GAP Guaranteed asset protection

hi123

hi
has anyone had experience of this product as I am being pestered for asset protection while buying a car
can it bought cheaper elsewhere as the dealer is asking for 300£ for xcar worth 10k

Paul_Varjak

This type of insurance seems to be attracting a certain type of interest at the moment - probably because the general public has not heard of it but are being pestered, like you, when buying a car.

I did briefly look into this when buying a new car a couple of years ago but quickly dismissed it as my fully comprehensive policy (at least in the first year) will pay the full replacement price of my car if it written-off. Did your car salesman tell you this?

rocking_horse

We wrote our car off recently.we never had gap but have bought it online a lot cheaper than the dealer offered. The type we had will pay back the purchase price of the car if written off within three years.

nickiebabe

I personally have not bought this type of insurance but a good friend of mine did purchase it when he bought his new car 5 months ago.

Good job..... 2 weeks ago his new car had an electrical fault, caught fire and was a total write off. His insurance company only wanted to give him £26,500 for the car (Cost £31,000 Brand new) but with the GAP he got all his money back eventually.

My advice to you would be to look at how much you are going to spend out initially on the premium, how much the car with depreciate by over the next year or so and work out if it would be worth it.

In my friends case it was well worth him purchasing the GAP insurance (Although he did get it from the dealer) so I don't know how online prices compete.

Hope this helps?!!!

hi123

where can i look to buy this online

JeNjEn_3

Try to get it somewhere else - a friend of mine works at a car dealership they make £250 profit approx on every gap policy they sell = it costs them £60 to £80

hi123

hi thanks for views
can some body suggest where can i look for getting rhis GAP cheaper than the dealer prices