Pcp/early settlement/insurance

laurencemartin

Have searched the forums but can't find any advice on the following so would appreciate any help.

Basically, buying a car through VW on PCP. Included in the costs are various insurances (48 months GAP, 36 month tyres, cosmetic and alloy wheels). If I damage the wheels or any other thing which is covered, am I allowed to claim for repairs or can only VW claim? Also, if I cancel the agreement after say 3 months, does the insurance revert back to me or will i get a pro rata refund from VW on the balance?
Appreciate any help.

Car_54

I think you'll find the general consensus is that these add-on insurances are either unnecessary or grossly over-priced, or both.



I'd suggest you get a quote from VW without them, and then shop around separately for those you really need.

neilmcl

Don't get any of these add-on insurances through your dealer, they will be way over priced and mostly a waste of money. The only one you need to consider is GAP insurance but you should use on of the independent providers such as ALA or gapinsurance.co.uk.

And in answer to your question, yes the insurances will remain even if you settle the finance early.

smiffyuk

I purchased a new Toyota Yaris using pcp because it was the largest discount with car wow When I paid the the final invoice costs I asked if I could have a final settlement figure The dealer said not until I paid the first payment  I then contacted Toyota finance and they sent me a figure and I settled the contract before I left the sales office

BOWFER

All those extra things do is put a smile on the salesman's face,.
Lucky if he gets £60 from the sale of the car, he makes a lot more from finance and insurance policies.

facade

All those insurances are pay once up front and will be in your name with the car reg. on. They do NOT form part of the PCP deal for VT purposes, any money paid to them doesn't count towards the 50%, and if you were paying them monthly, they have to be paid off fully when VTing.

If you clear the finance and buy the car, you keep them, but if you were paying them monthly somehow, you will have to pay them off. 

[Deleted User]

Guys this is a post from October 2018. Let it die again.