1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

What Sort of GAP Insurance ?

Discussion in 'A3/S3/Sportback (8P Chassis)' started by SnAzBaZ, Jan 18, 2008.

  1. SnAzBaZ
    Offline

    SnAzBaZ Member

    Joined:
    Jan 6, 2008
    Messages:
    71
    Likes Received:
    0
    [Jan 18, 2008]
    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.
    #1
  2. Ads

    Ads

    [Dec 27, 2014]

  3. rich164h
    Offline

    rich164h Member

    Joined:
    Dec 6, 2007
    Messages:
    53
    Likes Received:
    0
    [Jan 18, 2008]
    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.
    #2
  4. h5djr
    Offline

    h5djr Well-Known Member VCDS Map User

    Joined:
    Jan 23, 2003
    Messages:
    7,654
    Likes Received:
    625
    [Jan 18, 2008]
    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.
    #3
  5. Amchlolor
    Offline

    Amchlolor Active Member

    Joined:
    Jan 13, 2005
    Messages:
    5,604
    Likes Received:
    3
    [Jan 18, 2008]
    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.
    #4
  6. h5djr
    Offline

    h5djr Well-Known Member VCDS Map User

    Joined:
    Jan 23, 2003
    Messages:
    7,654
    Likes Received:
    625
    [Jan 18, 2008]
    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.
    #5
  7. rich164h
    Offline

    rich164h Member

    Joined:
    Dec 6, 2007
    Messages:
    53
    Likes Received:
    0
    [Jan 18, 2008]
    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.
    #6
  8. MoAudi1.8T
    Offline

    MoAudi1.8T Member

    Joined:
    Dec 19, 2007
    Messages:
    181
    Likes Received:
    0
    [Jan 18, 2008]
    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
    #7
  9. N8
    Offline

    N8 Kowalski Details VCDS Map User

    Joined:
    Jul 4, 2007
    Messages:
    17,165
    Likes Received:
    692
    [Jan 24, 2008]
    Indeed, my dealer offered me GAP but I said no, as I know I'll get it cheaper? Wheres the best place guys.

    Thanks
    #8
  10. redbutcher
    Offline

    redbutcher Member

    Joined:
    Aug 28, 2007
    Messages:
    649
    Likes Received:
    0
    [Jan 24, 2008]
    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.
    #9
  11. N8
    Offline

    N8 Kowalski Details VCDS Map User

    Joined:
    Jul 4, 2007
    Messages:
    17,165
    Likes Received:
    692
    [Jan 24, 2008]
    So hows does it work out Jon? Do u pay monthly/in full? Explain
    #10
  12. redbutcher
    Offline

    redbutcher Member

    Joined:
    Aug 28, 2007
    Messages:
    649
    Likes Received:
    0
    [Jan 24, 2008]
    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.
    #11
  13. Kontraband
    Offline

    Kontraband Active Member

    Joined:
    Dec 18, 2007
    Messages:
    1,997
    Likes Received:
    0
    [Jan 24, 2008]
    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.
    #12
  14. N8
    Offline

    N8 Kowalski Details VCDS Map User

    Joined:
    Jul 4, 2007
    Messages:
    17,165
    Likes Received:
    692
    [Jan 24, 2008]
    How much was your single payment kontraband, and when can I do it? Before the car arrives? After? Thanks
    #13
  15. redbutcher
    Offline

    redbutcher Member

    Joined:
    Aug 28, 2007
    Messages:
    649
    Likes Received:
    0
    [Jan 24, 2008]
    I handed my plastic over when I collected the car.
    #14
  16. Kontraband
    Offline

    Kontraband Active Member

    Joined:
    Dec 18, 2007
    Messages:
    1,997
    Likes Received:
    0
    [Jan 24, 2008]
    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?
    #15
  17. N8
    Offline

    N8 Kowalski Details VCDS Map User

    Joined:
    Jul 4, 2007
    Messages:
    17,165
    Likes Received:
    692
    [Jan 24, 2008]
    Excellent. I'll get a quote from click4gap and speak to my salesman. £200 for 3 years cover is excellent - peace of mind!
    #16
  18. steveg9
    Offline

    steveg9 Member

    Joined:
    Nov 1, 2007
    Messages:
    180
    Likes Received:
    0
    [Jan 24, 2008]
    presumably negotiated before order / delivery? Mine quoted £399ish and then said the lowest they could go was £350.....
    Which dealer??
    #17
  19. rich164h
    Offline

    rich164h Member

    Joined:
    Dec 6, 2007
    Messages:
    53
    Likes Received:
    0
    [Jan 24, 2008]
    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.
    #18
  20. Kris
    Offline

    Kris Member

    Joined:
    Sep 17, 2007
    Messages:
    220
    Likes Received:
    0
    [Jan 24, 2008]
    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!
    #19
  21. SnAzBaZ
    Offline

    SnAzBaZ Member

    Joined:
    Jan 6, 2008
    Messages:
    71
    Likes Received:
    0
    [Jan 24, 2008]
    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.
    #20
  22. Kontraband
    Offline

    Kontraband Active Member

    Joined:
    Dec 18, 2007
    Messages:
    1,997
    Likes Received:
    0
    [Jan 25, 2008]
    Yeah, I heard that RE click4gap too...

