandas]

Hi all,

I have just purchased a Punto and was told at the dealership about Gap Insurance. It seems like a good product to purchase but it just seemed a lot of money. The vauxhall dealership quoted me £350! i have shopped online and found the same product (back to invoice) for a fraction of the price.

the Vauxhall dealership I brought my Stilo from back in May quoted roughly the same price.

TBH I'd save the money. It's good on a new car, or one where its been purchase on Credit, but with a used car, it's unlikly to depreshiate (sp??) cripleingly (sp?)

Jon.

 

[PuntoPunter]

Thank you for your posts.

I think for peace of mind i will get the gap insurance ive been reading a lot of horror stories of people loosing thousands, and its a peace of mind for only about £100 so i feel its well worth it. Especially as fenton_jd said ''I kept my Grande Punto for 14 months whereby it had depreciated by 2.5k'' £2,500 in just over a year is scary! Does anyone else have any views on this?

BTW - not sure where i got vauxhall garage from?!? lol