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Discussion Starter · #1 ·
Just a word on GAP insurance. When initially negotiating the deal the Sales chap offered the benefits (and cost) of GAP insurance as a must have. Hmmm...I don't normally do extended warranties and certainly never purchased GAP insurance.

The deal on offer with VW was on a sliding scale but as I recall two of the numbers: Value of the car up to £20,000 - £399; Value over £20K- £499. (Might be out a bit), however,...

To close the deal I had the sales rep over a barrel with something he had said to me earlier about the value of my trade in. In the end he wouldn't move on the P/X value but would throw in free GAP insurance. Thinks....want the ROC why not. So far so good. When I picked up the order form the overall price and part ex value were “as per” but the GAP insurance in the equation shows £152. I did ask and this was glossed over - I get the GAP insurance BUT this seems to be one hell of a mark up on he initial offering (but in effect thrown in free to me) as compared to the original quote of 4-500 quid?

Any thoughts? I have subsequently checked on-line for GAP insurance 1st quote for the value of my ROC was £174.

Cheers

BoaT
 

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Hi there,

I'm awaiting my Scirocco in early march. Dealer is trying to push this GAP insurance on me, where did you get the quote for your GAP insurance.

I don't actually understand what the GAP insurance is or what it's for that the insurance wouldn't cover.
 

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In very basic terms if you buy a new car for say £25k and drive it for a few months as normal, then some scumbag relieves you of your pride and joy never to be seen again your insurance will not pay for a new car but to he value the car is worth. Let's say £20k as your car is not new and has a few thousand on the clock.

Gap insurance therefore covers the difference between what your insurance pays out and the replacement value i.e. £5k.

I appreciate this is very simplistic and that there are a lot of what if's but this is how it essentially works.

On another note when I ordered mine back in September there were no discounts available on the car but I did negotiate Gap insurance as part of the overall deal.
 

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Thank you for the replies. I've obviously not been savy enough to get that thrown in. Tried to negotiate getting the mats a bit cheaper but couldn't get them to budge on that. I did get them to throw in the Cruise Control (That can't be ready for delivery but will be done soon after, once VW sort it out).

Are VW the only ones who do this? would I be able to get this from another insurer?
 

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Just to add my tuppence worth. I turned down the dealer offer for GAP which was originally quouted as £399 (negotitated to £250) as I knew it was available online for less than £150. I got a quote from directgap.co.uk for £145 for £10k cover over 36 months, then went to www.surfandprotect.com who have a price promise to beat any quote and give you a £5 additional discount, hence £140 for 3 yrs and £10k cover. You might be wondering why only £10k cover, and put simply the residual used by VW to calculate GFV for PCP purposes is 55% (pretty goopd in other words) hence using worst case scenario the car is stolen in 35 months time and the regular insurance pays say £11k I will get the additional £10k from the GAP insurer (I brought an ex demo for £20.5k).
Also be aware that there are different types of GAP insurance (RTV, RTI etc etc) that provide slightly different levels/types of cover. One other comment you hear quite often is 'i don't intend to write it off' but never say never, accident do happen and also cars do get stolen or hit by unisured drivers.

On another note, I financed my car but avoided VW finance as the apr's available for PCP and HP are pony. I shopped onloine and got a cracking deal with a 7.2% APR for a LPP (Low Payment Plan) which I aim to voluntary terminate at month 34 and give the car back to the finance company. This is a personal choice as I am gambling on there being a 'storm' version around that I might quite like the look of but if not I will simply get myself another on finance and play the game again.
 

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get the dealer to through it in thye can do this without reducing their margins on the car, also press for dealer fit accessories for the same reason
 

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Discussion Starter · #8 ·
Hi darknite, I got the quote via " www.gap-insurance-online.co.uk " who explain the ins and out quite well - for a car valued at £24 k the cover was given as £20,000 for £174 coveing 3 years
If buying on line I'd be tempted to run down a better deal - Le_Savage seems to have this sussed pretty well!
Cheers BoaT
 
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