    SnAzBaZ, how much you paying then a month at lombard and what policy??? replace/rti??
    #21
  23. N8
    Offline

    N8 Kowalski Details VCDS Map User

    Joined:
    Jul 4, 2007
    Messages:
    17,165
    Likes Received:
    692
    [Jan 25, 2008]
    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
    #22
  24. redbutcher
    Offline

    redbutcher Member

    Joined:
    Aug 28, 2007
    Messages:
    649
    Likes Received:
    0
    [Jan 25, 2008]
    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 :icon_thumright:
    #23
  25. N8
    Offline

    N8 Kowalski Details VCDS Map User

    Joined:
    Jul 4, 2007
    Messages:
    17,165
    Likes Received:
    692
    [Jan 25, 2008]
    Any advice for me Jon, keeping my car for 4 years on a PCP also.
    #24
  26. Kontraband
    Offline

    Kontraband Active Member

    Joined:
    Dec 18, 2007
    Messages:
    1,997
    Likes Received:
    0
    [Jan 25, 2008]
    #25
  27. N8
    Offline

    N8 Kowalski Details VCDS Map User

    Joined:
    Jul 4, 2007
    Messages:
    17,165
    Likes Received:
    692
    [Jan 25, 2008]
    I'm getting quotes now. Cheers lad.
    #26
  28. redbutcher
    Offline

    redbutcher Member

    Joined:
    Aug 28, 2007
    Messages:
    649
    Likes Received:
    0
    [Jan 25, 2008]
    :redface: 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....
    #27
  29. N8
    Offline

    N8 Kowalski Details VCDS Map User

    Joined:
    Jul 4, 2007
    Messages:
    17,165
    Likes Received:
    692
    [Jan 25, 2008]
    Think I've chosen the company that best fits my needs, do I need to show them my insurance certificate? :think: I haven't sorted that yet as the car isn't due until March 1st.

    Ta again Jonny lad.
    #28
  30. SnAzBaZ
    Offline

    SnAzBaZ Member

    Joined:
    Jan 6, 2008
    Messages:
    71
    Likes Received:
    0
    [Jan 25, 2008]
    £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.
    #29
  31. Kontraband
    Offline

    Kontraband Active Member

    Joined:
    Dec 18, 2007
    Messages:
    1,997
    Likes Received:
    0
    [Jan 28, 2008]

    so... who/how much??? ;) If its good tell us others waiting for GAP too.
    #30
  32. N8
    Offline

    N8 Kowalski Details VCDS Map User

    Joined:
    Jul 4, 2007
    Messages:
    17,165
    Likes Received:
    692
    [Jan 28, 2008]
    tha ala one is £360 I think, I'll do it properly nearer the time, what you got on order kontraband? A3 or S3?
    #31
  33. Kontraband
    Offline

    Kontraband Active Member

    Joined:
    Dec 18, 2007
    Messages:
    1,997
    Likes Received:
    0
    [Jan 28, 2008]
    ah... ok.

    I got an ibis white S3, going from a 118 bmw diesel company car... so to say Im excited.... is an understatement~! :jump: (though I enjoyed the mway miles and a nice weighted drive)... will be nice to get some speed back.
    #32
  34. N8
    Offline

    N8 Kowalski Details VCDS Map User

    Joined:
    Jul 4, 2007
    Messages:
    17,165
    Likes Received:
    692
    [Jan 28, 2008]
    Excellent, any mods planned??
    #33
  35. N8
    Offline

    N8 Kowalski Details VCDS Map User

    Joined:
    Jul 4, 2007
    Messages:
    17,165
    Likes Received:
    692
    [Jan 28, 2008]
    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.
    #34
  36. Kontraband
    Offline

    Kontraband Active Member

    Joined:
    Dec 18, 2007
    Messages:
    1,997
    Likes Received:
    0
    [Jan 28, 2008]
    nice 1.

    Mods... nope. Not yet. ;) but yeah, let us know when you get it sorted so we know a price.
    #35
  37. N8
    Offline

    N8 Kowalski Details VCDS Map User

    Joined:
    Jul 4, 2007
    Messages:
    17,165
    Likes Received:
    692
    [Jan 28, 2008]
    Cheers lad, my dealer might match them as well. I want replacement money instead of the car!
    #36
  38. Kontraband
    Offline

    Kontraband Active Member

    Joined:
    Dec 18, 2007
    Messages:
    1,997
    Likes Received:
    0
    [Jan 28, 2008]
    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.
    #37
  39. Kontraband
    Offline

    Kontraband Active Member

    Joined:
    Dec 18, 2007
    Messages:
    1,997
    Likes Received:
    0
    [Mar 14, 2008]
    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!
    #38
  40. Jiggy
    Offline

    Jiggy Member

    Joined:
    May 28, 2011
    Messages:
    36
    Likes Received:
    1
    [Jun 13, 2011]
    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!
    #39

Share This Page