New Hyundai i20 questions

maninthestreet

percypercy wrote: »

Hello everyone,

Last week I bought a new Hyundai i20 thanks to the scrappage scheme. It has cost me £6350 and will get delivered in 2-3 weeks, all being well.

As I have never bought a new car before I've got a couple of questions to ask. I hope someone can help me.

1) The salesman tried to sell me a couple of things on top of the car and I said I'd go away and think about it. Firstly, there was a product called Glasscoat, which protects the exterior of your car for £199. £299 for interior and exterior. Any good? Worth getting? My initial thought is no but please enlighten me.

Secondly, a financial product called Extra Value Vehicle Replacement GAP, run by the AA. This would be £399 and guarantees the full price of your car, in case of a total loss, for 3 years. This seems more interesting, especially as I have only paid £6350 for the car yet the GAP scheme covers the full cost of the car ie it doesn't take into account the 2 grand discount. Anyone used or have any thoughts about this product?

2) My second question is this - can anyone make a guess at how much the car is going to depreciate in value? I ask because I might be moving abroad in 2-3 years so it would be good to know roughly how much it'll be worth then. I'm paying with two 0% credit cards and so I need to know how much to pay off per month to keep me ahead of the game for a couple of years and then I plan to sell.

Thanks for taking the time to read my post and I hope some of you experts can give me a few answers.

The salesman wants you to buy £700 worth of 'extras' on a car that costs only £6350.

percypercy

Thank you all for your time in answering my questions so knowledgably. I have clicked thanks on all your posts.

Very useful to know you can get GAP insurance online. Will look into that asap. As I said, I'm not paying for the car on finance, just using 2 credit cards. From what Adrianhi said, I should go for "return to invoice" insurance online so that's I'll probably do. I'm pretty sure (but I'll have to check) that my insurance policy will pay back invoice value in the first year anyway. So could it be possible to wait a year and then buy GAP insurance?

I was right to mistrust that Glasscoat stuff he was trying to sell me, it seems. So, in its place, sealants and polishes - what are the decent ones out there?

MX5huggy

Firstly you need to buy the GAP now one company online let you but upto 90 days after, also you can get it up 5 year GAP policies (for the 1 payment).

The GAP is interesting in this case there 2 basic types finance and the return to invoice, finance is no use to you as you don't have finance on the car.

So the return to invoice GAP is what you need but what will they pay out on? the price you paid £6350 or £8350? I would want this cleared up front in writing before taking the policy.

Some companies offer Vehicle Replacement GAP which when it pays out up to the cost of replacing the car like even if the price of the same car has gone up.

percypercy

Thanks MX5 Huggy. Interesting point you raise there. I will definitely double-check that any insurance policy pays out the full cost of the car, rather than what I paid for it. (Incidentally, the salesman assured me that the AA product that he was selling would do just that, I just hope I can find online one that does the same, only cheaper).

Anybody got any recommendations for good sealants or polishes instead of purchasing the Glasscoat product?

oh_no_5

The gap insurance should treat the £2000 subsidy the same as a deposit paid by yourself but it's worth checking.

Good polish thread here.

http://forums.moneysavingexpert.com/showthread.html?t=1686425