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Just curious really! How many of you would take out a "return to invoice" policy on a nearly new car?
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Just curious really! How many of you would take out a "return to invoice" policy on a nearly new car?
If a large chunk of it was financed (and therefore i owed soemone a lot of cash whether it was written off or not), then maybe. But not from a dealer. You can get it cheaper elsewhere.
Otherwise, no i wouldn't bother, and haven't done so to date
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Agree with Mare, Offer from dealer was £375 - found it for £140 for three years using a site suggested on the forum.
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Agreed, dealer way overpriced and finance guy got quite shirty when I said I could get the same cover elsewhere for nearly a third of the price! (Do these people not think we have access to telephones and the internet - or that we can read???).
Allegedly, over 3/4 sales last month from this dealer were complemented by GAP. Presumably you'd need to do a lot of damage to write a car off that, even in three years time, ought to be worth £5K...
I'm not convinced the £140 to cover a potential write-off accident is money well spent, but was curious given that sales figure, to see if I was just "out of touch"
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We are still prevaricating, but if you look at it as under £50 a year to cover a car we paid £18,000 for -I might be talking myself into it!! The amount we got for the written off mondeo estate did not come anywhere near what we had paid for it two years before and did not reflect the care and money spent on the car.
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Mmm. That's an interesting way of looking at it, yes. My car isn't worth that much (10K), but I guess £44 a year to have peace of mind that, should the worst happen, I'd still be able to buy a car worth £10K, doesn't seem a lot.
On the other hand, I'd expect to loose money through depreciation anyway, so..... I've still not decided!!!
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The only good thing with GAP insurance is the commission for the F&I salesman.In my opinion you need to be mad to pay for it,and i used to earn a substantial part of my income selling it.
You have fully comp insurance,check your policy if its a new car they often cover total replacement,but GAP,just pays for the salesmans expensive lifestyle.
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Three's two types of GAP insurance. Return to invoice value, and repay the outstanding finance if greater than the insurance payout.
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