Gap insurance dealer or online quote

jamestay1

i pick up my new used car tomorrow which i've paid £7000 for on pcp finance.
i've been quoted £326 by the dealer for GAP insurance but an online quote gave me £124 (surf and protect)

has any body got there GAP insurance online and if so who with ?
thanks

Lemonade_Pockets

Haven't bought one online. All i would say is check the cover is the same as being offered by the dealership policy - you'd be alarmed at how much these can vary.

Also tell the dealer your gonna buy it online unless he can do it for a reasonable price. The cost of these products to the dealer is usually about £150, if pushed most will be happy to sell at cost rather than not at all simply because they get targeted on selling them.

dacouch

Gap policies through a dealer are always the most expensive option as a large amount of the premium goes to the dealer in commission hence why they are so eager for you to buy it.

The other problem with the cover through a dealer is they will add it to your finance so you will pay the £326 plus interest over the three or so years of your finance agreement. So the £326 actually cost much more.

You should be able to get a similar or better Gap policy on the internet .

For the record with Surf and Protect you should be looking at "Retail Value Gap" or the "Invoice Gapp Insurance"

Lemonade_Pockets

Theres no reason why you can't pay the dealer cash for the GAP though, just add it onto the deposit.

Anyway i sound like i'm gunning for a dealership, i'm not i'm just saying you might be able to get a better policy from them for a similar price without all the worries of buying online.

Another thing to check is that your PCP doesn't include its own GAP cover. Its not common but some of the mainstream finance companies do or at least did provide it as part of their PCP packages.