Quick bit of advice please

PJBDerby

Hi,

Currently in the process of purchasing a car from a well known Midlands car supermarket on HP.

Included in our quote was GAP insurance (I'm ok with the concept and recognise that I will need it) and an extended warranty (umming and arring as to whether I want this, but I digress).

My question is: am I being ripped off for GAP? The car supermarket are selling it at £300+, and I suspect that this is one of their major money making vehicles (pun definitely intended). A quick Google and a look on reputable sites such as Auto Trader and Parker's tells me that I can pick it up for <£100. Can this be right? Does the supermarket's product offer something astounding that I'm missing?

And then another question whilst I'm here - the extended warranty: worth it or not worth it? Had a couple of people say new(ish) cars these days, what can go wrong, etc etc. Again the supermarket's price is a whopping £619 for 3 years of cover, where as Google/Auto Trader/Parker's churns out quotes of £250ish for 3 years of cover. In this case it's easier to see what is/isn't covered in the respective policies, I just wondered if there's a reason for the supermarket to charge so much other than you're there, they've got you locked in and it's an easy and very profitable sale.

Cheers in advance for any help, greatly appreciated.
PJB.

huckster

Yes you are mostly always better off arranging your own GAP cover.

You can also obtain warranties elsewhere if you want one.

For both their is plenty of choice. Check what they cover and repuation of the company, don't be driven by price.

I have a feeling that garages offer this at inflated prices, because people will often buy anything with their car. Something to do about the excitement of buying something.

benjaminM

Hi,

£300 is expensive. Most motor traders do charge over the odds for Gap insurance. Insurance brokers either by the phone or online will be able to quote much cheaper for the same product. Depending on the value of your vehicle and how long you want the cover for you should pay somewhere between £80 to £150.

Cant help with the extended warranty, not my bag I'm afraid.

PJBDerby

huckster wrote: »

Yes you are mostly always better off arranging your own GAP cover.

You can also obtain warranties elsewhere if you want one.

For both their is plenty of choice. Check what they cover and repuation of the company, don't be driven by price.

I have a feeling that garages offer this at inflated prices, because people will often buy anything with their car. Something to do about the excitement of buying something.

benjaminM wrote: »

Hi,

£300 is expensive. Most motor traders do charge over the odds for Gap insurance. Insurance brokers either by the phone or online will be able to quote much cheaper for the same product. Depending on the value of your vehicle and how long you want the cover for you should pay somewhere between £80 to £150.

Cant help with the extended warranty, not my bag I'm afraid.

Thanks a lot to both of you. The sales man looking after us at the time did kind of just throw the GAP insurance into the estimates, never really asked if we were sure we wanted it and of course would never tell you that it's available much cheaper elsewhere.

As for extended warranty, like I said I'm not convinced I want it yet and if necessary will arrange myself. The comparison websites all seem to have affiliates who do it now, would like to think that they'll be reputable insurers.

Thanks once again.

dacouch

The other thing the nice friendly car salesman will do is to add the premiums for the Gap Cover and Warranty to your three year finance deal resulting in your £900 premiums ending up being circa £1200+ once the finance charges are added...

griff969

Hi Guys, first time poster but hopefully I can help. Try cheapgap.co.uk. They dont sell gap, but its great for gap info, they let you know all the cheapest deals that week. Site seems to run similar to this one, info and links.

I found a 4 year rti with a £15k payout through a link on their site for £141. The cheapest elsewhere was over £200. Policy also allows me to transfer free if I change my car in that time.

Even if you cant find your policy through them the site is really good for tips and advise. Hope it helps!:)