New Lease Car Insurance help

bery_451

Hi coming back here Ala Gap insurance said for Lease/Contract hire they will only cover the monthly payments to lease company if car is written off. Max I can claim for GAP is £5000. Is this the correct cover?

That means if car is written off, my lease contract will be settled, but I thought GAP means cover the gap between market value and purchase price value right?

Okay with this cover if car is written off, my lease contract is settled by GAP, and hence I can take out another new lease contract with another new car but will I require a new GAP policy for this? 

bery_451

Penelopa.Pitstop said:

bery_451 said:

Its confusing cause the lease company I ordered from is Stoneacre and the contract finance 60 page document that I am about to sign is all underwritten by ALD Automotive Ltd. So who dictates what in the contract and who do I go to for further clarification?

ALD will be the owner and registered keeper. Their condition apply. It doesn't matter which dealer supplied the car. There's plenty of info on their website, together with brochure: https://www.aldautomotive.co.uk/driver-area-site/user-guides/SiteAssets/ALD-Driver-Guide.pdf See page 7, Personal Driver with Customer Maintenance.
"SERVICING, MAINTENANCE & MOT

„It is your responsibility to ensure all servicing and maintenance work is carried out by an authorised dealer and that a full service  history and a valid MOT certificate are kept up to date.

„If you miss a service or your service history log is incomplete when you return the vehicle to us, you or your company will be liable for any costs incurred e.g. as a result of an invalidated warranty or lower resale value.

„You must check oil and fluid levels regularly and top-up as necessary in-between services."

Lets say for example I lost my job and cant make the monthly payments and get into arrears & defaulted on my contract. Who will put entries in my credit report rating reflecting this or file a court debt claim against me? Is it ALD or Stoneacre?

Penelopa.Pitstop

Finance company - ALD.