GolfGTIforum.co.uk
Model specific boards => Golf mk6 => Topic started by: herbie911 on 17 July 2009, 16:26
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I do 10000miles a year and planning to keep the car for 5. Dealer quote me £395 for 3 years. I had signed the dotted line.
Sort of regret about my decision. :sick:I had never written off my car since I pass my test. Is it worth getting Gap Insurance???
Should I had spend that money on a service agreement or extended warranty instead?
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Gap insurance is like normal insurance... it's boring and overpriced until the minute you actually need it.
On a new car I would always get Gap, but that's my opinion. :nerd:
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Given its a new car and given how much its going to depreciate, 133 quid a year is pretty cheap.
I'm getting this and the servicing pack too.
What deal you getting on the extended warranty?
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I have GAP insurance on my mk 5 (as i bought it from new) and i have also gone for it for my on order mk 6. its defo worth it, particually if you right the car off (which hopefully no one will do!!) Threaten to go elsewhere for your GAP insurance - that's what I did and i ended up with the quoted £500 cover being given for free (they would have taken £500 off the car price and added the £500 back) - remember, the dealers earn massive commission on this type of extra so you can defo get it off them cheaper as they will just take it off the price of the car because they make nothing on the car but loads on the service plan, insurance, finance etc!
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Strange, I had to actively ask for gap insurance. Also I had to ask about the autoglym protection, though the dealer guy said it wasn't worth it!
Prob because he was on the fleet side and doesn't get these bonuses.
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Thanks guys! Feel a bit better. I will see if I could haggle the service agreement with the Gap insurance for £500. It was listed on the car configurator for £250!
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OK, ignoramus here. Could somebody explain what GAP insurance is? :undecided:
Rolfe.
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If for example your car is written off 2 years into your ownership the insurance companies only pay out the current market value of your car.
So, say in 2007 you paid 20k for your car. Worst case scenario it is written off today and market value for your 2 year old car is now 12k. Your insurance company pays you the 12k. You are in effect 8k sort of the original amount you paid of 20k. The GAP insurance fills this 'Gap' hence the name. So your GAP insurance in this example would pay out 8k, leaving you with 20k as you had already parted with in 2007.
Now this is what I was told by my dealer and hence the reason I bought the GAP insurance. Now if this is wrong can someone please correct me? :undecided:
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that sounds about correct Jules :wink:
I thought it was a total waste of time and money until a few of the people on here smashed their cars. The way cars have lost value over the last few years its definately worth the relatively small initial fee.
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If the market value is 12,000 and the insurance company gives you 12,000 then you could replace you car like for like without gap insurance.It should be called gap bonus because if you write your car off or it gets nicked you would actually gain from the gap.
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problem is that most insurance companies dont take into account for extras you have fitted, and will usually want to give you bottom price for a car the same model and year.
with gap it means you would get a car exactly like your last one was spec'd up to. So like for like.... not bad if you write off your 5yr old gti :grin:
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If the market value is 12,000 and the insurance company gives you 12,000 then you could replace you car like for like without gap insurance.It should be called gap bonus because if you write your car off or it gets nicked you would actually gain from the gap.
isn't this a form of gambling? pay 400 quid now, you might get 10-15k in 3 yrs time!
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Sounds useful.
What's always bugged me is the difference between what they'll give you as a write-off value, and what it would cost to buy the same vehicle second-hand, at the time of the accident.
It's never happened to me with a car, but I wrote my motorbike off in about 1984. There was a similar bike on sale second-hand at the dealer's at the time, but with what they gave me there was no way I could afford to replace the written-off bike like-for-like. In the end I took what they were prepared to offer to keep the bike, and just repaired the necessities - it had a dent in its tank for the rest of the time I had it.
I think this is a serious deficiency in the insurance system. Anything else, home insurance for example, will pay to get you back to where you were before the accident, flood, burglary or whatever. Motor insurance, by only giving you what you'd have been able to sell it for on a bad day, not what you need to buy one just the same, leaves the customer high and dry.
So, never mind the new cost, does it cover this gap?
Rolfe.
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If the market value is 12,000 and the insurance company gives you 12,000 then you could replace you car like for like without gap insurance.It should be called gap bonus because if you write your car off or it gets nicked you would actually gain from the gap.
isn't this a form of gambling? pay 400 quid now, you might get 10-15k in 3 yrs time!
BINGO!! :grin: :grin: :grin:
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Yes my point, its not really a insurance but a bonus scheme that only pays out if you write off or lose you car.
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the truth is that by refusing the insurance companies first offer and seeking out similar spec'd cars will go a long way to increasing your insurance companies writeoff value.
One of the ed30 guys on here did push and get what he though was reasonable value for his car to be replaced, but at a guess its time consuming and often involves a bit of give from both sides. They will try it on at any given opportunity.. but you have your rights and if you stick to your guns you will be ok....
the only problem is that without gap you get to drive someone elses car.. with gap your back in a new version of your car :wink:
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Give us a call in 2 years and i`ll pinch your car for you :grin: :laugh:
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How about if I wrote off my car and they find my car was modded. Will they still 'plug the gap'????
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Yes my point, its not really a insurance but a bonus scheme that only pays out if you write off or lose you car.
simon - didn't you write off your ED30? did you have gap insurance? perhaps they have blacklisted you now!
