GAP for GTI/GTD

[monkeyhanger]

I'm probably going with "Back to Invoice", because if my car was written off after 2 years, I wouldn't expect to walk away with a brand new car.  For the sake of around £120 for 3 years cover, it's not too bad, but then again, this kind of "insurance on insurance" and the stories they use to sell it...get's a bit frustrating, as it does with all of the other insurances they try and sell you for paint protection, wheels, tyres, scratches etc.

Getting mine free, but it certainly isn't worth £400, somewhere around the £150 mark would be about right. RTI is the standard and least hassle. I suspect that a "vehicle replacement" scheme GAP could cause problems if the car changes, as in the case with EliteBajan. Would the GAP insurer look to be buying you a car they consider superior to the car it replaces, or would it cause issues?

[Gryzor]

Getting mine free, but it certainly isn't worth £400, somewhere around the £150 mark would be about right. RTI is the standard and least hassle. I suspect that a "vehicle replacement" scheme GAP could cause problems if the car changes, as in the case with EliteBajan. Would the GAP insurer look to be buying you a car they consider superior to the car it replaces, or would it cause issues?

Exactly.  RTI is less hassle, just pay the difference between what the insurance company pays and what was paid on the invoice.  If the new car has increased in price since, and only higher specifications are available, you might have a bit of a shortfall to pay.  But, in relative terms, so what?!  If my car was a total loss and worth £15,000, I'd reasonably expect a £15,000 payout to replace it.  The fact that the insurance company will pay less, and the GAP cover makes up the difference to what was originally paid...can't complain!

[mcmaddy]

I'm probably going with "Back to Invoice", because if my car was written off after 2 years, I wouldn't expect to walk away with a brand new car.  For the sake of around £120 for 3 years cover, it's not too bad, but then again, this kind of "insurance on insurance" and the stories they use to sell it...get's a bit frustrating, as it does with all of the other insurances they try and sell you for paint protection, wheels, tyres, scratches etc.

Getting mine free, but it certainly isn't worth £400, somewhere around the £150 mark would be about right. RTI is the standard and least hassle. I suspect that a "vehicle replacement" scheme GAP could cause problems if the car changes, as in the case with EliteBajan. Would the GAP insurer look to be buying you a car they consider superior to the car it replaces, or would it cause issues?

Let me know if it actually is free from Mick as its on my invoice but supposed to be free!

[monkeyhanger]

Let me know if it actually is free from Mick as its on my invoice but supposed to be free!

Was free with my Scirocco, was free for my dad, i'm expecting it to be free and yours should be too. If he has to creatively discount the car to the cost of the GAP and then charge for the GAP then i'm happy with that too. I'm sure Mick won't miss the opportunity to net himself £120 commission by giving you GAP.

[mcmaddy]

Im sure he wont. To be honest we are having to totally rework my invoice anyway due to the extended delays so hopefully will make the payments even cheaper 

[monkeyhanger]

Im sure he wont. To be honest we are having to totally rework my invoice anyway due to the extended delays so hopefully will make the payments even cheaper 

Rework based on now greater equity in your Tiguan due to the wait? I need to get a final settlement amount, as I won't have another payment between now and likely GTD collection (solutions payments on the Scirocco are on the 8th of every month for me).

[mcmaddy]

Im sure he wont. To be honest we are having to totally rework my invoice anyway due to the extended delays so hopefully will make the payments even cheaper 

Rework based on now greater equity in your Tiguan due to the wait? I need to get a final settlement amount, as I won't have another payment between now and likely GTD collection (solutions payments on the Scirocco are on the 8th of every month for me).

Yes now have an additional 1k equity (approx) so should be able to get all my additional options for the same price as originally quoted.

[ChrisJL]

Wow thanks for the info guys is my understanding right that Rti policies you just get money difference paid to you so you can organise another vehicle yourself? But nornal gap is a vehicle replacement sthle one where they try to do the replacing themselves? Who are this ALA that do it for 125?

EDIT: corrected awful typo's sorry, typed that one on my phone and the keyboard is awful.

[Gryzor]

Wow thabks fornthe info guys.bsonis my understanding right that Rti policies you just get money diffdrence paid to you so you can orgsnize another vehicle yourself? But nornal gap is a vehicle replacement sthle one where they try to do the replacing themselves? Who are this ALA hat do it for 125?

That price will be for RTI, not vehicle replacement.  That's around £190 or so from memory.  But yes, your understanding is fundamentally correct, RTI will pay the different between what the insurance company pays out and what you paid for the car originally. Vehicle replacement guarantees you a brand new car of the same or better spec (depending on what's available) even if the OTR price of the car has increased in the meantime.  ALA are quite reputable, I know a few people who have gone with them, but thankfully I can't say what their service is like as they have never had to use it!  Vehicle replacement through your dealer wold probably wind up less hassle in the event of a claim.

[ChrisJL]

Thanks Gryzor, think I know what my decision will be after reading that. Appreciate the help from you and also everyone else, I didn't realise there was different kinds of the GAP insurance either, so certainly opened my eyes and helped me make my decision. I thought I'd chance without it, but as the day slowly draws closer to me getting my car I've gradually got more nervous.... (Just in case the worst happened!)