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  1. #1
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    What Sort of GAP Insurance ?

    Just looking at GAP Insurance options for a new S3.

    If the S3 is on a Lease Purchase finance scheme, what is the best GAP policy to for.

    I am thinking either Return to Retail Value, or Replacement.

    I think I would rather have the cash though, than just an identical new car ?

    Other opinions welcome!

    Thanks.

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  3. #2
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    Haggle the Audi one down. I got mine for 190 (which I believe is what the dealership buys them for) and was only 50 more than the cheapest I could find elsewhere. I'd heard from various sources that some people have had problems with 3rd party policies not paying out until the main insurer had raised their offer etc etc which meant that the owner was left in an impossible stalemate situation and without a car for a long period of time. I know at least two people who have used the audi one and it was sorted out with no questions asked so for me it was worth the extra 50.

    I wouldn't pay full price for the audi one though.

    edited to add, I didn't actually answer your question!! Sorry about that. The one I went for was the one that payed out the actual invoice value rather than clearing finance etc. I'm 99% sure it pays cash, not just providing a replacement vehicle.
    Last edited by rich164h; 18th January 2008 at 12:02.

  4. #3
    Normally there are 3 levels of GAP insurance. One just pays off any outstanding finance, the second pays out the difference between the insurance company offer and the original invoice price and the thirds pays for a replacement vehicle.

    I went for the middle one. Again I got several quotes on the internet and took them into the dealer and got the Audi GAP Insurance down to within 50 of my lowest quote.
    Dave R (h5djr)
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    A3 8V 2.0 TDI-184 Sportback Sport s-tronic quattro - Silver + lots of options - my 9th A3

  5. #4
    Amchlolor's Avatar
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    Quote Originally Posted by h5djr
    Normally there are 3 levels of GAP insurance. One just pays off any outstanding finance, the second pays out the difference between the insurance company offer and the original invoice price and the thirds pays for a replacement vehicle.

    I went for the middle one. Again I got several quotes on the internet and took them into the dealer and got the Audi GAP Insurance down to within 50 of my lowest quote.
    The Mini dealer tried to flog me GAP on the middle option, for 365.00
    Without even checking, I was sure I could beat their quote, so I said no.
    '02 to '05 - Black Audi A4 1.9tdi sport
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  6. #5
    The Mini dealer tried to flog me GAP on the middle option, for 365.00
    Without even checking, I was sure I could beat their quote, so I said no.
    Almost certainly. Audi wanted 399 for my cover, but showing them the alternative quotes we agreed in the end to 225. There are plenty of internet sites offering GAP insurance.
    Dave R (h5djr)
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    A3 8V 2.0 TDI-184 Sportback Sport s-tronic quattro - Silver + lots of options - my 9th A3

  7. #6
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    Yep, 399 down to 190 for me. I was paying cash and didn't go for any other finance/supergard..... options so I think the finance saleman was desperate to sell me something.

  8. #7
    MoAudi1.8T's Avatar
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    alrite guys, hows it goin?

    im looking at gap insurance for an a3 that im looking at getting soon; the dealer price is 3995 and i am going to get finance on this.

    could anyone please explain a little how the gap insurance works and what the best policy would be for me as i am getting it on finance?

    thanks a lot

    mo

  9. #8
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    Indeed, my dealer offered me GAP but I said no, as I know I'll get it cheaper? Wheres the best place guys.

    Thanks

  10. #9
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    I got my quote from click4gap

    Their website has a good explanation of what all 3 different products do, but in a nutshell:

    Return to Value
    Car is worth around 15k
    Insurance pays out 11k
    You're out of pocket by 4k
    Return to Value GAP pays the additional 4k

    Return to Invoice
    Car invoice states 22k
    Insurance valuation says it's worth 17
    You're out of pocket by 5k
    Return to Invoice GAP pays the additional 5k

    Vehicle Replacement
    You paid 25k for your car
    List price of a new car is 28k
    Insurance settlement is 20k
    You're out of pocket by 8k
    Vehicle Replacement GAP pays the additional 8k

    Hope that makes sense.

    Once armed with my quote from click4gap, I went back to Audi and they matched the quote I had. The audi GAP insurance that I've gone for is return to invoice with a max payout of 15k.
    Jon

    Now A3 less......

  11. #10
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    So hows does it work out Jon? Do u pay monthly/in full? Explain

  12. #11
    redbutcher's Avatar
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    I paid in full with Audi (though I think you can pay monthly with click4gap). Cost to me was 200 for the 3 years cover - didn't think that was too bad and it's certainly worth having in my opinion.
    Jon

    Now A3 less......

  13. #12
    Kontraband's Avatar
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    you make a single payment... then, if the worse happens, you 'should' be covered for any difference in between what the insurance co pay you at their valuation, and the outstanding amount you'd owe on finance so you arent left outta pocket.

  14. #13
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    How much was your single payment kontraband, and when can I do it? Before the car arrives? After? Thanks

  15. #14
    redbutcher's Avatar
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    I handed my plastic over when I collected the car.
    Jon

    Now A3 less......

  16. #15
    Kontraband's Avatar
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    yeah, pay it when you collect... but easy to barter down at audi... I havent collected mine yet, therefore havent paid Audi, but paid just over 200 to BM for my current. and will be paying the same for this one on RTI and 25,000.

    From memory there is a time frame when you need to buy the GAP insurance... something like 90 days either side?

  17. #16
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    Excellent. I'll get a quote from click4gap and speak to my salesman. £200 for 3 years cover is excellent - peace of mind!