:tongue:
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Not me never had a golf before :tongue:
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the main idea of gap insurance is to cover the difference between insurance pay out and the ammount owing on finance! (I learnt the hard way and had to find another £2000 to clear the finance still left after the payout!!)
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Now that makes sense! But can you still get it, if you want it, if you don't have outstanding finance?
Rolfe.
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yes and you can buy a seperate policy (check google etc) and save lots of £££ compared to vw finance
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yes and you can buy a seperate policy (check google etc) and save lots of £££ compared to vw finance
v good point. i just did a quote on the first site i saw on google. 20k of cover for 3 yrs back to invoice is 190 quid. or 200quid less than vw!!
thanks boney!
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Not me never had a golf before :tongue:
sry, i think i got you mixed up with Peeps.... rest in pieces...
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I bought my MkV recently and the dealer offered me the £395 3 year policy. Wasn't gonna have it but I shopped around and found an identical 4 year policy on the web for £200. Was going to get that but when I told the VW dealer they immediately offered me their policy for £190. I ended up taking it. Just shows how much margin they have.
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thanks, well haggled. just imagine how much we got fleeced in a world before the internet!
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How about if I wrote off my car and they find my car was modded. Will they still 'plug the gap'????
Nearly every GAP insurance policy I've seen excludes modded cars, so check carefully if you intend to mod. :undecided:
I believe there was one company that did allow them though.
Most of the online GAP companies give you three months (from new) to take out the "Return to Invoice" Gap policies, so it may be not too late if you've recently bought your car and are still considering GAP insurance. :wink:
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Thanks Jon! I'll check the small print before signing!
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If you must have GAP try these. Much cheaper than VW.
However, it is a money maker for the insurance companys and the dealer.
Make sure you know what you are buying though. GAP can be a complete waste of money unless it is
"Return To Invoice"...this is essential.
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forgot the web addresses
http://www.click4gap.co.uk/
http://www.car2cover.co.uk
http://www.surfandprotect.com/motor/...ce/default.asp
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Hi all
like many others here i'm considering GAP insurance. to be honest it's a done deal assuming I do decide to purchase the car.
Like many others I've been offered it at the main stealer. Apparently it's a legal-or-something requirement that they offer you this. I remember buying my Yaris some years ago and vaguely remember even signing a document to say the salesman offered GAP to me but I declined.
There is a big difference between a Yaris and a GTI though. For the sake of a few hundred notes, I think it's well worth it. You don't want to spend you hard earned life earnings on a nice motor, then some crackhead robs your keys and you never see it again, and insurance only pays 75% of what you originally paid or something. Considering the desirable-factor of GTI these days, I believe it will happen more often than on other cars. A bit harsh to say but I genuinely believe it to be true, although I sincerely hope it doesn't happen to me or any other GTI driver.
I'm in a bit of a muddle though, I hope peeps can help. I'm waiting for my GTI (should expect it around mid December-ish) and ordered it with the stealer 3 year GAP policy at £395 - so it's actually written on the order sheet.
after reading this and other forums, I came across www.ala.co.uk and it seems I can have an equivalent policy of £170.10
When the GTI is ready for delivery, am I likely to be able to use this to haggle the £395 down before I settle the balance? It's quite a big chunk. Would be nice for some petrol and air freshners more than anything :smiley: I'm not too sure on the specific differences between that Ala policy and the dealer offered policy. If anybody else has ever had any experience with Ala I would appreciate any advice offered.
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Very quick plug for my wifes company and who we are insured with, the NFU. They still pay out new for old if your car is less than 2 years old so no need for GAP insurance. We had our 18 month MK5 stolen and 2 weeks later we were driving a brand new MK6!! You do pay more for the premium but as the age old saying goes "you gets what you pay for"
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Very quick plug for my wifes company and who we are insured with, the NFU. They still pay out new for old if your car is less than 2 years old so no need for GAP insurance. We had our 18 month MK5 stolen and 2 weeks later we were driving a brand new MK6!! You do pay more for the premium but as the age old saying goes "you gets what you pay for"
Thanks for the tip
I presume the website is http://www.nfumutual.co.uk/
i'm a bit wary you say your GTI was nicked :shocked: kinda makes me scared - i hope it wasn't too bad for you
i'm a bit wary of what would happen if when I get mine and it might get nicked or need going to the shop for repair, how would I get to work? i guess if worst comes to worse i could catch the bus, otherwise i may consider a policy that offers courtesy car too, obviously i would have to pay though.... wait maybe my existing policy already has courtesy car? i never checked... i sound so dumb don't i
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IMO haggle now with the dealer. its not as if it'll affect the factory build.
some will drop others won't. if they don't then just take it off the order list and buy thrid party. might as well know now rather than dec. plus if you do it when the car arrives, the pull of the car being so close will weaken your bargaining power.
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I do 10000miles a year and planning to keep the car for 5. Dealer quote me £395 for 3 years. I had signed the dotted line.
Sort of regret about my decision. :sick:I had never written off my car since I pass my test. Is it worth getting Gap Insurance???
Should I had spend that money on a service agreement or extended warranty instead?
I have always taken the GAP with my Audis and VWs and the price has been around £150 as that is what they pay for it. I got it free with my wifes Gti bought last month.
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Definitely haggle. I went into the dealer with three online quotes. Dealer agreed to match the cheapest online quote - £170.
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Definitely haggle.
i got the £500 free! so haggle!