Very soon to be FR owner :D GAP insurance help

[Tonezz]

I paid a holding deposit and just need to sell my car now.

While i was there as well they realised there had been a mistake on the price, the 2 FR's where new in in Manchester at £11,990 and somebody make a boo boo, because they where supposed to be up at £12,990. So they honoured the price on my car, but i have checked on Seat and they put the price of the other up while i was sat in there!

I was wondering what are the opinions on GAP insurance though, its about £10 or maybe a little more a month. Should i take it?

 

[mazzerati]

i had it on my first car and never used it :/
guess its a good safe guard really, specially if you are going to be covering alot of distance or hard b road driving.

its entirely down to you and wether you think you will need it.

 

[DEAN0]

i had it on my first car and never used it :/
guess its a good safe guard really, specially if you are going to be covering alot of distance or hard b road driving.

its entirely down to you and wether you think you will need it.

GAP insurance is to cover the difference between what your insurance offer you and what you will potentially owe on the car if you write it off.

If you don't owe anything on the car then GAP insurance is a complete waste of time IMO.

If however you are borrowing most of the value of the car - it might be worth looking at GAP insurance to make sure you can cover the loan in the event of a write off.

Distance or type of road should have nothing to do with it.

 

[DA-BADMAN]

if your getting the gap dont go through the dealer as you can get it cheaper elsewhere,my dealer wanted nearly £400,but i was quoted £150 online,the dealerships make a killing selling it,thats why they try and push it through !!!!!!!!

 

[Tonezz]

Hmm i have been reading up a little about it.

I'm not sure if I'm looking at this the right way but I'm financing the car at the price of £11,990 and it should of been listed at £1000 more than that as it is. Also its only 9 months old with no actual owners and new with the spec it has costs £17,335.

The chances of me losing money if anything bad would happen is quite low isn't it?

I'm trying to keep costs down so i will probably not take it.

 

[adamb87]

I took it. Purely on the basis when I had my type r I wrapped it up. So with it bein another hot hatch with alot more value its just as piece of mind really

 

[Tonezz]

I took it. Purely on the basis when I had my type r I wrapped it up. So with it bein another hot hatch with alot more value its just as piece of mind really

I defo won't be doing that!

Btw adam how much is your insurance? Your Preston postcode aint you?

 

[CandyWight]

I declined GAP insurance from the dealer, only to be told by my insurance broker on renewal that all new cars up to a year old are replaced like for like as standard with my insurance. Worth checking it out with your insurer as they might do something similar if not the same.

 

[sly200sx]

I got GAP, return to invoice, for mine for 2 years for around £88 and a nice £22.50 quidco cash back also.

(Click4gap)

 

[ScottiCupraTDI]

See my previous thread asking similar:

http://www.seatcupra.net/forums/showthread.php?t=314353

 

[Deleted member 55436]

I took GAP from an online vendor click4gap, return to invoice of £14.6k, for 4 years at £140 total premium.
Because my insurance covered new for old (existing policy with 6 months left to run when I swapped cars) I was able to delay the gap start until I changed insurance.
Although most policies do cover new for old, I'm a relatively high mileage commuter and was conscious that the car's market value would drop quickly, hence the GAP insurance.

HTH

 

[adamb87]

I defo won't be doing that!

Btw adam how much is your insurance? Your Preston postcode aint you?

pr5 I am. Which also works the same as pr1. It is 92 quid a month. I am 24 with 6 years ncb no accidents and no convictions on my record. Quite happy with that as my fiancee is on there as well and she is a new driver.

 

[Tonezz]

I can understand the need of GAP insurance when purchasing brand new from factory, because you lose alot of money just driving it off, which you are still financing. So it will cover you for that. But in my case with a 9 month old car with no owners and its £5,500 less than factory, I can't see the market value changing that dramatically in 3 and a half years.

Thats ain't too bad Adam, i think the requote on the FR for me is just a bit more.

 

[Tonezz]

I got them to do a proper quote including and not including GAP.

Its £12 more a month, works out at £504 across the whole contract. :S

I have read on the other websites you can get it within the first 3 months of delivery, but this car is 9 months old. Can you even get it from the other insurers?

 

[Tonezz]

Looked on ALA and they quote 3 years - £93 4 years - £161, I need it for 3 and a half! xD
As oppose to Seat costing £504, seems like a good deal!

Only thing I want an answer to is can somebody put this in simple terms, I'm probably just being stupid!

One of the cover features is "Doesn’t cover arrears or negative equity shown on purchase invoice"

Having paid a £3000 deposit and an end payment of about £5000, can you even get into negative equity?

 

[Octane2097]

Negotiate with the dealer!
I have bought 2 cars from dealers and both times got GAP cover for free

Sent from my GT-I9000 using Tapatalk

 

[Culham9]

Negotiate with the dealer!
I have bought 2 cars from dealers and both times got GAP cover for free

Sent from my GT-I9000 using Tapatalk

great advice, got mine for free from the dealer as well!!! definitely worth having just for piece of mind! Wrapped my old Ibiza sport round a tree and the GAP was a life saver!

 

[Tonezz]

Negotiate with the dealer!
I have bought 2 cars from dealers and both times got GAP cover for free

Sent from my GT-I9000 using Tapatalk

There was no way i was getting it free. They wouldnt budge on the part-ex price and wouldnt knock anymore off the car because it had already been priced £1000 under what it should of been. I got a free first service though. Still got the car at a good price though!

I didnt take gap, maybe get it off an online site.

 

[Squash man]

As others have said don't use the dealer, much cheaper elsewhere. Used Click4Gap myself on a previous car but only because I was worried about its depreciation. Quote for my Boc was £129 for 3 years cover return to invoice. So they would pay upto £5000 on top of what the insurance offer me to get me back to the purchase price.

 

[Tonezz]

As others have said don't use the dealer, much cheaper elsewhere. Used Click4Gap myself on a previous car but only because I was worried about its depreciation. Quote for my Boc was £129 for 3 years cover return to invoice. So they would pay upto £5000 on top of what the insurance offer me to get me back to the purchase price.

I probably will do, you have up to 180 days to buy it so I can leave it a while.