  18. #17
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    Quote Originally Posted by redbutcher
    I paid in full with Audi (though I think you can pay monthly with click4gap). Cost to me was 200 for the 3 years cover - didn't think that was too bad and it's certainly worth having in my opinion.
    presumably negotiated before order / delivery? Mine quoted 399ish and then said the lowest they could go was 350.....
    Which dealer??

  19. #18
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    Quote Originally Posted by steveg9
    presumably negotiated before order / delivery? Mine quoted 399ish and then said the lowest they could go was 350.....
    Which dealer??
    They are lying. I got mine from Poole Audi for 190 after he started at the 399. If they won't come down go to one from the internet.

  20. #19
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    I was quoted £499 last November for Audi gap but because i've bought from them before they'd give it to me for £399 (yeah, ok!). I got an internet quote for £230 and went back, they wouldn't even try to match it ..... their loss!
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  21. #20
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    I've read interesting things about click4gap on tyresmoke.net. The policy underwriters are apparently out of Gibraltar so technically it's not covered by the FSA (Yes I know click4gap.co.uk says they are covered by FSA because "they" are, but the underwriters are not).

    How this affects you when it comes to a claim I dont know, but it explains why they are cheaper than the competition.

    I have gotten mine from Lombard, I pay monthly on a 0% APR deal, and can cancel at any time. I don't like shelling out £200 quid if you end up changing cars again in 12 months time.

    So I have 60 months cover and a small DD every month.

    Dealer was not interested in selling me GAP Insurance.

  22. #21
    Kontraband's Avatar
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    Yeah, I heard that RE click4gap too...

    SnAzBaZ, how much you paying then a month at lombard and what policy??? replace/rti??

  23. #22
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    So where shall I get my gap from guys? My A3 is costing £26k but worth £29k, just spoke to my salesman and he said they will offer the "premium" package at £395

  24. #23
    redbutcher's Avatar
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    Quote Originally Posted by steveg9
    presumably negotiated before order / delivery? Mine quoted 399ish and then said the lowest they could go was 350.....
    Which dealer??
    Yes, negotiated before delivery. My order was done over the Internet and then taken over by the dealer - the dealer in question deals in large volumes of cars (as they get all the Audi orders from this particular website) which is probably why they were more willing to do it for 250 rather than 399.

    SnAzBaZ - that's why I went back to the dealer....
    I'm on a PCP with my car, so no problem with having to pay up front as I know I'll be keeping it for 3 years.

    Would be interested to hear about the Lombard policy though - could be a good alternative
    Last edited by redbutcher; 25th January 2008 at 15:57.
    Jon

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  25. #24
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    Any advice for me Jon, keeping my car for 4 years on a PCP also.

  26. #25
    Kontraband's Avatar
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    I just checked out 4 online companies for car valued at £29k and 20k or 25k claim limit on 3 years:
    www.click4gap.co.uk came back at £280
    http://www.gap-insurance-online.co.uk came back at £209
    www.car2cover.co.uk came back at £210
    www.ala.co.uk came back at £199.50 .


    Only did the quick quotes, but give you a comparsion or start point for bartering.

  27. #26
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    I'm getting quotes now. Cheers lad.

  28. #27
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    Quote Originally Posted by N8KOW
    Any advice for me Jon, keeping my car for 4 years on a PCP also.
    urm what Kontraband said - I'd definitely go back to Audi and show them the quotes you've got and say you'd like to give them the business, but only if they can come close/match the quotes you've got.

    See what they come back with....
    Jon

    Now A3 less......

  29. #28
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    Think I've chosen the company that best fits my needs, do I need to show them my insurance certificate? I haven't sorted that yet as the car isn't due until March 1st.

    Ta again Jonny lad.

  30. #29
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    £6 per month on my Lombard policy for those that are interested. £7,500 claim limit. Direct Debit over 60 months can be canceled anytime.

    RTI not Replacement, I don't want to get a replacement if mine gets declared total loss, I would rather get the cash then decide what I want to do.

    N8KOW

    You should not need to show the cert no, because if your not covered by a policy, the GAP does not pay out.

  31. #30
    Kontraband's Avatar
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    Quote Originally Posted by N8KOW
    Think I've chosen the company that best fits my needs, do I need to show them my insurance certificate? I haven't sorted that yet as the car isn't due until March 1st.

    Ta again Jonny lad.

    so... who/how much??? If its good tell us others waiting for GAP too.

  32. #31
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    tha ala one is £360 I think, I'll do it properly nearer the time, what you got on order kontraband? A3 or S3?

  33. #32
    Kontraband's Avatar
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    ah... ok.

    I got an ibis white S3, going from a 118 bmw diesel company car... so to say Im excited.... is an understatement~! (though I enjoyed the mway miles and a nice weighted drive)... will be nice to get some speed back.

  34. #33
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    Excellent, any mods planned??

  35. #34
    N8
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    I only did I rough quote kontraband and wasn't payin proper attention, when I've done a proper one I'll let you know.

  36. #35
    Kontraband's Avatar
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    nice 1.

    Mods... nope. Not yet. but yeah, let us know when you get it sorted so we know a price.

  37. #36
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    Cheers lad, my dealer might match them as well. I want replacement money instead of the car!

  38. #37
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    yeah, I think most would go for money to cover cost rather than i replacement?
    I wanna see if my dealer will match too... theyve been pretty good on it so far, but no issue if they wont.

  39. #38
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    well, signed over for my car on Wednesday ... picked up the service plan and GAp insurance from them too... got the gap down from 475 to 230... happy enough with that. Drive on!

  40. #39
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    Audi dealer has quoted me £499 for three years gap insurance and I got it down to £349, is this really the lowest Audi can go down to?

    I've seen in this thread that people discussed the click4gap quotes and got the price down, this still work today? I have said I will take it for now but when I go to pick it up I want to drive the price down further if possible!

 

 

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