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Guaranteed Asset Protection

Discussion in 'A3/S3/Sportback (8P Chassis)' started by mark88, Sep 27, 2005.

  1. mark88

    mark88 Member

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    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?
     
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  3. Kevint

    Kevint Active Member

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    Gap insurance?

    Kev.
     
  4. auroan

    auroan Active Member

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    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. h5djr

    h5djr Well-Known Member
    Gold Supporter VCDS Map User Audi A3 quattro

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    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. mikep

    mikep Member

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    Feck! £350 is a HUGE premium! Sainsury's charged me £215.
     
  7. h5djr

    h5djr Well-Known Member
    Gold Supporter VCDS Map User Audi A3 quattro

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    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. Eeef

    Eeef Lord of War

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    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 /ubbthreads/images/graemlins/smile.gif)
     
  9. h5djr

    h5djr Well-Known Member
    Gold Supporter VCDS Map User Audi A3 quattro

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    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.
     

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