|
My OH is buying a car and has been offered GAP insurance (you can drive into a wall in two and a half years and claim the money back that the insurance doesn't give you) and a premium valet (we'll strip it right back to the basic paintwork and you won't need to polish it for three years) - not that he does anyway! Now both these would cost £600 in total- we're spending an extra £1000 plus part ex for the car. We've said no. Is it only another way to make money or are we missing out on some unbelievable deal? I don't believe we are but am I too cynical.
|
GAP insurance is vital if the car is on a finance deal, or you could find you owe the finance co. far more than an insurance co. pays out on a write off. Clearly you have to do the sums in terms of the premium versus the risk, to make sure it's good value, but you could buy the cover somewhere else.
The valet is a rip-off, IMHO.
|
GAP insurance is vital if the car is on a finance deal or you could find you owe the finance co. far more than an insurance co. pays out on a write off.
I suspect GAP insurance is massively overpriced typically though. All insurance is essentially a losing bet, as you will have to pay more than the average loss to cover their profit. And as GAP insurance is sold mainly through car dealers, the profit margins are likely to be much higher than usual making it more of a rip-off
In any case, as you're on part-exchange, there is no finance to pay off, so it's utterly pointless - normal insurance will replace the car with one of equal value.
|
|
|
|
GAP Insurance typically pays the difference between Insurance value and
1) Original Price paid (Back to Invoice)
2) Amount outstanding on HP - which can be more than 1)
If you are paying cash and not buying a car that depreciates rapidly the insurance at the garage is usually over priced and not really needed. If you want it buy it elsewhere and save 50%+
Super Polishing
Not worth it - buy the car and wash it / run it for 6mths. If it is dowdy then a quick valet might cost £30-£50 - repeat as necessary (or DIY at a cost of under £10 / time although initial outlay can be £30+).
This Super polishing is snake oil (lasts 3 yrs??) and costs them a max of £30-£50 in labour & materials
|
|
Thanks for the advice, much appreciated. I think we'd now consider the GAP (or similar) in the future. Much better idea to run the car and pay for the valets few months along - especially with kids (and my chocolate habit)!
|
The polish doesn't last as long as "they" claim. I know of a chap who's professional Brite job for inside and outside cost around £270 including an extra supply of materials, within 8 months the outside paint work was totally wet in rain and water would soaked into the seats suggesting the product doesn't live up to the claims or the sales patter. It was re-done but again within months the same problem occurred.
An alternative would be to buy the materials yourself and apply, or pay a Valet company to do the job for you for a 1/4 of the price. A quick search on the Internet will give you a feel for material prices.
|
|
|
|
|
check online for gap insurance, much cheaper than dealers offer
|
Yesterday I paid £75 (ok, it was meant to be £120 but I got it a bit cheaper) for a full machine polish and application of Meguiars 3 stage system polish and sealant.
The machine polish has left the paint looking like brand new (in fact better than a few of the new cars that I once sold) it's totally smooth to the touch and about 80% of the minor swirls are gone, the Meguiars polish should see to it that the paint stays protected for a good while.
Get an independant valeters to do the work, £600 sounds like a total rip off for GAP and a good clean to me, and get the GAP insurance from an independant company.
Blue
|
|
|
|
I had GAP insurance at the cost of £500 on a Jaguar & two years later it was written off (hit from behind extremly hard!) and the ins offered 16500 for the car, the GAP paid the rest for me to by a brand new one! they dont pay more than the original invoice price & I have to say I had a fight for two months with GAP as they do look for every get out option but they paid in the end! worth the stress NO! worth the fact that I had a brand new replacement YES! for get the paint coating I bought it second time around & wish I hadn't, it would have been cheaper to have a valet every 6 months & better
Regards
|
|
Well we certainly know now to ignore the premium valet and consider the GAP. Thanks for all the help, its very much appreciated.
|
|
|
|
Surprise surprise ! I had to deal with both of these topics when I recently bought my new A4 Avant. Firstly, as someone else said, GAP insurance might be handy if you have most of the car on finance, but otherwise it is a very expensive extra that I have done without for many years and dont need it now. Anyway most insurance policies will replace a new car with new, in the first year anyway. Audi wanted £450 for this ! Then they asked me how much I thought I would be willing to pay, and the answer was not much, ie £50 ?? as I just couldn't see the benefit to me.
Secondly, the expensive paint sealing etc etc. It is know to me from first hand experience that this is not worthwhile, as most of the products used for this eg Diamondbrite are available on EBAY. I have used Diamondbrite, and I'm not saying it is bad, but the claims of 6 year protection etc etc are way over exagerated. In reality why pay £350 for something you can do yourself easily for about £20.
Dealers are always thinking of new ways to augment their margins/cashflow, I think their time would be better spent looking at why their overheadds are crushing them.
|
|
|
![2022 Kia Picanto 1.0T GDi GT-line S 5dr [4 seats]](http://images.honestjohn.co.uk/imagecache/url/crop/90x60/https/assets.heycar.co.uk/t_default-export/f_auto/application_assets/vehicles/pictures/c726eb7f88100d0d2b886d1f2ce60fbf/4c4a0a66283fcd14d8e48a71d635b551.jpg)
