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GAP Insurance

Discussion in 'New A3/S3 (8V Chassis)' started by geefunk1978, Oct 23, 2013.

  1. geefunk1978
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    geefunk1978 Well-Known Member

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    [Oct 23, 2013]
    Hi all,

    Well the new S3 is on the way and I'm buying it on a PCP. Obviously they're offering me GAP Insurance.
    Has anyone took this out through Audi and what sort of monthly cost are you paying if you don't mind me asking? They've quoted me £6/month for return to invoice insurance. Is this a rip off?

    Cheers
    Graham
    #1
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  3. bleedsoff
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    bleedsoff Active Member

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    [Oct 23, 2013]
    Have a look on google, loads of third party companies offering gap insurance usually at a fraction of the cost then the dealers.
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  4. Twizzler
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    Twizzler Member

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    [Oct 23, 2013]
    Audi quote £549!
    Googled at around £200.
    Difficult decision. lol
    #3
  5. snakehips
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    snakehips Active Member

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    [Oct 23, 2013]
    I found it for £200 with ALA but on pick up day I still intend to ask Audi if they would be willing to match this. I may get lucky if the sales guy needs to improve his numbers.
    #4
  6. cuke2u
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    cuke2u Well-Known Member

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    [Oct 23, 2013]
    Hi, you have to be careful with any internet companies that offer GAP. If they go 'bust' they've got your money. ALA are one of the better ones that has been trading for sometime now.
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  7. geefunk1978
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    geefunk1978 Well-Known Member

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    [Oct 23, 2013]
    Spoken to the finance guy at Audi and basically they'll do it for £5/month, which over 4 years of the PCP is £240 (£60/yr) which I think is very reasonable. Also if it's with Audi there's no worries about them going bust!!
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  8. snakehips
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    snakehips Active Member

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    [Oct 23, 2013]
    That's why I would prefer to have it with Audi if I can, but not for £500!
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  9. smk82
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    smk82 Member

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    [Oct 23, 2013]
    As above. Audi quote was very high in comparison. Went with ALA vehicle replacement in the end. 4 years at £15K for £169 (with a 10% discount). Happy with that. I was originally considering putting it back a year if I could find an insurance company which did new for old in the first year. A few appear to, but when you look closer, its we'll get an equivalent vehicle but only if there is one in the country! At least this way, even if one has to be ordered from the factory I'm covered.
    #8
  10. Twizzler
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    Twizzler Member

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    [Oct 23, 2013]
    What's to stop Audi's insurance company going bust? If it did do they have it in writing that they'd indemnify the purchaser?
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  11. NHN
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    NHN Retrofitter - Audi - VW - Skoda - Seat Site Sponsor VCDS Map User

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    [Oct 23, 2013]
    So you considered £66 per year a potential rip of & now its £60, its very reasonable, does it read as I read lol.
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  12. geefunk1978
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    geefunk1978 Well-Known Member

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    [Oct 23, 2013]
    No, the question was if £6/month is a rip off, which if you can get the same level of cover for half the money then it is a rip off.
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  13. NHN
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    NHN Retrofitter - Audi - VW - Skoda - Seat Site Sponsor VCDS Map User

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    [Oct 23, 2013]
    Sorry my mistake, its £72 per year, but you saved £6 in total per year & now say that's reasonable, on a £30k car, for me is just being tight, I understand the fact people want good deals, but that's just silly to even consider the cost of this as a rip off based on prices you've quoted.

    If you said to me it was £600 a year, then I'd say yes for sure seems very excessive, but for what you're getting & the cost, I'd say its very cheap & well priced.
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  14. geefunk1978
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    geefunk1978 Well-Known Member

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    [Oct 23, 2013]
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  15. NHN
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    NHN Retrofitter - Audi - VW - Skoda - Seat Site Sponsor VCDS Map User

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    [Oct 23, 2013]
    Huh, its a forum, you asked a question & all I'm doing is giving my opinion of the question, that's what this place is for, nothing personal, just shooting the breeze about a given subject.

