I wanna be mortgage free!

StuartGMC

Twinklie
The finance boards may be better to interpret that; it almost looks like a fixed term loan at a fixed rate but it could be describing the illustration of amounts if the interest rate is variable? In the former case you usually don't save anything... I think a call to the lender would sort that quickly enough?

twinklie

Yeah I've posted on the finance boards but nothing yet. Also, i agree, a call to the lender would be the best option. Wonder if they'll speak to me...it's in DH's name and he'll never ring in a month of sundays.

Martinslovechild

laurasavon wrote: »

twinklie - my hubby was offered the gap insurance when we bought his car but we refused it on the basis that if the car was written off the insurance company would pay out for a similar model like for like thus it being the same value as his current car so i couldn't understand why the gap insurance would pay out unless we decided not to have a replacement car (which we wouldn't due to work locations).

Hi Laura,

I recently bought a new motor and was also offered the GAP Insurance by the dealer, but I didn't take it from them. Instead, I shopped around on the internet the following day and found it MUCH cheaper online. I took out cover for four years and it cost me just over £300 for 4 years replacement cover.

It's worth noting that there are two types of GAP Insurance - the first is called 'Back To Invoice Cover' and the second is 'Replacement Cover'.

'Back To Invoice' essentially covers the difference between the price you originally paid for the vehicle according to the invoice and the value being offered by the insurance company if the car is written off. In year one, some insurance companies offer full like-for-like replacement cover (like your policy) but this isn't the case from year 2 onwards. So let's say that you write your car off in year two and you originally paid £28,000 for the vehicle (based on an assumed RRP of £30,000 whereby you negotiated a £2,000 discount). The insurance company might offer you £20,000. The GAP Insurance would cover the difference and pay out £8,000. However, in the meantime the car manufacturer may have increased the RRP of the vehicle to £31,000, so if you wanted to purchase a brand new replacement, you'd have to either negotiate an even larger discount than previously (as you'd only have £28,000 in your pocket) or fund the difference yourself.

'Replacement Cover' meets the difference between the price NOW and the value being offered by the insurance company. So, returning to the above example, if the car is now selling at £31,000 and the Insurance pays out £20,000 - the GAP Insurance pays out £11,000.

Replacement cover is obviously a bit more expensive (but the difference between replacement and 'back to invoice' in my case was only something like £70, in other words another £17.50 per annum).

To purchase Replacement Cover, you must normally do so within 90 days of first purchasing the vehicle - otherwise you will only be offered 'Return To Invoice' Cover.

Cheers.

StuartGMC

Very useful post on the difference in the insurance, thanks.

twinklie

Right, new tax disc is bought and paid for (£150). I batch cooked some shepherds pie last night so I reckon I've enough in the freezer to not cook tea until the weekend after next! Woo hoo!

Lots of shopping to get done and hung out and I need to crack on with some work later. I'm teaching 7 hours tomorrow!!! And 6 on Thursday so I need to crack on with chilling out a bit.

But first to make sure the entire week is sorted and I could do to check everything is sorted for Monday as well. I'm stressed just thinking about it....lol.

Having said that. I'm on my own all weekend so I'll get lots done...in theory. I'll have to post a list at the weekend....if I'm going to actually get anything done!

twinklie

Right, DH just text me to let me know they have arrived at the hotel in Italy ok. So I don't have to worry about him now.

So on with this weekend now, I need to come up with some sort of to do list. I have to go and buy some things from the shop, and I have to do LOTS of school work so I can have next weekend off! I think today is defo a duvet day though so must be all inside jobs. I have to go out tomorrow because I'm going to the inlaws for my tea.

I've done my cash flow update for the weekend and I've updated my signature as well.

Courgette

Well done Twinkle :beer:

twinklie

Household

1. [STRIKE]Clean the kitchen[/STRIKE]
2. Put on 4 washes Two down.
3. Put away and fold all clean clothes

School

1. Go to Staples to buy things for lessons. Going to do it on the way home on Monday
2. Finish marking coursework
3. Plan year 7 lessons x3
4. Plan year 8 lessons x3
5. Plan year 9 lessons x3
6. Plan yr 10 core lessons x 2
7. Plan year 10 Add lessons x 2
8. [STRIKE]Plan year 11 core lessons[/STRIKE] Done
9. Plan year 11 add lessons x 3
10. [STRIKE]Long term plan year 11 core lesson order[/STRIKE]
11. [STRIKE]Long term year 11 add lesson order[/STRIKE]
12. [STRIKE]Write year 10 reports - or at least do data update[/STRIKE]
13. [STRIKE]Plan Psychology lessons.[/STRIKE]

Thats what needs sorting for next week. Some will get done...some won't.

twinklie

Right plans for this evening are to finish marking coursework, put clean washing away, do one more wash and hang out both of them.

Then I'll crack a bottle and just chill out for the evening. I'm going to get up early though and try and get a bit of work done before 12pm so I can chill out a little in the afternoon before I have to go to the inlaws.

I'm a bit bored at the minute but don't wanna spend all night working. Trashy tv and here it is for me this evening then. Can't think of any finance stuff I need to organise though...Im just waiting until next month now.

earthgirl

Hi Twinklie,

My OH is away and I'm getting loads done as well! Got an LEA inspection on Monday and Tuesday, so got 4 more lessons to plan for that tomorrow. sigh.

Hope you get a relaxing afternoon!