Guaranteed Asset Protection (GAP)

WLM21

I am about to buy my wife a car and the salesman told us all about their GAP insurance policy. He was trying to push it so much, he is probably getting a fair bit of commission.

I had never heard of this before, but it does seem Ok.

Is it worth taking out ?

Can it be bought separately online, maybe cheaper ( he quoted £300 for a £7000 car)

Many thanks

Hintza

If it's a brand new car most insurers will replace with a new car in the first year.

You will find it a lot cheaper elsewhere (also read up on the various types).

Should you take it? If you felt the need to take PPI, or a warranty on your TV then yes probably. Decide on your attitude to risk.

Many will argue it is worthwhile personally I wouldn't touch it.

WLM21

Hintza wrote: »

If it's a brand new car most insurers will replace with a new car in the first year.

You will find it a lot cheaper elsewhere (also read up on the various types).

Should you take it? If you felt the need to take PPI, or a warranty on your TV then yes probably. Decide on your attitude to risk.

Many will argue it is worthwhile personally I wouldn't touch it.

Thanks for your quick reply.

I had a quick look online and found two, far cheaper options ..

helpucover.co.uk. £3.62 for 36 months
ala.co.uk. £2.05 for 36 months

.. So very worthwhile shopping around.

Previously I have never taken out PPI but at these cheap rates, will probably go for it.

It isn't a new car, but is only 14 months old .. ie. the one I intend buying

Update !

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