    However, does beg the question, you're buying a fairly expensive car & then worry about £6 a year, cant you see the POV I'm expressing, that's almost 2 pints of beer lol.
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  16. geefunk1978
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    geefunk1978 Well-Known Member

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    [Oct 23, 2013]
    I didn't look at it as yearly cost to start with, yes I can see your point of view.

    It is an expensive car and every little helps!
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  17. ivicyrusivi
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    ivicyrusivi Active Member

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    [Oct 23, 2013]
    Can you take GAP out after you've bought the car?
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  18. RobbieWebs
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    RobbieWebs Active Member

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    [Oct 23, 2013]
    Yes, maybe not with Audi tho :)
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  19. Cumbrian_bob
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    Cumbrian_bob Member

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    [Oct 23, 2013]
    Gap insurance, always a contentious discussion item

    The main issue to worry about is not being stuck in negative equity where the loan amount is more than the insurance amount. If the insurance covers that then is it really any different to trading a car in. Is it really different selling a car losing £5k on purchase price to having a car as an insurance write of and losing £5k on purchase price

    There are lots of different types, and lots of different packages and prices, I will look around when my car arrives. the options always make me a little worried, they can affect the insurance pay outs as they are not always part of the car value.

    Interesting thought on the issue of insurance companies going bust, maybe buy it on a credit card? Might give you some protection, a bit like when you pay your £1000 car deposit to the dealership and hope they survive the 3+ months before the car arrives.
    #18
  20. d8ean
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    d8ean Member

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    [Dec 8, 2013]
    kinda read all of the above, but who has actually paid for GAP through audi here? think i got quoted circa £700 for the 3 years?
    thinking of looking elsewhere
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  21. Ade44
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    Ade44 New Member

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    [Dec 8, 2013]
    My dealer quoted £450 for 3 years deferred for 1 year.
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  22. d8ean
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    d8ean Member

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    [Dec 8, 2013]
    ill have to check tomorrow when adding the roof bars
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  23. Ade44
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    Ade44 New Member

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    [Dec 8, 2013]
    Worth checking your own insurer. Mine has new for old including all the extra added goodies for 1 year. So if you want GAP it can be deferred or see what your insurer can do.
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  24. Fragup
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    Fragup Member

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    [Dec 8, 2013]
    i got the Audi gap return to invoice insurance, but I got it at a discount, in the end I paid £250 for 4 years, which I thought was really good deal, as the Audi own GAP seams a very good policy compared to the Internet options, ALA seam to be the best of the rest.
    I added the gap at the end, a couple of weeks before I picked up car as originally was told £400 for 3 years first time I asked and told they couldn't get down to those sort of prices, I don't know if I just got lucky, but worth another try ?
    Good luck either way.
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  25. RobH_S3
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    RobH_S3 Active Member

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    [Dec 8, 2013]
    Audi Huddersfield through mine in for free :)

    They've been very good actually, also had the lifeshine thingy done aswell for free.
    Last edited: Dec 8, 2013
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  26. Psyman79
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    Psyman79 Active Member

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    [Dec 9, 2013]
    Just bear in mind that if you take up GAP insurance at a later date i understand the return to invoice price will be based on the cars value at that point(i've probably misunderstood that though). I went for replacement value(called Combined Vehicle Replacement) rather than RTI as it covers the extra cost of replacing your car in the event of future price increases. Gapinsurance123.co.uk, £169 for 3 years.
    #25
  27. h5djr
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    h5djr Well-Known Member VCDS Map User

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    [Dec 9, 2013]
    I think you're wrong in connection with the Return to Invoice. I think it means what it says and will pay the difference between what the insurance company offer for the car and the original invoice price when supplied. Some GAP policies can be arranged to start when the car is one year old as a lot of insurance companies have a 'replace the car' clause in the normal insurance until the car is one year old.

    Personally I have a Vehicle Replacement policy which will take into account any price increases over the period of the insurance and replace the vehicle with a similar vehicle or as close as can now be supplied as a new car. I paid £215 for a 4 year policy with Direct Gap.
    #26
  28. Psyman79
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    Psyman79 Active Member

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    [Dec 9, 2013]
    Yeah, thought i might've got that wrong. Didn't sound right in my head.
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