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Gap insurance - guide discussion

edited 22 October 2018 at 1:46PM in Insurance & Life Assurance
126 replies 84.9K views
1235713

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  • Hello,

    I think you will find the sales person you have spoke with regarding "by law" he need's to speak you through these products is infact correct as this falls under the FCA rule "treating customer fairly"(why should one customer be made aware of the products yet another isnt)

    Leading on to your second point regarding you are not able to buy a car for two days, i think you will find that you have put your own twist on this, the customer is allowed to purchase a car on whatever day you would like but this can not include Gap Insurance, you are also not allowed to take delivery of your new/used car until the 2 cleared days have passed this is to give you sufficient time to make an informed decision regarding the regulated products on offer, If you wanted to opt out of the Stage one and Stage two of the FCA regulations then you can do this by providing the dealership with a letter which mean's you can then take delivery of your car at your own freeweill.
  • I'm still no wiser which gap insurance company to chose!
  • QuentinQuentin Forumite
    40.4K posts
    ✭✭✭✭✭
    The MSE article on gap insurance has a special offer:

    https://www.moneysavingexpert.com/car-insurance/gap-insurance
  • edited 27 November 2017 at 3:13PM
    spring_cloudspring_cloud Forumite
    1 posts
    edited 27 November 2017 at 3:13PM
    Last week when enquiring about the new Nissan Leaf, the salesman (at an official Nissan dealership) added on £469 for three years GAP cover. This is for a car costing £27k! Is this a record?
  • Just purchasing a new car and looking at GAP insurance. I!!!8217;ve just asked my insurance company if they replace my car for a new one within the first 12 months like many insurers and they said they do unless it!!!8217;s subject to any form of finance agreement. So under my PCP deal they will only pay out market value at the time of loss.....gap insurance needed then!
  • Even if they were competitively priced, the promotional code can't be used on the ALA webiste anyway - computer says Promotional code not available in big red text for both the invoice plus and the vehicle replacement plus options.
    It's not what you know, but who you know.
  • moneymel wrote: »
    Even if they were competitively priced, the promotional code can't be used on the ALA webiste anyway - computer says Promotional code not available in big red text for both the invoice plus and the vehicle replacement plus options.

    I had the same problem and so gave them a call, they applied it straight away.

    They also gave me some really good advice before I picked up the car - make sure all options are listed on the invoice documentation so that in the event of a loss you are covered for like for like.
  • 1230EX1230EX Forumite
    4 posts
    I got a great price on GAP from motoreasy.com - way less than the dealer

    £126 for 3 years cover thank you very much !!!128077;
  • Don't know if EasyGap and GapInsurance123 have gone bust, but when you try to get a quote from them, they both suggest other websites...
    Jumbo

    "You may have speed, but I have momentum"
  • Just bought a new car and have been offered GAP insurance for over £400 for 4yrs by the dealer. Thanks to this article I got 3yrs for £124 from ALA. Wish I'd thought to check when I bought my last car, could have saved myself a couple of hundred pounds. Live and learn.
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