Volks AutosJMB Retrofits
Results 1 to 8 of 8
  1. #1
    2nd Gear

    Status
    Offline
    Join Date
    Jul 2005
    Location
    Leeds
    Posts
    419

    Guaranteed Asset Protection

    We bought a car from a BMW dealer a while back and when sorting out the paperwork we were offered "asset protection" for(I think) and extra couple hundred quid. The salesman said he had to offer us it, as it was required by the industry reg.

    When I ordered my A3, a month or so before I did not get offered anything like this. Did anyone else?

  2. # ADS
    ADS
    Join Date
    Always
    Location
    Global
    Posts
    Many
     
  3. #2
    5th Gear

    Status
    Offline
    Join Date
    Jun 2003
    Location
    Hythe, Kent
    Posts
    1,180

    Re: Guaranteed Asset Protection

    Gap insurance?

    Kev.

  4. #3
    6th Gear

    Status
    Offline
    Join Date
    Jan 2004
    Location
    York
    Posts
    1,653

    Re: Guaranteed Asset Protection

    Nothing to do with industry regs, he's just playing the salemans game. There a site which explains all the finance laws etc with regard to purchase protection schemes, gap insurance, asset protection.

    When I'm back in the office I'll try and did the link out and post it.

    Basically if a saleman says he has to offer a finacial product thats going to cost you money he's talking out of his behind

  5. #4

    Re: Guaranteed Asset Protection

    I purchased GAP Insurance with my new A3 back in July 2004. I shopped around various internet sites but in the end the dealer did a deal on the GAP offerred by Audi. I paid 350 for 3 years cover.

  6. #5
    mikep's Avatar
    3rd Gear

    Status
    Offline
    Join Date
    Jun 2003
    Location
    Wetheringsett, Suffolk
    Posts
    591

    Re: Guaranteed Asset Protection

    Feck! 350 is a HUGE premium! Sainsury's charged me 215.

  7. #6

    Re: Guaranteed Asset Protection

    Yes the Audi GAP Insurance is quite expensive, but when I compared the actual cover offered the Audi policy did offer more than the other I found at the time on the internet and the price difference was less than 100.

    More companies are offering GAP insurance now.

  8. #7
    Eeef's Avatar
    Lord of War

    Status
    Offline
    Join Date
    Nov 2004
    Location
    South Coast, land of the white man
    Posts
    1,602

    Re: Guaranteed Asset Protection

    Didn't bother, waste of money. If you get a decent insurance company they'll guarantee the value for the first year (hmmm tempted to stick mine into a tree in about 5 months [img]/ubbthreads/images/graemlins/smile.gif[/img])

  9. #8

    Re: Guaranteed Asset Protection

    Yes but you get the same protection - a replacement car in years 2 and 3 as well. Not that much extra on the cost of a 20,000 car. It's only another 1.75%. Not a problem if you change your car every 12 months or so but that way you would certainly loose more than 1.75% extra in depreciation. I have every intention of keeping my A3 for at least 3 years.

    It's like all insurance - a total waste of money.... unless for example in this case someone nicks your car when it's 35 months old ! What you will get from the insurance company will not buy you another one, but with GAP insurance your car will be replaced.

 

 

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Single Sign On provided by vBSSO

Garage Plus, Vendor Tools vBulletin Plugins by Drive Thru Online, Inc.

Content Relevant URLs by vBSEO